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Rex Securities Law Investigates Former VSR Financial Broker Michael D. Shaw

Rex Securities Law Investigates Former VSR Financial Broker Michael D. Shaw 150 150 Rex Securities Law

Michael D. Shaw was a broker for VSR Financial in Baton Rouge, LA,  from 7/2003-10/2011. In October 2011, he was discharged by VSR Financial who made the following allegations on Shaw’s FINRA records:

“Alleged misrepresentations and unsuitability in connection with the sale of private placements, and alleged false entries made on customer account statements. ”

That same month, October 2011, FINRA permanently barred Shaw from the securities industry finding that he willfully violated section 10(B) and SEC Rule 10B-5 of the Securities Exchange Act of 1934 in connection with the sale of private placements and alleged false entries on customer account documents.

Shaw’s CRD, the official FINRA record disclosing customer complaints and employment history, Michael Shaw FINRA CRD indicates that he has been the subject of 24 customer disputes. Most complaints relate to private placement investments or other alternative investments. There are multiple accusations of falsifying documents and inflating customer net worth. Settlements with customers have ranged from $50,000 to over $400,000

In 2013 VSR Financial was sanctioned $550,000 in connection with the sale of alternative investments.

If you had an account with Shaw and suffered losses, contact us to learn how you may be able to recover damages.

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

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