Kokshanian v. Spectrum Securities

Our client was employed as a bus mechanic with the City of Los Angeles. He went to the defendant’s stock brokerage house and was induced by a broker to invest his life savings of $30,000 in three highly speculative limited partnerships involving a cosmetic store chain. The client lost all of his money. This action was brought before the NASD to compel the defendants to pay our client the monies he lost.