Investors who had their account churned at Wells Fargo can sue the firm to recover the losses sustained or the commissions charged. With the stock market at record high, we have seen a surge in churning claims against brokers and brokerage firms. There are multiple different definitions of churning depending on what state an investor lives in. Some states define churning in the context of excessive trading (See Illinois Securities Law of 1953, Regulation 103.850). A common definition of churning, however, is when a broker or advisor overtrades the securities in a customer’s account for the purpose of generating commissions. Churning is a synonym for over-trading where the stockbroker advances his or her interests over the interests of the client Clients of Wells Fargo who had their account churned can recover those losses through the FIRNA arbitration claims process. We represent churning fraud victims on a contingency fee basis. To learn more, please check out the video below and call us for a free review by an attorney. https://www.youtube.com/watch?v=W5bJ5OJyY3k
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