Stifel’s total damages, legal fees, and settlements related to former broker Chuck Roberts now exceed $176 million. Roberts was barred from the securities industry this summer.
For the past two years, Roberts has been at the center of investor complaints against Stifel Nicolaus & Co., where he worked since 2016. Litigation against the firm continues to mount, with stifel settling an investor claim involving Roberts for $10.25 million in August.
“We have 19 more investor claims,and we continue to investigate and file new cases on behalf of customers,” said Jeff Erez,a plaintiff’s attorney. “And we are seeking additional finding regarding the circumstances of [Roberts’] termination.”
A spokesperson for Stifel Financial corp., the parent of Stifel Nicolaus, did not comment on Friday.
Roberts left Stifel in July and was barred from the securities industry days later after refusing to testify to FINRA. He consented to FINRA’s findings without admitting or denying them.
According to Roberts’ BrokerCheck profile, stifel settled the $10.25 million claim, filed by clients in 2023, on August 6.Like other claims involving Roberts, the dispute centered around structured notes. The clients originally asked…