As reported in the widely read Bank Investment Consultant Newsletter July 25, 2017 edition – In a July 2017 Citizens Securities FINRA Arbitration the law firm Meissner Associates won a record 1.7 Million dollar FINRA AWARD in Pittsburgh Pennsylvania, against Citizens Securities subsidiary of Citizens Financial Group (NYSE: CFG) after turning the tables on the firm, which sought to recover $220,000 in upfront funds provided to him as part of their fraudulent recruitment. In addition, to compensatory damages and hundreds of thousands in interest, the award included thousands of dollars in monetary sanctions against Citizens Securities for not producing documents and all FINRA forum fees were required to be paid by the bank. As noted in the article such wins are unheard of by other attorneys who handle such disputes.
In a unique case involving blatant misrepresentations and false promises made by Citizens Securities to an investment advisor during the hiring process, who faced a $220,000 demand for return of promissory note funds because he left the bank just 4 months after starting, a FINRA Arbitration panel awarded the advisor nearly 1.7 million in damages, interest and sanctions. Despite the false promises all having been oral, we were able to decisively prove they were made and were not kept leading to the award.
The link to the article is Here. The article noted how the Meissner firm was able to obtain “smoking gun” emails in the Citizens Securities FINRA Arbitration which we were able to use to put the final nail in the case against the bank. Following such reporting other news organizations such as WealthManagement.com examined Citizen’s Securities recruitment tactics and noted Meissner Associates having now filed other similar multi million dollar FINRA arbitration claims against Citizens Securities as a result.
New York based Meissner Associates is a nationally recognized employment law firm on behalf of employees in the securities industry, as well as whistleblower, and investment fraud law firm representing SEC whistle-blowers, investors and securities professionals in FINRA arbitration and enforcement proceedings as well as institutional and retail investors worldwide in recovering improper investment losses and protecting the employment rights of employees in the securities industry in FINRA arbitration and AAA Arbitration. Managing member Stuart Meissner is a former Assistant District Attorney in Manhattan and Assistant New York State Attorney General in the Investor Protection and Financial Crimes Units.
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Nationwide FINRA representation – 866-764-3100