jury verdict won against Prudential Securities
Mr. Meyer represented 200+ retirees in a large class action that lasted eight years and following an appeal of the jury verdict by Prudential, all of the retirees recovered more than 100% of their actual losses.
100-Year Old Widow
David Meyer, the founding partner at Meyer Wilson, represented a 100-year-old widow in an investment fraud case against multiple large financial institutions. The case resulted in $30,000,000 recovered in a confidential settlement on behalf of the widow. This covers 100% of the widow's losses.
Meyer Wilson represented more than 75 Midwest retirees against their brokerage firm who lost a substantial portion of the retirees' life savings. The clients collectively received more than $10,000,000 in a settlement.
a Large Group of
Recovery against a major national brokerage firm for a group of over 100 individual investors throughout the country in FINRA arbitrations alleging losses stemming from mortgage backed securities.
Recovered for a Group
of Midwest Clients
Meyer Wilson represented more than 50 families in the Midwest who suffered dramatic losses in their investment accounts and recovered in excess of $5,000,000 from the brokerage firm in a settlement prior to the FINRA arbitration hearings.
Elderly Victim in
Ponzi Scheme Case
Meyer Wilson recovered more than $3,800,000 for an elderly victim of a Ponzi scheme in case involving claims that the financial institution ignored many red flags.
Recovered for More
Than 50 Families of Ponzi
Scheme in California
Victims of a large-scale Ponzi Scheme in Northern California recovered $3,200,000 of their investment losses through a settlement of several FINRA arbitration cases pursued by Meyer Wilson. The case was filed against the brokerage firm that was responsible for supervising the broker who committed the fraud.
Recovered for Elderly
Ponzi Scheme Victim
Meyer Wilson recovered more than $3.2 million for an elderly victim of a Ponzi scheme in a case involving claims that the financial institution ignored many red flags.
Recovered for 35
Families in Northeast
Meyer Wilson represented this group of individuals from Northeast Ohio against a national brokerage involving losses suffered in "promissory notes" sold by a broker registered with the brokerage firm.
for 20 Retirees
Meyer Wilson represented 20 Midwest families who lost more than 90% of their investments and recovered $3,000,000 from the brokerage firm responsible.
Recovered for Retired
Physician Against Major
Wall Street Firm Prior to
Filing FINRA Arbitration
Meyer Wilson was successful in negotiating an investment fraud recovery of $2,500,000 for a retired physician after his financial advisor falsified documents and traded in the investment accounts without authorization. The settlement obtained by Meyer Wilson against the brokerage firm represented an amount in excess of the client's actual investment losses and the case was resolved on a "pre-filing" basis, meaning the settlement was reached before filing a FINRA arbitration.
Recovered for Nine
Families in Florida
Nine families in Florida hired Meyer & Associates to pursue losses against a large brokerage firm involving unlicensed securities sold by a registered stockbroker.
Ponzi Scheme Recovery
A Colorado-based brokerage firm agreed to pay $650,000 to two Meyer Wilson clients (a California doctor and his daughter) who invested in what turned out to be a longstanding Ponzi scheme operated by their broker. The clients believed that they were investing in secured note funds. In reality, the note funds were a sham, and the broker used the clients’ money to fund a lavish lifestyle that included airplanes, a boat, and various cars and motorcycles. The broker ultimately pleaded guilty to various federal charges and was sentenced to 6.5 years in prison. The brokerage firm agreed to settle the claims even though it alleged that it was unaware of the broker’s misconduct and despite the fact that the daughter did not open a brokerage account with the firm.
Recovered for Retired
Ohio Couple Relating
to Whole Life Insurance
Policies Sold by Their
An Ohio financial advisor convinced a retired Ohio couple, both of whom were in their early 70s at the time and completely free of any debt, that to achieve their estate planning goals they needed to take out a $1.2 million mortgage on property that they owned to fund three whole life insurance policies. The policies came with combined monthly premiums exceeding $38,500 (or $462,000 per year). The financial advisor assured the couple that the policies would ultimately pay for themselves. About three years later, however, it was apparent that the policies would never work as promised. By that time, the mortgage proceeds were entirely depleted, and the dividends from the policies were still not nearly enough to cover the hefty monthly premiums. Meyer Wilson filed claims on behalf of the couple against the financial advisor’s supervising brokerage firm. The brokerage firm filed a motion to dismiss arguing that it did not have any duty to supervise the sale of whole life insurance. The arbitration panel denied the brokerage firm’s motion. Meyer Wilson ultimately negotiated a settlement recovering nearly all of the couple’s actual losses.
Recovered for Investor
in Ponzi Scheme
The victim of a large-scale Ponzi scheme in the Midwest recovered $650,000 of his investment losses from the brokerage firm responsible for supervising the broker who sold the fraudulent securities. Meyer Wilson filed a FINRA arbitration on behalf of the victim and then negotiated the settlement through the process of mediation by emphasizing all the red flags of the broker’s misconduct that the firm missed in its supervisory responsibilities.
Recovered in Legal
Meyer Wilson successfully settled claims against a law firm and its attorney that were brought in court on behalf of two retirees for the legal malpractice of an attorney attempting to represent them in an investment misconduct case. The attorney had no experience representing investors against brokerage firms and failed to timely file an appropriate action on their behalf. The two retirees then hired Meyer Wilson to represent them. The attorneys at Meyer Wilson were able to successfully argue that the clients’ underlying investment misconduct case was straightforward and had significant value. The settlement for these clients reflects what should have happened in the underlying case had the attorney properly and timely brought their claims before a FINRA arbitration panel.
Life Savings Recovered for Retired Widow after Unapproved Securities Sales
A 78-year-old retired woman recovered $530,000 of her lost retirement money after the securities fraud attorneys at Meyer Wilson filed claims against two independent broker-dealers who sold the unapproved securities.
Recovered for 68-year-old Retired Physician Against Brokerage Firm in Ponzi Scheme
After suffering devastating investment losses in a Ponzi scheme, the California retiree hired Meyer Wilson to pursue claims against the brokerage firm that was responsible for supervision its financial advisor who ran the scheme. Meyer Wilson negotiated a settlement for the investor in the amount of $500,000.
Recovered for Texas Investors
Meyer Wilson successfully negotiated individual settlements on behalf of a group of Texas investors who were each sold unsuitable investments by the same stockbroker. Each investor’s portfolio was heavily concentrated in oil-related stocks and sustained significant losses when the energy markets declined in 2015. Many of the investors were retirees who saw their portfolios decline by 50 percent or more. The brokerage firm agreed to settle all of the investors’ claims within less than six months after the claims were filed by Meyer Wilson.
Recovered in Broker Theft Case Involving Large National Brokerage Firm
Meyer Wilson recovered $450,000 on behalf of a developmentally impaired individual who was the victim of theft by her stockbroker. The broker – who was later sentenced to five years in prison for his crimes – orchestrated dozens of money transfers directly from the victim’s brokerage accounts to outside third-party bank accounts that were set up in the victim’s name and over which the broker controlled. From there, the broker stole the victim’s money. Although the victim’s brokerage accounts were entirely depleted within a short three-month timeframe, documents obtained by Meyer Wilson during the course of the case showed that the brokerage firm never made a single compliance inquiry into any of the withdrawals. The brokerage firm agreed to settle the victim’s claims for an amount in excess of the victim’s total losses.
Recovered on Behalf of Michigan Ponzi Scheme Victims
Meyer Wilson negotiated settlements on behalf of two separate clients who were victimized by a Ponzi scheme perpetuated by their former stockbroker. The scheme involved the sale of sham investments and the improper wiring of money from the customers' brokerage accounts directly to outside bank accounts owned and controlled by the stockbroker. Meyer Wilson asserted that the brokerage form ignored obvious red flags and failed to properly supervise the activities of its licensed salesperson.
Ponzi Scheme Losses Recovered by Meyer Wilson Against Brokerage Firms
Meyer Wilson represented a group of individuals who were victims of a Ponzi scheme operated by a financial advisor in Ohio. The scheme went on for several years and the broker was affiliated with two different brokerage firms during that time. Meyer Wilson filed a FINRA arbitration case against the two firms on behalf of the group of victims and obtained a settlement for the group.
Recovered for Elderly Widow
Meyer Wilson recovered $415,000 on behalf of an elderly widow against a large national brokerage firm that failed to process a husband’s written instructions making his wife the beneficiary of two annuities. When the husband died, the wife learned that the brokerage firm never sent the change-of-beneficiary forms to the annuity companies. Because of the brokerage firm’s mistake, the annuity companies refused to pay the widow any death benefits. Meyer Wilson successfully negotiated a substantial settlement paid by the brokerage firm.
Recovered for Clients in Broker Theft Case
Meyer Wilson successfully settled claims against a brokerage firm for $345,000 that were brought on behalf of an elderly Michigan couple relating to various fraudulent transfers made in their investment accounts by their broker. The evidence uncovered by Meyer Wilson proved that the broker forged transfer forms, generated phony investment certificates, and transferred money directly from the clients’ investment accounts to third-party bank accounts that the broker owned or controlled. The settlement amount paid by the brokerage firm reflected over 98% of the money that was directly withdrawn from the clients’ brokerage accounts by the broker.
Settlement Recovered for Ohio Retiree
Meyer Wilson investment fraud attorneys represented a 93-year-old man against a national full-service brokerage firm and received a $325,000 settlement over broker misconduct in overconcentration and unsuitable investments, including leveraged ETFs.
Losses Recovered for NY Real Estate Investor Caused by Lack of Due Diligence
$265,000 lost in a tenancy-in-common (TIC) investment was recovered by the Meyer Wilson investment fraud attorneys for a New York real estate investor. The claims were filed by Meyer Wilson against two independent broker-dealers relating to failure to perform adequate due diligence on the real estate investment prior to recommending it to the client.
Brokerage Firm Pays Settlement Relating to Improper Sales of Alternative Investments
A large independent brokerage firm settled with Meyer Wilson clients relating to its improper sale of several private placements and real estate investment trusts. The claims on behalf of these investors focused on the lack of due diligence performed on the recommended products, as well as misrepresentations of the risks (or lack thereof) involved. The couple’s entire life savings was decimated after they agreed to the investment proposal on the belief that it was suitable for them.
Recovered for 89-year-old Woman
An 89-year-old woman recovered nearly a quarter-million of lost retirement money after Meyer Wilson filed a claim on her behalf against her brokerage firm. The firm's registered representative fraudulently sold her a whole life insurance policy as part of an overall investment scheme that caused her significant losses and was wholly unsuitable. The money recovered was a significant portion of the investments she made into the insurance policy. The attorneys at Meyer Wilson were able to successfully defeat the brokerage firm's motion to dismiss, which argued that claims were not appropriate since the life insurance policy was not a security. The arbitration panel agreed with Meyer Wilson, which argued that the life insurance policy was part of an overall investment strategy recommended to the claimant by her financial adviser.
Large Independent Brokerage Firm Pays Settlement Relating to Improper TIC Sales
A large independent broker-dealer entered into a settlement with Meyer Wilson clients relating to the improper sale tenants-in-common interests, or TICs, to three California customers. A TIC is an undivided interest in real property. Many brokerage firms sell TICs to their customers as a way to purportedly invest in commercial real estate ventures like shopping malls. Meyer Wilson's claims focused on the brokerage firm's failure to conduct proper due diligence and misrepresentations made by the brokerage firm's registered representatives downplaying the substantial risks that TICs involve.
Ponzi Scheme Losses Returned to California Victims
Meyer Wilson represented a group of individuals who were victims of a Ponzi scheme operated by a financial adviser in California. The broker was affiliated with a large independent broker-dealer during the time he sold numerous fraudulent promissory notes to investors. Meyer Wilson filed a FINRA arbitration case against the firm on behalf of the group of victims and recovered a settlement of $225,000 for the group.
Retired Connecticut Executive Recovers in Lost Investments
The Meyer Wilson investment fraud attorneys recovered $210,000 for a retired 95-year-old Connecticut man who lost money due to investments in an unregistered private investment pool managed by a brokerage firm’s registered representatives.
Retired Cincinnati Couple Recovers in Churning Case
Meyer Wilson successfully settled claims on behalf of a husband and wife who were the victims of a long-time churning scheme perpetuated by their stockbroker involving unit investment trusts (UITs). UITs are similar to mutual funds and intended to be long-term investments, but the broker in this case frequently purchased and held UITs in the customers' accounts customers for only a few months at a time before selling and purchasing different UITs, generating a commission on each purchase and sale. The final settlement negotiated by Meyer Wilson represented a substantial portion of the clients' overall losses.
Meyer Wilson Wins FINRA Arbitration - Brokerage Firm Hilliard Lyons Ordered to Pay
A Financial Industry Regulatory Authority (FINRA) arbitration panel unanimously ordered brokerage firm, Hilliard Lyons, to pay damages, attorneys' fees and costs of more than $180,000 to a client represented by Meyer Wilson. The brokerage firm filed an appeal in federal district court and the appealed was denied in its entirety. The federal judge affirmed and upheld the entire arbitration award in favor of Meyer Wilson's client.
Utah Retiree Recovers in Case Involving Illiquid Alternative Investments
A 74-year-old’s savings were wiped out as a result of a highly inappropriate investment plan implemented by his broker in a non-traded equipment leasing fund and a non-traded real estate investment trust. His advisor continued for years to misrepresent the nature and value of the investments, up until the broker was fired from the firm. Meyer Wilson successfully defeated a motion to dismiss by the brokerage firm and negotiated a settlement of $172,500.
Health Professional Recovers Against Large Independent Brokerage Firm
The Meyer Wilson investment fraud attorneys represented an Ohio based health professional against an independent broker-dealer for churning, unauthorized trading, improper use of margin, and unsuitable investments, including leveraged ETFs. The client received a $149,900 settlement.
Brokerage Firm and Control Person Settle Claims Relating to Improper Sales of Private Placements
A brokerage firm and one of its control persons entered into a substantial settlement involving the improper sale of highly speculative private placements to a 65-year old brokerage customer from Texas. Despite the customer's age and financial situation, the brokerage firm recommended and facilitated the customer investing a substantial portion of his life savings into eight different, highly risky, completely illiquid private placements. Each private placement ultimately failed and suffered substantial losses. In addition to being unsuitable for this particular customer, Meyer Wilson also argued that documents produced by the brokerage firm during the arbitration proved that the brokerage firm and the control person responsible for performing due diligence failed to conduct any meaningful analysis and investigation of the private placements before allowing them to be sold to the brokerage firm's customers.
Widow Recovers in a Non-Traded Real Estate Investment Trusts (REITs) Case
Meyer Wilson successfully recovered $142,500 for a 57-year old Florida widow whose life savings was invested in various unsuitable investments, including non-traded real estate investment trusts (REITs). A REIT is a company that owns or finances income-producing real estate. A non-traded REIT is not traded on a major stock exchange. Meyer Wilson argued that the investments sold to the widow were unsuitable and that the brokerage firm failed to properly supervise the investment recommendations made by its brokers.
Stock Option Losses Recovered
Meyer Wilson was successful in recovering $130,000 for a couple after their financial adviser invested them almost exclusively in options. Their entire life savings were decimated after the adviser recommended and sold highly risky options to the retirees who were living on a fixed income.
FINRA Arbitration Panel Awards Family of Elderly Woman 100% of Losses
Meyer Wilsons' clients were awarded their entire losses by a FINRA Arbitration Panel in Columbus, Ohio. The Panel awarded $109,844 against the brokerage firm and assessed all hearing fees in the amount of $9,000 against the firm.
Georgia Trust Beneficiary Recovers On Unauthorized Trading Claim
Meyer Wilson investment fraud attorneys were successful in recovering $100,000 in damages from a major brokerage firm that made unauthorized trades in a trust account after the trustee had passed away.
Business Owner Recovers After Stock Overconcentration
A prominent Ohio business owner regained $100,000 after the investment fraud attorneys of Meyer Wilson negotiated claims against an independent broker-dealer over overconcentration of investments in a single financial company stock that collapsed during the 2008-2009 stock market crash.
Meyer Wilson Recovers Money for Labor Union Lost in Ponzi Scheme
The investment fraud lawyers at Meyer Wilson recovered $100,000 on behalf of a labor union against independent broker-dealer relating to losses sustained in a massive, multi-state Ponzi scheme orchestrated by the investment firm’s registered representative.
Meyer Wilson Settles Case Against Brokerage Firm 30 days After Filing FINRA Arbitration
An investor who suffered a 98% loss of his account while following an investment recommendation to trade on margin recovered $79,000 from the brokerage firm and its owner. The settlement was made within 30 days of filing the FINRA arbitration. The investor had no prior experience investing on margin, nor any knowledge about the risks he was recommended to take.
Illinois Couple Recovers Investment Losses
Meyer Wilson investment fraud attorneys successfully recovered losses from an independent broker-dealer whose registered representative sold unapproved securities. The Meyer Wilson arbitration attorneys achieved this settlement for an Illinois couple after successfully defeating the brokerage firm's motion to dismiss, which argued that claims were not appropriate because the claimant never opened an investment account with the firm.