Securities Award Monthly Vol. 2010 No. 11

LaBay v. Ligor (FINRA ID # 09-06801 issued 10/28/2010) Elliott Epstein, Esq. of Pickus & Epstein, LLC. Attorney for the Claimants Award of $1,000,000.00 The Labays, a retiree and his daughter, lost over $2 million in two discretionay trading accounts being handled by the Respondent, Paul A. Ligor, Jr., during the period of May 2007 through February that the customers’ portfolio should be diversified and margin loans paid off. The stock market crash in late 2008 resulted in the loss of a substantial portion of the portfolio, due to a sharp drop in equity values and foreced margin-loan liquidations.