The suit charges that the CFP Board did not take any evidence or talk to any clients before issuing its ruling. The CFP Board has said it will issue a letter of admonition against the Camardas that will be posted on its Web site and used as the basis of a press release to the media.
The letter would cause substantial and irreparable damage to the reputation and revenue of the Camardas and the companies, the lawsuit says. The suit asks that the CFP Board be permanently barred from carrying out the disciplinary action.