KlaymanToskes Wins $6 Million In FINRA Arbitration Awards

National Securities Law Firm Secures Multi-Million-Dollar Awards for Investors in Private Placement Cases

Published on Feb. 12, 2026

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National investment loss and securities law firm KlaymanToskes announces that the law firm has won over $6,000,000 in combined FINRA arbitration awards across three separate cases on behalf of investors. The law firm urges investors who suffered losses in illiquid private placements, alternative investments, or investments sold by their broker without the approval of the brokerage firm ('selling away'), to contact KlaymanToskes immediately to discuss potential recovery options.

Why it matters

These awards reflect FINRA panels holding financial professionals accountable for wrongful conduct that has resulted in significant investor losses. Many investors are unaware they may have recovery options when they have suffered damages from illiquid private placement investments or investments sold by brokers without firm approval.

The details

According to the arbitration awards won by KlaymanToskes, the FINRA panels ordered the parties found liable to pay over $6 million in combined compensatory damages, attorneys' fees, and sanctions to investors. In one case, the panel also awarded punitive damages in the amount of $1,323,078, in addition to $1,323,078 in compensatory damages, in accordance with state statutes governing civil theft, civil tort liability, and deceptive and unfair trade practices.

  • The FINRA arbitration awards were announced on February 12, 2026.

The players

KlaymanToskes

A national investment loss and securities law firm that practices exclusively in the field of securities arbitration and litigation on behalf of retail and institutional investors.

Steven D. Toskes

The co-founding partner of KlaymanToskes.

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What they’re saying

“These awards reflect FINRA panels holding financial professionals accountable for their wrongful conduct.”

— Steven D. Toskes, Co-founding partner, KlaymanToskes (EINPresswire.com)

What’s next

Investors who suffered losses in illiquid private placement investments, including investments sold to them by their brokers that were not approved by the brokerage firm, may be entitled to financial recovery through FINRA arbitration. KlaymanToskes encourages investors to contact the firm to discuss potential recovery options.

The takeaway

These FINRA arbitration awards demonstrate that financial professionals can be held accountable for misconduct that results in significant investor losses, particularly in cases involving illiquid private placements and investments sold without firm approval. This highlights the importance for investors to be aware of their potential recovery options when they have suffered such losses.