Category Archives: Concord Equity Group

Raymond J. Pirrello-Former Garden State Securities Broker-Named in SEC Insider Trading Complaint

UPDATE August 2016-FINRA suspended Raymond Pirrello for failing to respond to FINRA request for information. According to FINRA’s statement, if Pirrello fails to request termination of the suspension within 3 months of the date of the notice of suspension he will be automatically barred on October 14, 2016, from association with any FINRA member in any capacity.

FINRA records report that on July 7, 2016, the U S Securities and Exchange Commission filed an insider trading injunction against former  Garden State Securities  stock broker Raymond J. Pirrello, Jr., age 40 of Sparta, New Jersey.

Thomas W. Avent, Jr. , 63,  of Atlanta, who is a tax partner with KPMG LLP, one of the world’s largest accounting firms, and Lawrence J. Penna, age 72, of Edgewater, New Jersey, a long time friend of Pirrello, are also named in the complaint  filed in the U.S. District Court for the Northern District of Georgia. SEC v. Pirello, et al, Case 1:16-cv-02459-SCJ.

The complaint alleges that in 2011 and 2012 Avent, who was working as an acquisition attorney, obtained highly confidential nonpublic information about impending acquisitions of Radiant Systems, Inc., Brightpoint  and Midas Inc. and illegally tipped off PIrrello who passed on the illegal tip to his long time friend Penna.

The complaint further alleges that Penna traded the in the securities of each of the three companies and realized trading profits. Penna then made payments to Pirrello and Avent.

The SEC seeks an injunction prohibiting the defendants from further violations of the securities law and a disgorgement of the trading profits as well as civil penalties.

Pirrello was employed by Garden State Securities in Hackensack, New Jersey, from 8/2008- 5/2016. He was previously employed by The Concord Equity Group and J.P. Turner & Co.

We are currently evaluating potential cases for investors who suffered losses in accounts handled by Raymond J. Pirrello.

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

Raymond Pirrello of Garden State Securities Investigated by Securities Regulator

UPDATE July 2016Pirrello named in insider trading complaint filed by the Securities and Exchange commission. See this for details. 

UPDATE June 2016-Former Garden State Securities stock broker Raymond J. Pirrello is not currently registered with any FINRA firm according to FINRA records as on June 27th, 2016.

Original Post —  March 10, 2016

FINRA records report that the U S Securities and Exchange Commission is currently investigating Garden State Securities  stock broker Raymond J. Pirrello, Jr. regarding alleged potential violations of sections 10(b) and 14(e) of the Securities Exchange Act of 1934 and Rules 10b-5 and 14e-3 there under.

FINRA records also report that Pirrello has been named in 9 customer disputes that have been resolved.

Pirrello has been employed by Garden State Securities in Hackensack, New Jersey, since 8/2008. He was previously employed by Concord Equity Group and J.P. Turner & Co.

If you have questions about an account handled by Raymond J. Pirrello, 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