Recently, a FINRA arbitration panel made a monetary award in the case of Stone & Youngberg v. Kay Family Revocable Trust, No. 3:11-cv-00198 (N.D. Cal., 6/22/11), which was appealed by the defense and lost.
This case involved the challenge by a broker-dealer to a $750,000 award to a former customer, who was advised by Stone & Youngberg to invest funds in a hedge fund known as FutureSelect Prime Advisor II. According to the Court, "each of the Trust's claims was based on the theory that Stone &Youngberg did not perform requisite due diligence before advising the Trust to invest in the Fund, which, according to the Trust, invested substantially all of its capital with Bernard Madoff...."
Attorney Lars Soreide would like you to know that if you or a family member have invested in the FutureSelect Prime Advisor II Fund with Stone & Youngberg, or another broker/dealer, call Soreide Law Group, PLLC and speak to a Securities Arbitration Lawyer for a free consultation on how to potentially recover your losses. To speak with an attorney, call 888-760-6552, or visit www.securitieslawyer.com.
Soreide Law Group, PLLC., representing investors nationwide before FINRA the Financial Industry Regulatory Authority.
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