As Reported recently by well read WealthManagement.com on August 21, 2017, since our record 1.7 Million Dollar FINRA Arbitration Award against Citizens Securities, subsidiary of Citizens Financial Group (NYSE: CFG). this past July, the Meissner law firm has since been preparing and filing other similar claims of false oral promises being made to other investment advisors and brokers, against Citizens Securities involving similar misleading recruitment tactics employed for years across the country including, New York, Michigan, Pennsylvania, Massachusetts and other places, as referred to in the Wealthmanagement.com article. Such tactics include the alleged offering of false books of business and promises of maintaining specific branch locations to maintain one’s client base, so as to entice employees to join Citizens Securities. Once on board representatives are committed to stay by upfront bonuses which require that the representative stay with the bank or having to immediately pay the sums back. Not withstanding the fact that all representations in the case were all oral and not in writing, the Meissner firm was able to prove they were made and Citizens Securities was held liable by the Pittsburgh Pa panel for 1.5 million in compensatory damages, hundreds of thousands in retroactive interest and thousands of dollars in sanctions for attempting to hide discovery along with having to pay all FINRA forum fees of thousands of dollars.
The direct internet link to the article can be found Here.
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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