SF 8-K
Stifel Financial Corp (SF)
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
FORM
CURRENT REPORT
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| Item 8.01 | Other Events. |
On March 13, 2025, Stifel Financial Corp. (the “Company”) issued a press release announcing that on March 12, 2025, a FINRA arbitration panel ordered the Company’s wholly owned operating subsidiary, Stifel, Nicolaus & Company, Incorporated, to pay approximately $132 million, inclusive of punitive damages and attorneys’ fees, in connection with allegations regarding investment recommendations. A copy of the press release is attached as Exhibit 99.1 to this Report on Form 8-K and is incorporated by reference.
The exhibit is being furnished pursuant to Item 2.02, and the information contained therein shall not be deemed “filed” for the purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of that Section, nor shall it be deemed incorporated by reference into any filing of the Company under the Securities Act of 1933, as amended, or the Exchange Act.
| Item 9.01 | Financial Statements and Exhibits. |
| (d) | Exhibits. |
| Exhibit |
Description | |
| 99.1 | Press release dated March 13, 2025. | |
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document). | |
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SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, hereunto duly authorized.
| STIFEL FINANCIAL CORP. | ||||||
| (Registrant) | ||||||
| Date: March 13, 2025 | By: | /s/ James M. Marischen | ||||
| Name: | James M. Marischen | |||||
| Title: | Chief Financial Officer | |||||
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Exhibit 99.1
FOR IMMEDIATE RELEASE
STIFEL RECEIVES ADVERSE FINRA ARBITRATION AWARD, PLANS TO
SEEK JUDICIAL REVIEW
ST. LOUIS, March 13, 2025 – Stifel Financial Corp. (NYSE: SF) notes that a FINRA arbitration panel yesterday ordered its subsidiary Stifel, Nicolaus & Company, Incorporated to pay approximately $132 million, inclusive of punitive damages and attorneys’ fees, in connection with allegations regarding investment recommendations.
Stifel plans to seek judicial review of this outsized award, which is supported by neither the facts nor the law. The claims were brought by a sophisticated family of experienced and aggressive investors who understood the risks involved, participated in the selection of investments, monitored them closely and only complained after incurring losses.
Stifel Company Information
Stifel Financial Corp. (NYSE: SF) is a financial services holding company headquartered in St. Louis, Missouri, that conducts its banking, securities, and financial services business through several wholly owned subsidiaries. Stifel’s broker-dealer clients are served in the United States through Stifel, Nicolaus & Company, Incorporated, including its Eaton Partners and Miller Buckfire business divisions; Keefe, Bruyette & Woods, Inc.; and Stifel Independent Advisors, LLC; in Canada through Stifel Nicolaus Canada Inc.; and in the United Kingdom and Europe through Stifel Nicolaus Europe Limited. The Company’s broker-dealer affiliates provide securities brokerage, investment banking, trading, investment advisory, and related financial services to individual investors, professional money managers, businesses, and municipalities. Stifel Bank and Stifel Bank & Trust offer a full range of consumer and commercial lending solutions. Stifel Trust Company, N.A. and Stifel Trust Company Delaware, N.A. offer trust and related services. To learn more about Stifel, please visit the Company’s website at www.stifel.com. For global disclosures, please visit https://www.stifel.com/investor-relations/press-releases.
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Media Contact:
Neil Shapiro, +1 (212) 271-3447
Investor Relations Contact:
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