Financial Services Professional Liability

Plaintiff / Appellant appealed trial court’s grant of summary judgment in this financial services liability claim, which involved omnibus claims against our financial professional client.

Secured an award in a AAA arbitration on behalf of their financial advisor client accused of breaching his fiduciary duties while executing trades in a managed trust account. In this regard, the advisor reallocated over $1 Million in highly appreciated assets as part of a diversification strategy, which resulted in capital gains that were not anticipated by the client. Those gains resulted in state and federal taxes that the client sought to recover as a result of the alleged unauthorized trading. After the merits hearing, the financial advisor was cleared of any wrongdoing and an award was issued in his favor denying all claims with prejudice.

Expungement of customer dispute awarded in favor of investment advisor/broker in FINRA arbitration hearing.

We represented a FINRA securities professional in attempting to remove three prior disclosures from his FINRA/securities record. The Panel granted our request for expungement and ordered the removal of all three disclosures from our client’s record.

Summary judgment granted in favor of a financial institution in a case arising from a dispute between an investment advisory firm and one of its representatives. Plaintiff asserted that our client tortiously interfered with the contract between the firm and its representative, and was seeking seven-figure damages. The Court agreed that Plaintiff failed to establish that there was a genuine issue of material fact as to our client's conduct, and therefore ruled in favor of our client.  

Represented client in FINRA arbitration to expunge defamatory statements from a Form U5 termination notice. The arbitration panel ordered that all negative references be expunged from our client’s record and also awarded a partial reimbursement of attorney fees.

Represented a client in a regulatory investigation by FINRA for more than two years in connection with a purported failure to supervise the actions of a registered representative allegedly engaging in extensive misconduct involving the marketing and sales of variable annuity products. After over a dozen rounds of discovery, the production of tens of thousands of pages of documents, numerous witness interviews, and extensive discussions with FINRA enforcement personnel, FINRA reported that it is closing its investigation without pursuing enforcement or sanctions against our client.

Summary judgment granted in favor of large financial institution/trust company and portfolio manager in a securities/trust dispute. 

Obtained a defense verdict in favor of individual business owner and two businesses who were being pursued for breach of contract, breach of fiduciary duty, fraud, among other claims, by Plaintiffs who were seeking nearly $2.0 million in damages. 

Obtained a dismissal of a lawsuit filed against financial advisor/insurance agent and financial services company for alleged breach of fiduciary duty, fraud, and breach of contract.

Defended broker-dealer client was the subject of a seven-figure customer complaint alleging overconcentration, unsuitable recommendations, and a lack of supervision concerning five alternative investments in various Real Estate Investment Trusts. The FINRA arbitration panel dismissed all claims against our client, holding that “any and all claims for relief… including any request for punitive damage, treble damages and attorneys’ fees, are denied.”

Brian Nally and Steven Chang recently obtained dismissal of a lawsuit pending in the U.S. District Court for the Southern District Court of Ohio, arising out of allegations that a financial advisor made various improper recommendations to a client. Reminger successfully obtained dismissal from the U.S. District Court, arguing that the Plaintiff failed to state a claim under various securities/criminal statutes and arguing that the claims were time-barred. After an appeal to the United States Court of Appeals for the 6th Circuit, the dismissal in favor of Reminger’s client was affirmed in all respects.

Plaintiff filed a lawsuit against our investment professional client, asserting various claims arising out of the recommendation of an annuity. We successfully argued the claims were time-barred, and further argued that the Plaintiff failed to state a claim under various securities/criminal statutes. The District Court agreed and dismissed all claims against our client. Additionally, the District Court deemed the Plaintiff a vexatious litigator under Federal law, and enjoined the Plaintiff from filing any new actions unless he sought permission from the Court in advance.

Plaintiff filed a lawsuit against our insurance and financial services client, alleging misrepresentation of policy coverage related to a motorcycle. We successfully argued that our client acted properly under applicable Iowa law, and obtained complete dismissal of all claims through the granting of our motion for summary judgment.

Autumn Health Care, et al v. Peoples Bank

Affirmation of trial court's granting of motion for judgment on pleadings and dismissal of all claims against bank-client. Also, reversal of trial court's dismissal of indemnification claim with instructions to the trial court allowing for seeking of judgment in favor for all attorney fees for defense of suit.

Defense of respondent insurance agent from claims of negligence, negligent and fraudulent misrepresentations, and unsuitability.

Plaintiff filed a lawsuit against our insurance agent client, alleging that the insurance agent recommended unsuitable insurance products and committed fraud through alleged misrepresentations and omissions in presenting the products to the client. We successfully defended the insurance agent and obtained a complete dismissal of all claims.

Plaintiff filed a lawsuit against our banking client, alleging the bank improperly handled the collection on a loan. We successfully argued that the bank acted properly under the loan documents and applicable law, and obtained complete dismissal of all claims.

Defense of negligence deception, and criminal conversion, alleging that the estate was entitled to punitive damages based on transfer of decedent’s funds

FINRA Arbitration

Messmer v. KDK Financial Services, Inc

Plaintiff appealed adverse trial court judgment in financial services liability claim

Defense of putative class action alleging fraud, breach of fiduciary duty, unjust enrichment, and breach of privacy claims against an asset retrieval company for services performed throughout Ohio.

Stipulated dismissal of financial advisor on plaintiffs claims of fraudulent inducement to purchase universal life insurance policy

Defense of an insurance agent from a claim of declaratory judgment brought by a Plaintiff who asserted that she should have been the only beneficiary on a life insurance policy.  

Obtained summary judgment in favor of an annuity broker facing claims of financial services fraud.

FINRA arbitration of broker/dealer financial services liability claim

Defense against fiduciary claims asserted by a Plan participant against actuary for improper distributions of Plan assets

Dublin Eye Associates, P.C., et al. v. Massachusetts Mutual Life Insurance Co.

Plaintiff appealed adverse U.S. 6th Circuit Court of Appeals judgment in ERISA breach of fiduciary duty claims.

Defense of accounting malpractice claim                           

Defense of financial services professional liability claim

Defense of financial services error & omission claim

Early dismissal of certified public accountant on claims of malpractice and conspiracy

Defense of arbitration claim brought forth by claimants concerning the purchase of five variable annuity products. After claimants' case-in-chief, the arbitrator panel granted directed verdict and agreed that the claim was factually impossible and there was an absence of damages.

Defense of broker dealer financial services liability claim

Defense of broker in financial services liability claim

FINRA Arbitration defense of securities broker dealer

Defense of disciplinary action by Certified Financial Planning Board

FINRA arbitration defense of financial services professional liability claim

FINRA Securities Arbitration defense involving claim of unsuitability of variable annuity products to plaintiffs