CORAL SPRINGS, Fla., Sept. 5, 2008 (GLOBE NEWSWIRE) -- The Securities Law Firm, Blum & Silver, LLP, (http://www.stockattorneys.com) announced today that it has won a significant arbitration award (Case No. 07-02447) before the Financial Industry Regulatory Authority ("FINRA") regarding the sale of a hedge fund which had been approved by his firm. The FINRA Panel awarded approximately $280,403.88 in compensatory damages and over $800,000.00 in punitive damages and other relief to a former customer of David Applefeld ("Applefeld"), a FINRA registered broker during the relevant time period. The Arbitration Panel found Applefeld had engaged in gross misconduct including selling away.
Blum & Silver, LLP continues to investigate, on behalf of other clients, potential sales practice violations of licensed brokers at various securities brokerage firms, for the sale of hedge funds, real estate investments and other non-approved investments. Blum & Silver, LLP is pursuing arbitration suits before the FINRA for violations including failure to supervise, negligence, fraud, unsuitability claims, misrepresentation and material omissions of fact and trading activities. Blum & Silver, LLP has successfully prosecuted claims involving violations of Florida's elder abuse statute.
This case highlights the ongoing problem of trusted financial advisors selling investments not approved by their brokerage firms through gross misrepresentations and lack of supervision. Blum & Silver, LLP urges victims of financial misconduct to contact Blum & Silver, LLP to learn more about their legal rights.
The Law Offices of Blum & Silver, LLP is a nationally-recognized securities and commodities law firm headquartered in South Florida with satellite offices in New York and elsewhere. The primary focus of the firm is representing investors worldwide with their claims for losses due to stockbroker misconduct and brokerage firm negligence in securities and commodities litigation and arbitration matters. The firm is the lead counsel in numerous securities arbitration cases against many brokerage firms. If you wish to discuss this announcement or have information relevant to our securities and commodities arbitration claims, please contact Scott L. Silver, Esq. of Blum & Silver, LLP, at 1-877-STOCK LAW (1-877-786-2552) or visit us on the web at http://www.stockattorneys.com.
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