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Defamed Stockbroker Recovers $1.15 Million against Former Brokerage Firm

A National Association of Securities Dealers Dispute Resolution (NASDDR) arbitration panel has awarded a former Wells Fargo Securities Inc. financial consultant damages resulting from her termination and defamation on her Form U-5 (CRD employment record).

The panel also ordered that the firm amend the U-5 to reflect that the broker "was arrested and indicted because of an error committed by Wells Fargo Bank and through no fault of" the broker.

Source: Wall Street Journal, November 19, 2002

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