Impristine, I rattled the hypothetical little old lady example off of the top of my head. Don't understand where the scenario is flawed, but I wouldn't be surprised if I made a mistake in spitting it out. I agree the client placed a firm order.
If you meant the lame broker's claim that the little old lady didn't lose anything by his failure to execute her orders, we agree.
I have my own practice, which is limited in the area of investments to representing consumers against brokers. Client identities names are confidential, but we are talking about small investors.
(Actually, I once got talked into taking an $13,000 case on. Didn't wish to because the economics of scale made it impractical to take on such a small case, and it was on a contingency. If I win I get paid. If I lose, tough luck for me. I din't lose. A year later I get a referral from this client to a lady in a pricy area of the county. We meet and this lady informs me that my referral is the heiress of the founder and principal single stockholder in a Fortune 500 company. To shorten the long story, the lady with the $13,000 case that needed the money like a hole in the head, and was stingy as hell with expense money, got the best settlement of a group of clients. Believe it was $18,000. Not all do that well, one of the same group settled at the same court hearing for 50% or his loss. And yes, I have lost cases.) |
