Costello Law Group
Representing Clients Nationwide Free Initial Consultations
Local: 410-832-8800Toll Free: 877-418-0003

Exxon Retirees Receive $3.8 million Arbitration Award

U.S. Capital Advisors, an investment advisory firm located in Houston, Texas, was ordered to pay a group of Exxon retirees $3.8 million in damages for implementing an unstable investment strategy. According to the Wall Street Journal, the retirees were falsely told that there savings was invested in a strategy which would protect them from market downturns. Despite this assurance, the retirees lost their savings. The arbitration panel awarded the retirees $1.9 million dollars in damages, nearly $1 million for legal fees, and punitive damages in the amount of $852,630.

If you believe you have been victimized by securities fraud, financial malpractice, or theft by a FINRA registered broker, please call the securities attorneys of the Costello Law Group at (877) 418-0003 for a free consultation.

To read more, please visit: http://www.wsj.com/articles/texas-advisory-firm-ordered-to-pay-exxon-retirees-3-8m-1416512789

 

No Comments

Leave a comment
Comment Information

Contact Our Firm

Bold labels are required.

Contact Information
disclaimer.

The use of the Internet or this form for communication with the firm or any individual member of the firm does not establish an attorney-client relationship. Confidential or time-sensitive information should not be sent through this form.

close

Privacy Policy