Fritz Menzer

AWARD ALERT! SSEK AND M&H REPRESENT RETIREES WHO WIN $2.6 MILLION AWARD AGAINST FIRST ALLIED SECURITIES FOR OVERCONCENTRATION IN NON-TRADED REITS

Retrieved on: 
Tuesday, March 15, 2022
First Allied Plaza, Fritz Menzer, Real estate investment trust, Health care, Investment, Multimedia, Safety, GNL, FINRA, Michael Griffin (American football), Fraud, NYSE, LLP, Panel, Financial adviser, Real estate

("M&H") are pleased to announce a significant award on behalf of their joint clients against First Allied Securities ("First Allied").

Key Points: 
  • ("M&H") are pleased to announce a significant award on behalf of their joint clients against First Allied Securities ("First Allied").
  • In the FINRA case, a retired couple from Arizona was awarded all its compensatory losses of $1.1 million.
  • In addition, the Panel saw fit to award market adjusted damages of $818,000, expenses of $40,000 and over $660,000 in attorney's fees.
  • The three-member arbitration panel was clearly troubled by First Allied's and its advisors' actions in rendering such a complete award.