Category Archives: Legend Securities

Christopher Orlando- Worden Capital Management Broker- Discloses Pending Customer Dispute-New York, NY

July 2019- New York, NY

The FINRA records of  Christopher G. Orlando ,  a  financial advisor employed by  Worden Capital Management disclose a pending customer dispute and an outstanding tax lien.

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 February of 2019, FINRA case #19-00369 was filed by a customer of Worden Capital Management alleging excessive trading, churning and unsuitable transactions.    Alleged damages are $70,766 and the case is pending.

Orlando  discloses a New York State tax lien in the amount of $17,156, filed in Richmond, NY.

Christopher Orlando has been registered with Worden Capital Management since November of 2016 . His prior employment in the financial industry includes Legend Securities, Inc. , National Securities Corporation and Joseph Gunnar & Co. 

If you have losses in an account  handled by Christopher Orlando , contact us for a no charge consultation to learn how you may be able to recover damages through FINRA arbitration.

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 Stanton-Worden Capital Management Broker- Discloses $15M Pending Customer Dispute- NYC

July 2019-New York, NY

The FINRA records of  Michael Salvatore Stanton,  a  financial advisor employed by  Worden Capital Management disclose 2 regulatory events,  3 prior customer disputes, 1 pending customer dispute, a pending bankruptcy and  7 outstanding judgments.

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 # 2015048048801 filed in 11/2016 -FINRA alleged that Stanton and his firm < legend Securities, failed to establish, maintain and enforce a reasonable supervisory system, and failed to prevent a registered representative from churning and excessively trading a customer’s brokerage accounts.   The complaint alleges that Stanton and the firm failed to adequately investigate or simply ignored that the registered representative engaged in aggressive “in and out” trading, repeatedly purchasing securities and then selling them after relatively short holding periods to purchase other securities, for no apparent reason.   Such in and out trading is the hallmark of excessive trading and churning.  Stanton was suspended from FINRA for a period of seven months and was fined $5000.

In March 2017,   a Legend Securities,Inc. customer filed FINRA case #16-03695  alleging failure to supervise representative’s excessive trading and unsuitable recommendations.    The case was settled for $20,000.

In October 2005, a Summit Brokerage Services, Inc. customer alleged inappropriate conduct and coercion concerning payments for margin calls.    The case settled for $15,000.

Pending  FINRA case #18-04040 alleges that while Stanton was employed by Legend Securities he failed to supervise a broker and alleges common law fraud, breach of fiduciary duty, negligence and breach of contract.    The damages  sought are $15,000,000 .

Stanton discloses the filing of a Chapter 13 bankruptcy petition in June 2018, which is currently pending.

Stanton  discloses outstanding 7 currently outstanding lines/judgments, 5 of which are Federal & State Tax Liens.

Michael Stanton has been registered with Worden Capital Management  since December of 2016.  . His prior employment in the financial industry includes Legend Securities, Inc., Obsidian Financial Group and National Securities Corporation.

If you have losses in an account  handled by Michael Salvatore Stanton , contact us for a no charge consultation to learn how you may be able to recover damages through FINRA arbitration.

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

Stephen Sullivan-Former Newbridge Securities Broker-Subject of $500K Customer Suit-Melville, NY

August 2018-Melville, New York

According to FINRA records,  Stephen J. Sullivan  a stockbroker who currently works for SW Financial (formerly Salomon Whitney Financial) ,   discloses  a prior regulatory event, a pending customer dispute, a prior customer dispute and 3 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 February 2016, without admitting or denying the findings, Sullivan consented to sanctions and entry of findings that while employed by First Midwest Securities, he exercised discretion in the accounts of two customers without obtaining their prior written approval. He was suspended for 10 business days and fined $5,000.

In currently pending FINRA Case 18-01444 a customer of one of his prior employers, Newbridge Securities, alleges that Sullivan made unsuitable recommendations and traded the account excessively. The customer is seeking damages of $540,618.

According to his FINRA record, sInce obtaining his Series 7 broker’s license in 1998, Sullivan has been employed by  14 different brokerage firms. His current employment with  SW Financial began in 5/2018.

Sullivan’s recent prior employment includes Worden Capital Management, Newbridge Securities and Legend Securities. 

If you have losses in an account handled  Stephen Sullivan, call for a no charge consultation to learn about 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

Brian Decker-Former Worden Capital Mgmt Broker-Arrested for Securities Fraud-Staten Island

September 2018-Staten Island

The Toledo Blade reports that Brian K. Decker was indicted in August 2018 by a Wood County Ohio grand jury on charges of theft from a person in a protected class, telecommunications fraud and two counts of unlawful securities practices. According to a recent report , in September Decker was arrested at JFK Airport in New York and is awaiting extradition to Ohio.

The indictment  alleges that Decker received abot $376,000 from a client which was supposedly to be invested in construction projects with promises of returns between 12-20%. Those funds were misappropriated according to investigators.

FINRA records disclose that Brian K. Decker, a currently unregistered broker who last worked for Worden Capital Management and Legend Securities, is named in a currently pending customer dispute, has 10 prior customer disputes , a recent regulatory action barring him from the securities industry and 5 outstanding judgment/liens.

In currently pending FINRA Case 15-802, filed by a Florida resident,  a customer of Legend Securities alleges that Decker was not licensed to sell securities in Florida, made false statements of material fact, engaged in unauthorized transactions, failed to follow instructions, engaged in churning and stock manipulation and improperly used margin borrowing in the account. The customer is seeking damages of $150,000.

Brian Decker has been named in ten  other prior customer disputes, including:

  • A July 2015 settlement of $35,000 to a customer of Legend Securities alleging failure to supervise and unsuitable investments.
  • FINRA Case 14-2734, by a customer of Legend Securities  alleging violation of Colorado securities and consumer protection laws, negligence and common law fraud, settled for $14,999.
  • FINRA Case 12-1281, a customer of Legend Securities alleged breach of fiduciary duty, negligent supervision, and fraud settled for $75,000.

Decker was with Worden Capital Management from 4/2017-4/2018 and with Legend Securities 9/2009-11/2016.

In May 2018 Decker was permanently barred from the securities industry by FINRA to resolve allegations that he failed to cooperate with FINRA during an investigation into allegations of conversion. Decker failed to produce requested bank records and failed to appear to provide testimony. FINRA Case 2017055226501.  

If you have losses in an account handled by former  broker Brian Decker , call for a no charge consultation 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