Waddell & Reed

Waddell & Reed has been around for seven decades, during which time it has sold its mutual funds to individual investors primarily through financial advisors. Waddell & Reed claims that a respect for the importance of professional financial advice and guidance is central to its investment culture.

Waddell & Reed Ordered to Pay Customer $55,000

An NASD arbitration panel ordered Waddell & Reed to pay an investor $55,000 to compensate the investor for damages suffered as a result of Waddell & Reed’s improper conduct. The investor asserted the following causes of action: breach of contract; mismanagement of accounts; lack of diversification; violations of common law principles, “prudent man principles”, and ERISA standards; misrepresentation; breach of fiduciary duty; negligence; failure to supervise; violations of Federal and State Statutory and Common Law; violations of the Securities Act of 1933, the Exchange Act of 1934, and Rule 10b-5 promulgated thereunder; fraud; and unsuitability. Claimants’ claim involved a variety of Eaton Vance mutual funds.

If you suffered investment losses, please contact us or communicate with a Dimond Kaplan & Rothstein, P.A. attorney at 888-578-6255 or jkaplan@dkrpa.com for a free case evaluation.

EN   ES   PT     

Miami Office
Grand Bay Plaza
2665 S. Bayshore Drive
Penthouse 2B
Miami, FL 33133
Telephone: 786.628.8236

Los Angeles Office
Available by Appointment
2029 Century Park East
Century Plaza Tower
Suite 400N
Los Angeles, CA 90067
Telephone: 424.544.7930

New York City Office
Available by Appointment
14 Wall St, 20th Floor
New York, NY 10005
Telephone: 917.382.5217

West Palm Beach Office
Northbridge Centre
515 N. Flagler Drive, Suite P-300
West Palm Beach, FL 33401
Telephone: 561.475.2887

Detroit Office
41000 Woodward Avenue,
Suite 350 East
Bloomfield Hills, Mi 48304
Telephone: 248.368.0182