Investigation of Potential Claims Against Stifel, Nicolaus for Actions of Former Cordova, Tennessee Broker William Bradford Coolidge
Hardee, Martin & Donahoe is actively investigating potential legal claims and loss recovery options against brokerage and investment banking firm Stifel, Nicolaus & Co., Inc. for actions of one of its former registered representatives in its Cordova, Tennessee office – William Bradford Coolidge (also known as Brad Coolidge).
On January 24, 2014, Mr. Coolidge submitted a Letter of Acceptance, Waiver and Consent (“AWC”) to FINRA (the “Financial Industry Regulatory Authority”) for the purpose of “proposing a settlement” of allegations that he had engaged in various industry rule violations while working for Stifel, Nicolaus. Coolidge allegedly engaged in unauthorized trading and “made unsuitable recommendations” to customers “to switch from mutual funds and Unit Investment Trusts (“UITs”) to other mutual funds or UITs after holding the investments for a short time period.” See FINRA Case # 2012032916701. Coolidge’s unauthorized trading and unsuitable investment recommendations resulted not only in investment losses to customers, but also the payment of commissions alone totaling over $160,000. Without admitting or denying these allegations, Coolidge consented to a permanent bar from association with any FINRA member in any capacity.
Industry rules require brokerage firms such as Stifel, Nicolaus to properly supervise the activities and trading activity of their registered representatives such as Mr. Coolidge. Consequently, customers of Mr. Coolidge may have claims for recovery of their investment losses, commissions paid and other compensatory damages against Stifel, Nicolaus.
If you were a client of Coolidge or Stifel, Nicolaus & Co. and have suffered losses, you may able to recover your losses through securities litigation or arbitration. Please contact Rebecca Griffey with Hardee, Martin & Donahoe at 1-800-441-3193 for a FREE, NO OBLIGATION consultation to discuss your legal rights and explore your options.