Josephine DesParte, of Inverness, won the case arbitrated through the Financial Industry Regulatory Authority, known as FINRA, the organization that oversees brokerage firms nationwide. The panel decided that DesParte should recover her stock losses of $655,146, all capital gains taxes paid by the liquidation of long-held stocks of $380,000, and the return of $82,719 in fees that the brokers had charged. Attorney fees and punitive damages were not awarded, according to a FINRA document late Monday. "I'm happy. I just wanted what I lost," DesParte said Tuesday. "And that's what I got. I didn't pursue punitive damages. I didn't care about that."
DesParte's lawyer filed the complaint earlier this year against William Blair & Co. LLC, which was accused of breach of fiduciary duty.
Full Article and Source:
Inverness Widow Wins $1.1 Million in Law Suit Against Brokerage Firm
5 comments:
It's good to see a gov. agency doing the right thing!
Good for her!
Great! There still is justice in America!!
Go Girl! Josephine DesParte and her lawyer (yes, without a good lawyer Ms. DesParte would be just another statistic with no voice)deserved this win.
I am estremely disappointed that the costs to recover her money were not considered or awarded in this case.
So, without funds or a lawyer who will work for the victim, no civil action will take place and that is wrong.
I am also concerned about the statute of limitations in a case like this which always works in favor of the financial predators.
These wins sure do make my day!
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