Levinthal v. First Republic Securities Company, LLC ⇒ $2.17 million

The Law Offices of Cary S. Lapidus recovered $2.17 million for clients who sustained losses in a complex municipal arbitrage bond fund. The clients alleged that the fund was unsuitable for them and that the firm that recommended and sold the investment had failed to perform proper due diligence. The award is notable for awarding the full amount of the clients' damages, including out-of-pocket losses and arbitration expenses.

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“Cary Lapidus is probably the most well prepared attorney with whom I have ever dealt. He has excellent judgment and understanding of the law. Most important of all, he is highly ethical and those who deal with him know that his word is his bond.“
Paul Dubow
Opposing Counsel & Mediator in Six Cases


In The News

LEGAL LESSONS
Herb Greenberg
San Francisco Chronicle
March 27, 1995

It may not always pay to fight city hall, but if you're among the thousands of investors who lost millions by investing in several Prudential Securities limited partnerships back in the 1980s, it may have paid to fight Prudential. Most investors have merely accepted whatever Prudential is willing to pay as a settlement.
But as San Francisco securities attorney Cary Lapidus discovered, fighting has paid off -- at least for two of his clients. Eight years ago the two sisters, one of whom lives in Mill Valley, invested $109,000 in two Prudential partnerships thinking they were conservative investments. They received an arbitration award of $113,421. When combined with the $90,000 in distributions they already received, the payout not only gives them back their money, but it results in an annual return of 10 percent for the period the women have owned the partnerships.
Lapidus figures that had they merely made an offer, and accepted whatever Prudential offered, they would have received $18,000, plus attorneys fees. Attorneys fees were covered in this settlement.



Please contact us for assistance with securities arbitration law, securities litigation, broker misconduct, investment advisor misconduct and investment losses.

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