Mika Meyers Recovers $800,000 on Behalf of Retired Investor in Suitability Case

Following a four-day arbitration hearing in Detroit, Mika Meyers’ attorneys, Dan Broxup and Nikole Canute, obtained an $800,000 settlement on behalf of a retired investor in a suitability and breach of fiduciary duty case. The settlement amount was more than five times the out-of-pocket loss. The investor alleged that his stockbroker/investment advisor utilized discretionary trading authority to engage in a risky investment strategy that was contrary to the investor’s moderate investment objectives and low risk tolerance. If you think that you may have a claim relating to unsuitable investments or negligent investment advice, our experienced attorneys may be able to assist you in recovering damages through a FINRA arbitration proceeding.