Category Archives: Buckman Buckman and Reid

Jason H. Klabal-Former Legend Securities Broker-Discloses Customer Disputes

January 2017- New York

According to publicly available records Jason H. Klabal , (CRD# 2910714) ,  a  stockbroker who is currently employed by Alexander Capital disclose 2 currently pending customer disputes.

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.

In FINRA Case 16-3549, a customer of Klabal’s former employer, Legend Securities,  alleges damages of $200,000 for churning, misrepresentation, breach of fiduciary duty, negligence and breach of contract.

In FINRA Case 16-3029, a customer of Klabal’s former employer, Legend Securities, alleges damages of $150,000 for fraud, churning, excessive margin, over concentration, breach of fiduciary duty, breach of contract and negligence.

Klabal has been employed by Alexander Capital since 6/2016.  He was previously employed by Legend Securities and before that, Buckman Buckman and Reid. 

If you have questions about an account in an account handled by Jason H. Klabal, contact us to discuss your legal options.

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

Rex Securities Law

TollFree: 877-224-3199

Florida-561 391 1900 

Texas-512-329-2870

William L. Baumner of Buckman, Buckman & Reid Discloses Customer Dispute/Outstanding Liens-Boca Raton, FL

Boca Raton, Florida

According to FINRA records,  William L. Baumner, IV ,   a stockbroker who currently works for Buckman, Buckman & Reid   discloses  a currently pending customer dispute. In addition he discloses 6 prior finalized customer disputes and 5 pending judgment/liens.

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.

A customer  while Baumner was employed at Invest Financial Corp. has filed a complaint in Palm Beach County Circuit Court alleging misrepresentation of material facts, insider trading and fraud. No specific amount of damages is alleged. Case # 502010CA017971.

Baumner discloses five outstanding liens in favor of the IRS ranging from $5,825 to over one million.

Baumner has been employed by Buckman, Buckman & Reid since 3/2010.

If you have questions about an account handled  William Baumner, call for a no charge consultation.

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

Rex Securities Law

TollFree: 877-224-3199

Florida-561 391 1900 

Texas-512-329-2870

Dwarka Persaud-Buckman Buckman & Reid Broker-Discloses Customer Disputes/ Bankruptcy Filing-Plainfield, NJ

UPDATE APRIL 2017

October 2016- Dwarka Persaud discloses that a customer of Buckman Buckman & Reid alleges damages of $40,000 related to investment strategy and fees in April 2016.

February 2017-Dwarka Persaud discloses filing of Chapter 7 bankruptcy in Newark, NJ Federal Court.

ORIGINAL POST–March 30, 2016

In FINRA Case 14-3762,  decided 2/5/2016 stock broker Dwarka Persaud was ordered to pay a former client $48,680, plus interest and attorney fees. The customer had alleged churning, unsuitability, breach of fiduciary duty and other claims related to the purchase and sale of securities.

FINRA records report that there are currently two customer disputes pending  against Persaud for account churning and unauthorized trading. Persaud was employed by Garden State Securities from 8/2008-4/2015. He is currently employed by Buckman, Buckman & Reid in Plainfield, New Jersey..

If you have questions about an account handled by Dwarka Persaud call to speak with an experienced securities attorney. You may be able to recover damages.

From the Financial Industry Regulatory Authority (FINRA) website:

“FINRA is dedicated to investor protection and market integrity through effective and efficient regulation of the securities industry.

FINRA is not part of the government. We’re an independent, not-for-profit organization authorized by Congress to protect America’s investors by making sure the securities industry operates fairly and honestly.

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

Rex Securities Law

TollFree: 877-224-3199

Florida-561 391 1900 

Texas-512-329-2870

Carlo W. Corzine Settles Customer Complaint- Tactical Air Defense Inc.

March 27, 2016

FINRA records report that Carlo W. Corzine, who is currently registered with Dawson James Securities in Boca Raton, FL, recently settled a customer dispute.

The complaint alleged that while he was employed by Buckman, Buckman and Reid, Corzine made misrepresentations regarding Tactical AIr Defenses, Inc. The case was settled in January 2016 for $30,000.

If you have questions about an account handled by Carlo W. Corzine, call to speak with an experienced securities attorney.

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

Rex Securities Law

TollFree: 877-224-3199

Florida-561 391 1900 

Texas-512-329-2870

Buckman Buckman & Reid Sanctioned by Regulators

November 12 , 2015

Buckman, Buckman & Reid  entered into a Letter of Acceptance Waiver and Consent (AWC) with the Financial Industry Regulatory Authority (FINRA) to resolve allegations that while accepting and holding six customer market orders and three customer limit orders, Respondent executed nine proprietary trades at prices that would have satisfied the customer orders and subsequently executed portions of the customer orders at inferior prices . The conduct described  constitutes separate and distinct violations of FINRA Rules 2010 and 5320.

FINRA found that during this period, the firm also failed to supervise its traders’ activity adequately in that it failed to review securities transactions in a manner designed to identify the trades that violated FINRA Rule 5320,. The conduct constitutes violations of NASD Rule 3010 and FINRA Rule 2010.

AWC No.  20130375913-01

Buckman Buckman & Reid  was censured and fined $27,500. In addition the firm was ordered to undertake revisions to the firm’s written supervisory procedures with respect to the matters raised in the AWC.

Buckman Buckman & Reid is headquartered in Shrewsbury, New Jersey , and  has been a FINRA member since 1989. It has more than 70 registered agents and branch offices located in Pittsburgh, PA, Boca Raton, FL and Scotch Plains, New Jersey.

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

Rex Securities Law

TollFree: 877-224-3199

Florida-561 391 1900 

Texas-512-329-2870

Buckman, Buckman & Reid Sanctioned by Securities Regulator

January 26, 2015-

Buckman, Buckman & Reid and John Buckman, its chairman and CEO ,  entered into a Letter of Acceptance, Waiver and Consent  (AWC) with the Financial Industry Regulatory Authority (FINRA) to resolve allegations that  between April 2010 and July the firm participated in the unlawful distribution of shares  of two issuers whose securities were not registered and were not subject to an applicable exemption.

FINRA also alleged various other compliance and supervisory failures in connection with the sale of unregistered shares of Tactical Air Defense Services, Inc.  ( TADF) and Fresh Harvest Products, Inc. (FRHV) .

Buckman, Buckman & Reid was censured and fined $200,000. John Buckman was suspended in a principal capacity for a month and fined $25,000.

FINRA Case # 2011029206503

Buckman, Buckman & Reid has been registered with FINRA since 1989. Its home office is in Shrewsbury, New Jersey, and it has a branch office in Boca Raton, FL.

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

Rex Securities Law

TollFree: 877-224-3199

Florida-561 391 1900 

Texas-512-329-2870

Carlo Corzine of Dawson James Securities Suspended by FINRA for 30 Days

UPDATE March 2016-Carlo Corzine discloses customer dispute related to sale of Tactical Air Defense, see this for more.

December 2013-Carlo Wayne Corzine  of Boca Raton, FL, was suspended by FINRA for 30 days in connection with the sale of more than 152 million unregistered shares of a thinly traded OTC security on behalf of his customers, including the president and CEO of the issuer and other accounts he controlled. The findings state that Corzine’s customers opened accounts at his member firm through which they deposited large amounts of the stock, then immediately wired the sale proceeds, which amounted to about $570,000 out of the accounts.

 FINRA findings state that Corzine failed to perform adequate due diligence prior to the execution of these sales and the red flags indicating suspicious activities and various securities law violations. Because the stock was unregistered, it could not be sold absent an applicable exemption from registration. No exemption was available under the circumstances.
According to FINRA records, Corzine is currently registered with Dawson James Securities, Inc. His previous registrations include Hamershlag Sulzberger Borg Capital Markets, Inc. and Buckman, Buckman & Reid, Inc.

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

Rex Securities Law

TollFree: 877-224-3199

Florida-561 391 1900 

Texas-512-329-2870