Fornell v. Morgan Keegan Firm obtained an Award against Morgan Keegan for $195,000 plus costs of $20,000 and attorney's fees for an investor who had out of pocket losses of $105,000 in the RMK funds. The Award of compensatory damages of $195,000 was for "well managed damages" which are damages intended to put the investor in the position he would be in if invested in appropriate investments. The arbitration panel also made a finding that the broker was a co-trustee of the pension plan and as such awarded attorney's fees allowed under the ERISA statute. View Award
Gubman v. GMS Group, LLC; FINRA Case 10-02738 (2012 WL 188971); Firm obtained an award against GMS Group, LLC in the amount of $69,865.93, for an investor who suffered a principal loss of $55,231 in Main Street Natural Gas Ser 2008A Proj Rev bonds. The award represented 100% of the investor's principal loss ($55,231) plus the interest payments the investor would have received from the Main Street bonds if they had not defaulted. The Main Street bonds were closely linked to to the credit risk of Lehman Brothers. The FINRA arbitrator found that the brokerage firm was liable for breach of fiduciary duty, negligence, and breach of contract for failing to disclose the extent to which the investor would be exposed to the credit risk of Lehman Brothers. View Award
Katz v. MRT Holdings, LLC ., et al., 07-cv-61438 (S.D. Fla.). Ponzi scheme action, where Sonn | Erez appointed class counsel; the Court determined that the Firm had set forth substantial qualifications in the handling of similar matters. Thereafter, the Firm Obtained a $50 million judgment against Ponzi scheme operators. Sonn | Erez then appointed as counsel to Receiver for Ponzi scheme operators.
First Union National Bank v. FDIC, et al., 95-cv-708 (S.D. Fla). Jeffrey Sonn, Esq. served as trial co-counsel for Hollywood Associates in a contract action against the Resolution Trust Corporation and recovered $16 million.
Goldberg v. Michael J. Malik, Case No. 08-cv-60870 (S.D. Fla). The Firm was approved by the S.E.C. and the Court to serve as special counsel to S.E.C. Receiver, Michael Goldberg, in a $350 million dollar Ponzi scheme, to recover fraudulent transfers of assets. The Firm won a favourable settlement for the receiver.
Cordova vs. Lehman Brothers, et al, 05-cv-21169 (S.D. Fla.). The Firm successfully defended a financial advisory firm in a securities fraud class action that alleged a Ponzi scheme.
Sims v. Lennar Corp., Case. No. 97-8577 (Palm Beach Cir. Ct.). Plaintiff's counsel in a class action alleging consumer fraud for over 2000 homeowners. The class action was settled favorably for all Plaintiffs.
In re: Samco Financial Services (FINRA). The Firm represented over 60 investors in a series of securities fraud arbitrations that involved complex derivatives known as inverse floaters. Investor losses exceeded $10 million. The Firm obtained a favorable settlement for all the investors.
Regas v. Painewebber, (NASD). The Firm obtained a $2.2 million dollar verdict against Painewebber for negligence in a securities action. View Award
Kirk v. E-Net, Inc., 99-cv-8810 (S.D. Fla.). The Firm represented a group of investors against a public company in a dispute over securities and registration rights. The firm obtained a favorable settlement of $1,350,000.
Tartell, et al. v. Krieger Fin. Servs, et al. (FINRA). The Firm obtained a $1.7 million dollar verdict in a Ponzi scheme arbitration action.
Cobb vs. Morgan Keegan & Co. (FINRA). The Firm obtained a $1.1 million dollar verdict against Morgan Keegan, in a case alleging securities fraud over the sale of Morgan Keegan closed-end and open-end mutual funds, known as RMK Mult-Sector High Income Fund (RHY), RMK Advantage Income Fund (RMA), RMK Select High Income (MKHIX), RMK High Income Fund (RMH), RMK Strategic Income Fund (RSF). The verdict and subsequent recovered amounted to 80% of the investor's net losses. View Award
Miniaci et al vs. Morgan Keegan & Co. The Firm obtained a $1,080,00 million dollar verdict against Morgan Keegan, in a case alleging securities fraud over the sale of Morgan Keegan mutual funds. The verdict and subsequent recovery amounted to 100% of the investor's net losses. View Award
Phillip Richardson v. Morgan Keegan & Co. (FINRA). The Firm obtained a $430,000 verdict against Morgan Keegan, in a case alleging securities fraud over the sale of Morgan Keegan open-end mutual funds, known as RMK Select High Income (MKHIX), RMK Select Intermediate Fund. The verdict represented 126% of the net out of pocket losses. View Award
Humphries v. Morgan Keegan & Co. (FINRA). The Firm obtained a $286,000 verdict against Morgan Keegan, in a case alleging securities fraud over the sale of a Morgan Keegan open-end mutual fund, known as the RMK Select Intermediate Fund. The verdict including a finding that Morgan Keegan violated the Mississippi Securities Act and represented a recovery of all net out-of-pocket losses, interest, and attorneys fees and costs. View Award
In re: Louis Beloff, Debtor. Mr. Sonn successfully obtained a verdict for investors at a bankruptcy trial against a debtor who perpetrated a Ponzi scheme. The court awarded the so-called "protected" assets in the pension fund of the debtor to the investors.
In re: Premium Sales Corp. Mr. Sonn served as co-counsel for the creditors committee in a $160 million dollar Ponzi Scheme. Investors recovered a significant portion of their losses.
City of Beaumont vs. Ewton. (S.D. Fla. 1988). Successfully defended Ronald Ewton and his wife in a securities-fraud claim, where Ronald Ewton (the E, in ESM Government Securities Ponzi scheme) was accused of perpetrating a $500 million dollar Ponzi scheme.
S.E.C. v. Poster (SEC Admin Proceeding) (defended insider-trading case against casino owner).
$16,000,000.00 verdict won at the federal appeals court, in a contract/securities action against the Federal Deposit Insurance Corporation.
$5,700,000.00 recovery for a group of investors alleging they were defrauded in unauthorized trading and misuse of margin in the purchase of mortgage backed securities (aka CMOs).
$3,900,000.00 recovery for an octogenerian retiree alleging fraud, undue influence by the broker in accepting gifts and inserting themself in the client's estate planning, and failure to timely hedge a large stock position.
$3,200,000 recovery for investors in variable annuity products.
$2,500,000 recovery for an investor in structured products;
$2,206,000.00 verdict in an NASD arbitration case for a retiree against Painewebber.
$2,200,000 recovery for investors in collateralized debt obligations.
$2,000,000 recovery for an institutional investor, a hedge fund, against a hedge fund manager, in federal court, alleging breach of fiduciary duty in managing hedge fund investments.
$1,395,000.00 recovery in a federal court action for investment bankers and investors against a public company for refusing to timely register stock and warrants earned in an investment banking deal.
$1,250,000.00 recovery in an NASD arbitration for an investor, alleging fraudulent recommendations using stop-losses.
$1.1 million verdict for an investor in mutual funds containing risky asset backed securities.
$1,080,000 verdict for investors in mutual funds containing risky asset backed securities.
$900,000.00 recovery in an NASD arbitration for an international businessman, alleging negligent advice in a financial plan and the misuse of currency trading on margin as a hedge against the account.
$900,000.00 recovery for a group of investors alleging they were defrauded by the same broker in a purported guaranteed-investment scheme.
$850,000.00 verdict against Morgan Stanley for a retired, elderly World War II hero in a mutual fund fraud case, including $600,000.00 in well-managed portfolio damages and $250,000.00 in punitive damages, where the net out of pocket losses were $370,000.00. View Award
$850,000.00 recovery following an NASD arbitration trial for two physicians who were give negligent advice on how to hedge or protect a large concentrated stock position.
$850,000 recovery for a group of investors in a principal guaranteed mutual fund investing program; significantly, the firm made the recovery against a brokerage firm that served as the introducing firm for a failed broker dealer.
$190,000 verdict in a fraud case where the net losses were just $16,000. View Award
