The Investor Rights Clinic: A Success Story

December 17, 2018
Preston Hall

A FINRA arbitrator recently awarded a client of the Investor Rights Clinic 100% of her requested damages in an arbitration case that Haub Law students pursued on her behalf. The clinic’s client, Robin Tooker, is an unsophisticated investor of modest means. The Statement of Claim, drafted by clinic students, alleged that the broker and brokerage firm mismanaged our client's account and breached their duties to her by overconcentrating her investments in equities and further overconcentrating the equities in the energy sector. The Statement of Claim further alleged claims of negligent and unsuitable recommendations, breach of fiduciary duty, breach of contract, and negligent supervision. The FINRA arbitrator awarded our client $48,710.86, as well as 9% interest on that amount accruing since November 2017. Under the supervision of Professor Elissa Germaine, students were involved in every stage of the process, including conducting client intake, interviewing and counseling the client, investigating the facts, researching the legal claims and investments at issue, drafting the Statement of Claim and an expert's affidavit, selecting the arbitrator, conducting discovery, and drafting supplemental submissions.

The clinic’s client, Robin Tooker, notes that “[o]ver a two year period, four teams provided conscientious, professional, supportive and creative help. The entire process was reviewed step by step, discussed and explained - documents reviewed and paperwork edited - until I had an understanding on how to proceed. Their youth never seemed a handicap, and their enthusiasm was inspiring. The hands-on approach of the director and staff provided a strong backbone and for me was like having a professional coach. I couldn’t have paid for better legal representation. It was a privilege to be involved, and the outcome exceeded expectations.”

Congratulations to all involved!

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