Aura Financial Services, Inc.
U.S. Bancorp Ordered to Pay Customer $275,000
An NASD arbitration panel ordered Aura Financial Services, Inc. to pay an investor $275,000 to compensate her for damages that she suffered as a result of Aura’s and its broker’s improper conduct. The investor accused Aura Financial and its broker of, among other things, violations of Federal securities laws; violations of North Carolina Securities Act; violation of North Carolina Trade Practices Act; breach of contract; common law fraud; breach of fiduciary duty; and negligence and gross negligence including negligent supervision. The causes of action related to the purchase of Waterstones, Ltd. Equipment Leases.