Stock Market Recovery Consultants (S.M.R.C. Inc.) Obtains $388,560 FINRA Arbitration Award Against Securities Brokerage Firm. Industry arbitrator dissented.
* Reuters.
Fri Mar 26, 2010 2:09pm EDT
NEW YORK–(Business Wire)–
Benjamin Lapin and Mitchell Markowitz of Stock Market Recovery Consultants
(S.M.R.C. Inc.) have obtained, on behalf of Nagai Rajendran against his
stockbroker/manager, Emmet A. Larkin Company, Inc., an arbitration award from
the Financial Industry Regulatory Authority (FINRA) for damages in the amount of
$388,560, plus pre-judgment interest at 5% per annum accruing from August 1,
2006 through March 9, 2010.
Claimant alleged (1) that Respondents failed to supervise Claimant`s account or
to recommend appropriate measures that would have protected Claimant`s
investments; and (2) that Respondents` investment strategy for Claimant was
wholly unsuitable and inappropriately risky and resulted in devastating losses
to Claimant.
The public arbitrators on the arbitration panel found Respondents liable on the
claims of breach of contract; failure to supervise; breach of fiduciary duty;
negligence; unauthorized trading and manipulations. The industry arbitrator on
the panel dissented without explanation.
Read the FINRA awardNagai Rajendran v. Emmett A. Larkin Company, Inc.
S.M.R.C., Inc., with a strong conviction that the securities laws were enacted
to protect investors, represents investors nationwide in FINRA arbitrations
related to claims of securities industry misconduct. If you have questions about
a potential claim, contact us at 800 STOCK LOSS (800 786 2556).
For information about S.M.R.C., Inc. or the recent FINRA award, contact us at
Stockfraud.com or call 800 STOCK LOSS
Stock Market Recovery Consultants (S.M.R.C. Inc.)
Benjamin Lapin, 800 333 4567
