Wrongful Termination

Financial advisors at both broker/dealers and RIA firms across the country regularly turn to Matasar Jacobs after being wrongfully terminated. We defend our clients’ immediate interests, addressing regulatory issues, responding to investigations, negotiating reductions on outstanding loan balances, and pursuing compensation and benefits they are still owed. When necessary, we take legal action in court or arbitration to recover substantial damages caused by wrongful termination.

Our attorneys regularly assist clients with:

Securing favorable Form U5 language after termination;
Filing remedial language on BrokerCheck;
Negotiating discounts on outstanding promissory notes or forgivable loans; and
Responding to cease-and-desist notices tied to non-solicitation agreements.

In cases where firms manufacture grounds for termination, whether to withhold compensation or capture a client’s book of business, we aggressively pursue claims for wrongful termination and damages to protect our clients’ livelihoods.

Success Stories

Won Damages and U5 Expungement After Wrongful Termination

Following a wirehouse advisor’s termination after a slipshop “investigation,” Matasar Jacobs filed a FINRA arbitration claim for U5 amendment and damages. After a weeklong arbitration hearing, the arbitration Panel issued an award of substantial monetary damages and ordered that the damaging language on the client’s Form U5 be removed.

Defeated Firm’s Restraining Order and Protected Advisor’s Book

A major advisory firm intentionally fired a financial advisor client while he was out of his office, and then sought a court order preventing him from moving his practice. Matasar Jacobs successfully defeated the firm’s efforts to get a restraining order, and after obtaining evidence that the termination was part of a plan to steal our client’s book of business and redistribute it in the branch, obtained a favorable resolution of the litigation.

Forced Above-Market Sale After Sudden Termination

Represented a financial advisor with a boutique RIA who showed up to work on a Monday morning to find out his keycard had been deactivated and his employment terminated. Following urgent legal action to protect our client’s rights, negotiated the sale of our client’s practice for above-market value and enabled the client to retire from the financial advisory industry.

From the initial consultation through the final resolution, their team demonstrated an exceptional command of securities law, a strategic mindset, and a deep understanding of the regulatory environment affecting our industry.

Financial Industry Litigation