With Max Simpson taking the lead, an elderly couple represented by Cosgrove Simpson brought state court claims against an investment adviser for Breach of Fiduciary Duty, among other claims. More specifically, the couple alleged that their portfolio was neglected and market opportunities were squandered due to inattention. Moreover, stocks designated as “off limits” to the adviser were traded regardless of those instructions.
The parties spent almost a year litigating whether or not an arbitration clause in an ancillary document was binding upon the specific claims at issue. The trial court ordered mediation before ruling, and the defendants settled after a long day of negotiations.
Cosgrove Simpson represents investors and advisers and broker-dealers nationwide.