Treble damages awarded against financial advisor
This case involved a claim against a financial advisor alleging he lost much of the claimants’ money by investing it in a Polish tobacco company. An American Arbitration Association arbitrator awarded the claimants almost $50 million for the couple’s $13.5 million in losses in investments recommended by their investment advisor. The arbitrator awarded treble damages under the Pennsylvania Unfair Trade Practices Act and Consumer Protection Law.
Case Law Alerts, 3rd Quarter, July 2015
Case Law Alerts is prepared by Marshall Dennehey Warner Coleman & Goggin to provide information on recent legal developments of interest to our readers. This publication is not intended to provide legal advice for a specific situation or to create an attorney-client relationship. Copyright © 2015 Marshall Dennehey Warner Coleman & Goggin, all rights reserved. This article may not be reprinted without the express written permission of our firm.