Statement of Claim alleges an investment recommendation was made for the purpose of generating high commissions and fees and that the Claimants were deprived of the ability to generate reasonable returns that would have been received in a diversified portfolio.

$295,000.00

The arbitration was filed by 10 claimants. There is only one claimant in this arbitration that was a client of the representative. The client invested $30,000 in the disputed investment. The representative denies the allegations and asserts the investment purchased by the client was suitable based on the information the client provided to him. The representative was not involved in the settlement discussions and was informed by Cambridge that the $295,000 settlement was split between all 10 claimants. It is unknown what amount of the settlement was paid to the representative's client.