SETTLEMENT
$6,200,000 recovered for ultra high net worth individual against major brokerage firm.
Erez Law recovered $6,200,000 in 2017 against a major brokerage firm for an ultra high net worth investor. The claims were based on unsuitable recommendations to invest in proprietary closed-end funds and to concentrate in one asset class. Erez Law brought claims for negligence, breach of fiduciary duty, fraud and negligent supervision. The settlement is notable for the size of the settlement and percentage of losses recovered for an ultra high net worth individual.