Category Archives: Newbridge Securities Corp.

Investigation of Former National Securities Corp Broker Marshall Isaacson-Boca Raton, FL

April 2017- Boca Raton, FL

The FINRA records of  Marshall O. Isaacson ,  a  stockbroker who formerly was employed by  National Securities Corp.  disclose 2 pending  customer disputes, a prior financial event and 2 currently 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.

In currently pending FINRA Case 16-0627 a customer of National Securities Corp. alleges damages of $300,000 for unsuitable investments and unauthorized trading.

Isaacson discloses discharge from Chapter 7 bankruptcy in 8/2010, US Bankruptcy Court Southern District of Florida.

Isaacson discloses two currently outstanding IRS liens, one in the amount of $24,372 and another for $41,279, County Courthouse Palm Beach County, FL.

Isaacson was employed by National Securities Corp. from 8/2007-7/2016. He is currently employed by Newbridge Securities Corp. 

We are investigating Marshall Isaacson on behalf of an elderly retirees who alleges that their accounts were over-traded and that they were put into high risk, unsuitable, investments.

If you have losses in an account in an account handled by Marshall Isaacson  , contact us to discuss how you may be able to recover damages for those losses.

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

David H. Fagenson-Former UBS Broker-Discloses Termination and Customer Dispute-Palm Beach, FL

February 2017-Palm Beach, FL

According to publicly available records David H. Fagenson , (CRD# 1652012) ,  a  stockbroker who is currently registered with Newbridge Securities disclose a pending customer dispute and a termination from employment. 

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 September 2016 Fagenson was discharged by UBS Financial who made the following allegation : “The financial advisor was discharged after a review found that while on heightened supervision, he violated firm policy by exercising time and price discretion, texting with clients and engaging in short term trading of preferred shares.”

In September 2016 a customer of UBS Financial Services alleged damages in excess of $5,000 claiming that unauthorized trades were made in his account and that he gave instructions to place stop-loss orders on several investments that were not entered.  That matter is currently pending.

Fagenson’s records reveal eight prior customer disputes that were settled.

In 2011 the Florida Office of Financial Regulation initiated an action alleging that Fagenson made a material misstatement on his application for registration. Without admitting or denying the findings that he omitted a part of a law enforcement record that was required to be disclosed on his application for registration.

Fagenson has been employed by Newbridge Securities since 12/2016. He was employed at UBS Financial from 9/2010-10/2016.

If you have questions about an account in an account handled by David H. Fagenson, 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

Michael Guilfoyle-Former Legend Securities Broker-Discloses Settlement of Churning Complaint

New York

Publicly available records of Michael N. Guilfoyle, (CRD# 5119593) ,  a  stockbroker who is currently employed by Four Points Capital Partners disclose that in 2014 a customer of his prior employer Legend Securities filed FINRA arbitration #14-3134 alleging damages of $298,687 for churning, excessive trading, recommending unsuitable investments and engaging in unauthorized trading. That case was settled for $99,999.

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.

Guilfoyle  has been employed by Four Points Capital Partners since 9/2016. His prior employment includes IFS Securities, Legend Securities, Joseph Gunnar, America’s Choice Equities, J.P. Turner and Newbridge Securities. 

If you have questions about an account in an account handled by Michael Guilfoyle, 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

Gerald Cocuzzo -Former Newbridge Securities Broker-Pleads Guilty to Fraud

November 2016- Boca Raton, FL

The US Attorney’s Office announced that former Newbridge Securities stock broker Gerald Cocuzzo, pleaded guilty to securities fraud in connection with the fraudulent marketing of ForceField Energy, a publicly traded company with the symbol FNRG.

According to the release between 2009-2015, Cocuzzo and others manipulated the price of ForceField a purported worldwide distributor of LED lighting products causing losses of $131,000,000.

Cocuzzo faces up to 20 years in prison.

See this for more information on Gerald Cocuzzo. 

Cocuzzo was employed by Newbridge Securities from 12/2014-5/2016 and prior to that was employed by IAA Financial from 9/2009/1/2015.

If you suffered losses due to recommendations by Gerald Cocuzzo to purchase risky investments, including Forcefield Energy (FNRG), contact us to learn how you may be able to collect damages from the brokerage firm that employed Cocuzzo.

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

Joseph Stone Capital Brokers Named in Regulatory Complaint Alleging Churning

August 2016- Mineola, NY

The FINRA records of  Lawrence P. Sullivan,  a  stock broker who is not currently licensed and who was last employed by Joseph Stone Capital  disclose  a currently pending regulatory event and a termination from employment.

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.

Office of the Commissioner of Securities and Insurance, Montana State Auditor Case No. SEC-2016-124

On June 8, 2016, the Montana Commissioner of Securities and Insurance (CSI) filed a complaint (CSI Case Number SEC-2016-124) naming Lawrence Sullivan, who at the time was a salesperson with Joseph Stone Capital  and other parties, including:

  • Joseph Stone Capital, Lawrence’s  former employing firm
  • James Pardy-Chief Compliance Officer of Joseph Stone
  • Adam Maggio-a salesperson with Joseph Stone
  • David Menashea salesperson with Joseph Stone
  • Frank Spadaro-a salesperson with Joseph Stone

The Montana CSI complaint alleges that in January 2016, the Montana CSI received a cold call from Sullivan who was transferred to an analyst for CSI. Sullivan pitched an investment about Paypal to the Montana CSI employee who then informed Sullivan that he had called the Montana State securities regulators. At that point, Sullivan denied he was trying to solicit an investment and hung up.

That same day Montana CSI requested complete records regarding all of Joseph Stone’s Montana clients. Analysis of the records revealed churning in the accounts of Montana residents , overcharging of commissions and other statutory violations.

According to the Montana CSI complaint with regard to one of the accounts handled by Frank Spadaro : “The total of all trades resulted in $4,052,938.36 in purchases and $3,747,491.70 sales, with corresponding Looper[l] tumover rates of 30.52 and,28.22 respectively “

Churning & The Looper Formula

The Looper turnover rate calculates the dollar amount of purchases during a time period divided by the average account equity annualized. The 2-4-6 ‘rule of thumb’ turnover rate is often used to generally analyze trading:

  • Twice a year is ‘suggestive’ of excessive trading
  • Four times a year is ‘indicative’ of excessive trading
  • Six times a year turnover is ‘conclusive’ of excessive trading

According to public records:

  • On January 19, 2016, Lawrence Sullivan was discharged by Joseph Stone Capital
  • David Manashe is now registered with Newbridge Securities Corporation

If you have questions about an account handled by Joseph Stone Capital  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