October 2016
Next Financial Group, Inc. , a stock brokerage firm headquartered in Houston, Texas, recently settled a claim brought by a customer alleging damages of $4,000,000 for breach of fiduciary duty, common law fraud and negligent supervision in relation to recommendations that an investor purchase tenant in common (TIC) private placement investments. Tokena Corporation v NEXT Financial Group, FINRA Case 15-0762.
In May 2016 that matter was settled for an undisclosed amount. Following the settlement, Charles Kulch a stock broker who has been registered with NEXT Financial since 10/2006, requested that the FINRA arbitration panel expunge his FINRA record of any reference to the customer dispute. The arbitration panel denied Kulch’s request for expungement.
According to his FINRA record, Charles Kulch of Nashua, New Hampshire, discloses 5 prior customer disputes and 4 prior regulatory events. His prior customer disputes include a matter recently settled in May 2016 for $120,000. In that case a customer of Kulch’s prior employer Investors Capital Corp. alleged damages for poor performance in a real estate security.
If you have questions about losses in an account handled by Charles Kulch, call to discuss your 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.
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