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Lett et al v Wells Fargo Advisors, LLC - $130,000 Suitability Award

In November 2011 a FINRA panel in Atlanta awarded Claimant compensatory damages of $130,000. Mr. Meyer testified about the excessive risk in the Claimant's securities, resulting in an unsuitable portfolio. In an explained award, the panel stated that "in choosing high-return securities for the account, with their attendant risk," Respondent Wells Fargo Advisors recommended an "unsuitable investment portfolio" to Claimant.

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Paul F. Meyer
Principal310.917.1075