David Meyer, 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.
$10,000,000 Recovered in Retirement 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.
$6,500,000 Recovered for a Large Group of Individual Investors
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.
$5,000,000 Recovered for 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
$3,800,000 Recovered for 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.
$3,200,000 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.
$3,200,000 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.
$3,100,000 Recovered for 35 Families in Northeast Ohio
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.
$3,000,000 Losses Recovered 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.
$2,500,000 Recovered for Retired Physician Against Major Wall Street Firm Prior to Filing FINRA Arbitration
Meyer Wilson was successful in negotiating a 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.
$1,800,000 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.
$650,000 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.
$650,000 Recovered for Retired Ohio Couple Relating to Whole Life Insurance Policies Sold by Their Financial Advisor
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.
$650,000 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.
$550,000 Recovered in Legal Malpractice Case
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.
$530,000 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.
$500,000 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
$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.
$450,000 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.
$425,000 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.
$425,000 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.
$415,000 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.
$345,000 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.
$325,000 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.
$265,000 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.
$262,500 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.
$245,000 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.
$225,000 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.
$210,000 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
$180,000 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.
$180,000 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.
$172,500 Utah Retiree Recovers in Case Involving Illiquid Alternative Investments
A 74-year-old’s savings was 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
$149,000 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
The client received a $149,900 settlement.
$145,000 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.
$142,500 Widow Recovers in a Non-Traded Real Estate Investment Trusts (REITs) Case
Meyer Wilson successfully in 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.
$130,000 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 was decimated after the adviser recommended and sold highly
risky options to the retirees who were living on a fixed income.
$109,844 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 $9,000
against the firm.
$100,000 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.
$100,000 Meyer Wilson Recovers Money for Labor Union Lost in Ponzi Scheme
The investment fraud lawyers at Meyer Wilson recovered $100,000 on behalf
of 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.
$79,000 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.
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.
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.