Meyer Wilson Wins Full Recovery for Elderly Couple

Investor Claims Is What We Do - All Day, Every Day

Since 1999 our law firm has recovered more than $350,000,000 for victims of investment fraud and misconduct.
  • Jury Verdict Won Against Prudential Securities $262 Million
  • Recovered for 100-Year Old Widow $30 Million
  • Recovered in Retirement Losses $10 Million
  • Recovered for a Large Group of Individual Investors $6.5 Million
  • Recovered for Elderly Victim in Ponzi Scheme Case $3.8 Million
  • Recovered for Elderly Ponzi Scheme Victim $3.2 Million
  • Recovered for More Than 50 Families of Ponzi Scheme in California $3.2 Million
  • Recovered for 35 Families in Northeast Ohio $3.1 Million
  • Losses Recovered for 20 Retirees $3 Million
  • Recovered for Retired Physician Against Major Wall Street Firm Prior to Filing FINRA Arbitration $2.5 Million

Meyer Wilson Wins $117k for Elderly Couple

Stockbrokers and financial advisors have a duty to recommend investments that are appropriate based on your specific circumstances. Unfortunately, this doesn’t always happen.

Our firm was hired by an elderly couple in 2015 who had suffered substantial losses in their investment account, managed by their long-time and trusted financial advisor. At first, they didn’t really understand what had happened, and they asked their daughter for help looking things over. She immediately contacted our firm.

These clients had been using this particular financial advisor with no issues for many years. They were in their 90s at this point, retired, unsophisticated investors. They lived modest lives in rural Texas, paying their bills from social security checks and a modest teacher’s pension.

After our attorneys had a chance to dig into the monthly statements from their brokerage firm, it became obvious that the account was heavily concentrated in oil and gas securities starting in 2014. Of course, the oil and gas industry is extremely volatile. Their account was certain to collapse in the event of an energy downturn, which is exactly what happened in 2015. They lost nearly everything.

The worst part was that the clients had marked “preservation of principal” as their investment objective, signifying that they were conservative investors. What they received from the broker was far from conservative.

We took the case and filed it with the Financial Industry Regulatory Authority (FINRA) dispute resolution forum. A year later, after time for discovery and document exchange, we argued before an arbitrator in Dallas, TX that not only were the investments unsuitable, but the risks associated with the individual investments and the overconcentration was not disclosed to the clients.

Following three days of evidentiary hearing sessions, the arbitrator granted our clients full compensatory damages, costs, attorney’s fees, and interest, totaling about $117,000.

Often times, older investors understandably rely on their financial advisors to do the right thing and protect their interests, as they often suffer a cognitive decline that is just indicative of a ripe old age. What we see time and time again is that senior investors are vulnerable to this type of misconduct, and if often goes unnoticed or unreported.

If you have older family members who rely on financial advisors, it’s in their best interest to have a knowledgeable third-party in the line of communication regarding the account, simply to reduce the chance that these types of things don’t happen. If they already have happened, we may be able to help, as we did for this couple in Texas. But please, understand that prior results are not a guarantee of future results in other cases.

Call us to discuss your case with a member of our firm, or fill out the form on our website to schedule a free case evaluation today.

The Meyer Wilson Way

Results-Focused Representation
  • More than $350,000,000 Recovered
  • Voted Best Lawyers in America┬« for over Ten Years Running
  • David Meyer is President of Public Investors Advocate Bar Association (PIABA)
  • Over a Thousand Investor Claim Cases Since 1999
  • Exclusive Focus on Investor Claims & Class/Mass Action Lawsuits
  • Deep Bench of Skilled Attorneys and Staff Members

TRUSTED BY OVER 1,000 INVESTORS

Meyer Wilson has represented over 1,000 individual investors in high-stakes claims across the country, and has recovered over $350 million on their behalves. See what former clients have to say about our team.

  • “I primarily worked with Courtney Werning throughout the process and she was informative and knowledgeable. I trusted and fully recommend Courtney and her team.”

    - S.R.
  • “The communication throughout the process was on par - and they took the time to indulge me with the various questions and opinions.”

    - R.G.
  • “What I truly appreciated was getting a great result for my Mom with limited involvement/stress on her.”

    - S.W.
  • “We went to arbitration with the other respondent and I got to see firsthand the level of professionalism and expertise the Meyer Wilson firm can deliver.”

    - D.V.
  • “Chad would take the time to call and talk with me. His explanations were always clear and concise. I also appreciate all the effort put into the details and statistics required to argue this case.”

    - P.N.
  • “Meyer Wilson was able to produce the results that we felt were obvious and warranted while several other firms and even state offices simply had trouble understanding let alone moving the case forward.”

    - B.K.
  • “My overall experience was positive and I would encourage anyone who even thinks they have been a victim of stockbroker misconduct to call David.”

    - S.T.
  • “Meyer Wilson represented me in a suit brought last year against my brokerage firm, securing a very fair and equitable settlement for me.”

    - R.G., M.D.
  • “Right from the start, you had the passion and desire to win this case for us. I have never worked with an attorney or firm as compassionate as yours. I would highly recommend your firm to anyone.”

    - G.A.

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