Defeating Respondents’ motion to dismiss pursuant to the FINRA 6-year eligibility rule, Bob Gonser went on settle their 60 year old client’s claims against his broker dealers for mismanagement and over-concentration of his portfolio in illiquid high risk securities. As client’s registered representatives failed to appear in the FINRA matter, Bob Gonser filed a motion for default and motion barring the representatives from presenting defenses at hearing. The FINRA panel found the registered representatives jointly and severally liable and awarded compensatory damages, interest and attorneys’ fees to Claimant.
