On August 26, 2011, a FINRA arbitration panel ordered brokerage firm Wedbush Morgan Securities to pay an investor nearly $1.2 million as a result of stockbroker negligence and misconduct by Los Angeles-based Wedbush Morgan and one of Wedbush’s brokers. The arbitrators also ordered Edward Wedbush, Wedbush Morgan’s namesake and President, to pay the investor $200,000 for emotional distress. The arbitrators separately ordered the Wedbush broker to pay an additional $1.5 million to the investor.
This is one of a string of ten cases over the past year in which FINRA arbitrators have ordered Wedbush Morgan to compensate investors. During that time, Post navigation