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News Briefs: Recent Arbitration Awards

In Denver and throughout Colorado and Wyoming

The attorneys at Burg Simpson recently won a judgment of $225,000 in compensatory damages in the security fraud case Charles B. Lee & Denise P. Lee vs. Raymond James Financial Services, Inc., Moseley and Associates, L.L.P., and John M. Moseley. Burg Simpson’s clients, Mr. and Mrs. Lee, claimed that the defendants were guilty of unsuitability, misrepresentations, omissions, breach of fiduciary duty, and failure to supervise. The defendants were hired to purchase investments to augment the income of the recently-retired Mr. Lee. They purchased few, if any investments for Mr. Lee and instead used capital gains from the sale of stocks to show Mr. Lee a financial return on his money.

This is a significant victory since Mr. and Mrs. Lee actually made a $75,000 profit on the account they opened with the defendants. The attorneys at Burg Simpson were able to convince the arbitration panel to ignore the fact that the account turned a profit in order to rightfully compensate Mr. and Mrs. Lee for the fact that they had been defrauded.

Click here to download the reprint from Public Investors Arbitration Bar Association (PIABA) Bar Journal (p. 49, Summer 2008)

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Burg Simpson Eldredge Hersh & Jardine, P.C. is a class action law firm serving the Rocky Mountain Region. The firm has offices in Denver, Colorado, Cody, WY, Cincinnati, Ohio, & Phoenix, AZ. The Firm is responsible for the content on the website, this shareholder class action information is not to be interpreted as providing legal services, nor as proposing any form of legal advice.