July 2016-New York
The FINRA records of Michael S. Lavolpe , a currently unlicensed stockbroker who was most recently employed by Meyers Associates , disclose a pending regulatory event, 4 pending customer disputes, 2 prior customer disputes and an outstanding judgement/lien.
The Financial Industry Regulatory Authority (FINRA) is the agency that licenses and regulates stockbrokers and brokerage firms. FINRA requires brokers and brokerage firms to report customer complaints and disputes as well as regulatory sanctions. In addition brokers are required to disclose certain financial matters such as personal bankruptcies, judgments and liens.
According to FINRA Disciplinary Proceeding 2015047559201, in October 2015, Lavolpe’s employer Meyers Associates reported to FINRA that a customer had filed an arbitration claiming that Lavolpe had engaged in unsuitable activity in the account. Lavolpe failed to respond to FINRA’s requests for information leading to the filing of the FINRA proceeding.
FINRA Case 15-01019 brought by a customer of Meyers Associates alleging unsuitability was settled for $60,000. FINRA Case 10-3764 brought by a Meyers Associates customer alleged churning, failure to supervise, negligence and breach of fiduciary duty. That case was settled for $60,000.
The four currently pending cases include:
- FINRA Case 16-0402 in which a Meyers Associates customer alleges damages of $308,703 for unsuitable investments in penny stocks.
- FINRA Case 16-0454 in which a customer alleges damages of $545,000 for unsuitable investments in private placements.
Lavolpe discloses an outstanding tax lien in favor of the IRS in the amount of $4,277.35.
Michael S. Lavolpe was employed by Meyers Associates from 3/2006-7/2014. He is not currently licensed.
Investors who have questions about how their account has been handled by Michael S. Lavolpe should call to learn how you may be entitled to collect damages through FINRA arbitration.
Rex Securities Law , with offices in Boca Raton, FL, and Austin, TX, provides representation to investors nationwide who are seeking recovery of investment losses due to the negligence or fraud of stockbrokers and broker dealers. If you have questions about how your account has been handled, call to speak with an experienced securities attorney.
Most cases handled on a contingent fee basis meaning that you do not pay legal fees unless we are successful.
Nationwide Representation
TollFree: 877-224-3199
Florida-561 391 1900
Texas-512-329-2870
