Silver Law Group is investigating claims against Stifel, Nicolaus & Company, Inc. for the sale of unsuitable investments.
Silver Law Group has filed a securities arbitration claim against Stifel, Nicolaus & Company, Inc. (“Stifel”) alleging the customers suffered significant losses due to unsuitable investments and misrepresentation of fees and commissions. The allegations include unsuitable investments, breach of fiduciary duty, negligence, breach of contract and failure to supervise.
Stifel’s broker allegedly recommended unsuitable investments to conservative retired customers. The investment recommendations included concentrating the accounts in below investment-grade corporate bonds and Puerto Rico bonds. The broker would regularly make the recommendation to sell one bond to purchase another bond with a higher coupon without explaining to the customers that the higher coupon carried higher risk.
The result of the recommended investment strategies was the loss of principal to the customers while generating mark-ups and commissions for Stifel. Due to this activity, Stifel is alleged to have failed to supervise its broker by allowing the activity to continue in the face of multiple red flags.
Silver Law Group is representing former customers of Stifel, Nicolaus & Company, Inc. in securities arbitration claims for losses alleging that the customers were recommended unsuitable investments, were misled about fees and commissions, and for breach of fiduciary duty.
If you wish to learn more about this lawsuit or if you have questions about this notice or your rights, please contact Scott L. Silver, managing attorney of the Silver Law Group, via telephone at (954) 755-4799 or via e-mail at ssilver@silverlaw.com.
Contact Our Firm if You’ve Invested with Stifel, Nicolaus & Company, Inc. and Lost Money
Silver Law Group handles securities and investment fraud cases on a contingency fee basis representing investors worldwide with their claims for losses due to stockbroker misconduct and investment fraud. Please contact Silver Law Group for a free consultation at ssilver@silverlaw.com or toll free at (800) 975-4345 to speak to an attorney about your legal rights. We have lawyers fluent in English and Spanish.