Axos Clearing Could Pay Up To $49.2M To More Than 100 Customers Of Defunct Brokerage Firm Worden Capital Management

Published on: July 9, 2026 | by Shepherd Smith Edwards & Kantas, LLP

Why This FINRA Arbitration Ruling Against A Clearing Firm Is Important For Investors

A FINRA arbitration panel ordered Axos Clearing to pay up to $49.2 million to over 100 former customers of the defunct brokerage Worden Capital Management for allegedly ignoring red flags and enabling broker misconduct. This ruling is highly significant for investors because it establishes that clearing firms can be held financially liable for disregarding fraud, providing a potential avenue for financial recovery even after a broker-dealer shuts down.

A Financial Industry Regulatory Authority (FINRA) arbitration panel ordered Axos Clearing, LLC to pay up to $49.2M to over 100 investors because of its role as the clearing firm of Worden Capital Management, which is no longer in operation. FINRA expelled the broker-dealer in 2022 following the misappropriation allegations.

Shepherd Smith Edwards and Kantas Is Investigating B Riley Broker William Mitchell Lefkowitz Over Investor Losses

Published on: June 4, 2026 | by Shepherd Smith Edwards & Kantas, LLP

Our Stockbroker Loss Lawyers Represent Claimants In FINRA Arbitration

The law firm Shepherd Smith Edwards and Kantas is investigating B. Riley Wealth Management financial advisor William Mitchell Lefkowitz following a $1 million FINRA lawsuit alleging broker misconduct, including churning, unsuitable trading, and a conflict of interest involving his wife as a trustee. The firm is actively seeking to represent other investors who may have suffered losses under Lefkowitz’s management or due to a lack of firm supervision.

If you suffered investment losses while working with B Riley Wealth Management financial advisor William Mitchell Lefkowitz, please contact Shepherd Smith Edwards and Kantas (investorlawyers.com). This longtime financial advisor of 40 years is under scrutiny following allegations of broker misconduct.

Shepherd Smith Edwards and Kantas Is Investigating Brokerage Firms That Sold Versity DSTs

Published on: June 2, 2026 | by Shepherd Smith Edwards & Kantas, LLP

Brokers Under Fire Over Allegedly Unsuitable Investment Recommendation of These Regulation D Offerings

Shepherd Smith Edwards and Kantas is investigating brokerage firms that unsuitably sold risky, illiquid Versity Investments Delaware Statutory Trusts (DSTs) to retail investors and retirees. The alternative asset firm faces allegations of a $56 million investment fraud, prompting the law firm to file FINRA arbitration claims to recover significant investor losses.

Shepherd Smith Edwards and Kantas FINRA Arbitration Attorneys (investorlawyers.com) are continuing to investigate the brokerage firms that sold Delaware Statutory Trusts (DSTs) from Versity Investments (NKA Crew Enterprises), including the following:

Investor Wins More Than $1.2M In Her Variable Annuity Case Against UBS Financial Services

Published on: May 21, 2026 | by Shepherd Smith Edwards & Kantas, LLP

FINRA Arbitration Panel Finds Broker-Dealer Liable For Compensatory Damages and Other Costs

A FINRA arbitration panel ordered UBS Financial Services to pay a widow over $1.2M in compensatory damages and costs after ruling that the firm was liable for losses sustained in her variable annuity case. The law firm Shepherd Smith Edwards and Kantas highlights this victory to demonstrate how their experienced FINRA Attorneys can help investors recover losses caused by broker misconduct and negligence.

UBS Financial Services must pay a widow more than $1.2M after a FINRA arbitration panel ruled in the Claimant’s favor. She had sued the brokerage firm over losses in a variable annuity that she bought using her retirement money.

UBS Must Pay $92M FINRA Arbitration Award Over Unsuitable High-Risk Tesla Short Strategy, Says Judge

Published on: May 18, 2026 | by Shepherd Smith Edwards & Kantas, LLP

FINRA Awards Are Considered Final, Which Is Why Investors Should Hire Seasoned FINRA Attorneys To Represent Their Case

A federal judge recently upheld a $92M arbitration award against UBS, reinforcing the reality that FINRA decisions are final and extremely difficult for brokerage firms to vacate. To navigate this high-stakes legal forum, investors should retain seasoned FINRA Attorneys who understand how to secure and protect multi-million dollar recoveries.

U.S. District Judge Stephanie M. Rose rejected UBS Financial Services’ efforts to vacate a $92M Financial Industry Regulatory Authority (FINRA) arbitration award imposed against the brokerage firm after several of its customers sued over what they contend was an unsuitable, aggressive, short-selling strategy involving Tesla (TSLA) stock.

Couple Files Vintage DST Lawsuit Against Capulent For Up to $500K

Published on: May 18, 2026 | by Shepherd Smith Edwards & Kantas, LLP

The Shepherd Smith Edwards and Kantas FINRA Law Firm Is Representing Claimants in Their Delaware Statutory Trust Loss Lawsuit

The Shepherd Smith Edwards and Kantas FINRA Law Firm is representing inexperienced investors in a six-figure lawsuit against Capulent over significant losses sustained in Vintage DST. The claim alleges that brokers unsuitably recommended these risky, illiquid investments while failing to disclose an ongoing $56M fraud involving Versity/Crew Enterprises.

Two investors are suing brokerage firm Capulent, financial advisor Edward Eric Fernandez, and firm control person Justin Matthew Bacchman over losses they sustained in Vintage DST from Versity Investments /(NKA) Crew Enterprises. The Shepherd Smith Edwards and Kantas FINRA Law Firm (investorlawyers.com) is representing these Claimants in their six-figure lawsuit against Capulent and its financial advisors. We are also representing other Versity/Crew Enterprises investors against other brokerage firms.

Tokyo Investor Sues Bankoh Investment Services Over Northstar Financial Services (Bermuda) Losses

Published on: May 5, 2026 | by Shepherd Smith Edwards & Kantas, LLP

Hawaii Broker Yoko Farias Is Also A Respondent In This FINRA Lawsuit

Shepherd Smith Edwards and Kantas is representing a Tokyo-based retiree in a $500,000 FINRA arbitration claim against Bankoh Investment Services and broker Yoko Farias over losses in Northstar Financial Services (Bermuda). The lawsuit alleges that the Respondents unsuitably recommended the high-risk, offshore annuities as safe investments despite the entity’s eventual bankruptcy and the owner’s guilty plea for fraud.

Shepherd Smith Edwards and Kantas FINRA Arbitration Attorneys are representing another international investor who suffered serious losses in Northstar Financial Services (Bermuda). The Claimant, who resides in Tokyo, Japan, is seeking up to $500,000 damages from Bankoh Investment Services and financial advisor Yoko Farias. This is not the first Northstar (Bermuda) loss claim against Bankoh or this particular broker that we have filed on behalf of a retail investor.

Versity Vintage DST Claimants File Six-Figure FINRA Arbitration Claim Against Emerson Equity

Published on: March 19, 2026 | by Shepherd Smith Edwards & Kantas, LLP

Retiree Couple Calling For Punitive Damages and Other Losses

A retired San Diego couple has filed a FINRA arbitration claim against Emerson Equity and its representatives for up to $500,000 following significant losses in Versity Investments/Vintage DSTs. The lawsuit alleges that the firm overconcentrated the seniors’ savings in risky, illiquid private placements while earning high commissions, despite claims of misappropriated funds and unsuitable investment recommendations.

A retired San Diego couple is suing Emerson Equity, firm control person Dominic Julio Baldini, and broker Christopher Thomas Miller for up to $500,000 after they suffered losses in Versity Investments/Crew Enterprises Delaware Statutory Trusts (DSTs). The Claimants entrusted the Respondents with their money and to give them prudent investment advice. Instead, their funds were overconcentrated in a risky, illiquid private placement from a no-name entity. Since then, Versity Investments (NKA Crew Enterprises) and its principals are accused of misappropriating over $56M, allegedly diverting the funds toward personal expenses and to pay for other real estate transactions.

Are You An Investor Who Suffered Costly Losses While Working With Former Stifel Broker Jonathan Webster?

Published on: February 10, 2026 | by Shepherd Smith Edwards & Kantas, LLP

The Shepherd Smith Edwards and Kantas FINRA Arbitration Law Firm Is Investigating Former Stifel Broker Jonathan Webster

If you sustained serious losses from costly brokerage trades made by ex-Stifel, Nicolaus, & Co. financial advisor Jonathan Mark Webster, contact Shepherd Smith Edwards and Kantas (investorlawyers.com). Webster, a longtime broker of nearly 39 years who was fired by the broker-dealer in 2024, was just suspended by the Financial Industry Regulatory Authority (FINRA) for seven months. He allegedly made trades for 19 clients, including at least 13 seniors, using commission-based brokerage accounts instead of advisory accounts that were fee-based and less costly.

The self-regulatory organization (SRO) contends that from November to December 2023, Webster made this unsuitable recommendation. He allegedly effected a short-term strategy that involved buying stocks in the commission-based accounts. This was a 10-stock approach based on the “January effect,” in which he would buy stocks in December and sell them in January so as to make money from the rise in price he predicted was going to happen. FINRA said that Webster bought the same exact 10 stocks for each of the customers in their brokerage accounts.

FINRA Arbitration Attorneys

Published on: January 26, 2026 | by Shepherd Smith Edwards & Kantas, LLP

For Easterly ROCMuni High Income Fund Investors, Filing A FINRA Lawsuit May Be Your Best Chance At Recouping Your Losses

Shepherd Smith Edwards and Kantas FINRA Arbitration Attorneys Are Representing Easterly ROCMuni Claimants Against Broker-Dealers

Over six months after a fire sale caused Easterly ROCMuni High Income Fund (RMJAX, RMHIX, and RMHVX) to plunge in value, Shepherd Smith Edwards and Kantas (investorlawyers.com) FINRA Arbitration Attorneys continue to investigate claims of losses against the broker-dealers that unsuitably marketed this high-risk junk bond fund to customers. Already, we have filed investment loss recovery claims in FINRA arbitration against Stifel, Nicolaus & Co, Osaic Wealth, and other firms.