Case no. 23-01342
David Jannetti et al. v Stifel, Nicolaus & Co., Inc.
Erez Law obtained an Award of $132M, including damages under Florida Statutes 517 – the Florida Securities Act, as well as attorneys’ fees and $79 million in punitive damages. The Award is notable for the 10 grounds listed by the panel as the basis for punitive damages. This is the largest award to a retail investor in the history of FINRA arbitration. The claim was based on the sale of structured notes and the management of a discretionary account. Erez Law obtained critical text message evidence which supported our clients’ claims. Erez Law represents a total of 19 clients of broker Chuck Roberts in 19 separate arbitration cases. The case is notable in that the arbitrators found a violation of the Florida Securities Act and awarded significant punitive damages against Stifel, Nicolaus & Co., Inc.