Tag Archives: national securities corp

Albert Foronda- Spartan Capital Securities Broker- Discloses Customer Disputes- NYC

October 2019- NYC, NY

According to publicly available records Albert Foronda.   (CRD#5737620 ,  a  stockbroker  currently registered  with Spartan Capital Securities,  disclose a prior customer dispute and 2 pending customer dispute.

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 July 2017, a Worden Capital Management  customer, alleged unauthorized trades from 7/11/2017 until 7/27/2017.    The case was settled for $14,000.

In May 2019, a Spartan Capital Securities customer filed FINRA case #19-1160 alleging unsuitability, excessive trading and negligence and is seeking damages of $650,000.

In March 2018, a customer of Legend Securities and Worden Capital Management, filed FINRA case #18-01479 alleging breach of fiduciary duty, violations of NASD and FINRA Rules, breach of contract and negligence and is seeking damages of $90,000.

Albert Foronda.  has been  employed by Spartan Capital Securities since August of 2017.    He was with Worden Capital Management from November 2016-August 2017 Before that time he was employed with Legend Securities and National Securities Corp.   

If you have questions about an investment account handled by Albert Foronda. ,  contact us 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

Jason A. Wilk-Former Worden Capital Broker-Subject of Recently Filed Suit Alleging Churning-New York

September 2019, New York, NY

We recently filed a FINRA arbitration against Worden Capital Management on behalf of a resident of New Jersey.

Our client alleges that Worden Capital failed to supervise their registered representative Jason Andrew Wilk and allowed him to make unauthorized and unsuitable trades and churn the account to generate commissions. Damages of between $100,000-$500,000 are sought.

According to publicly available records Jason Wilk  ,  a  stockbroker  who is not currently registered  and who was last employed by Worden Capital Management ,  disclose 5 prior customer disputes and two currently pending judgement/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 addition to our recently filed case, Wilk ‘s  prior customer disputes include:

In 6/2016 a customer of Wilk’s prior employer Meyers Associates was paid $14,999 to settle FINRA case 16-01526 in which the customer alleged that WIlk made unauthorized and unsuitable trades.

In 9/2016 a customer of Wilk’s prior employer National Securities Corp. was paid $15,000 to resolve allegations that he recommended unsuitable investments.

In 9/2016 another customer of Wilk’s prior employer National Securities Corp. was paid $22,500 to resolve allegations that Wilk made unauthorized trades in the account.

Wilk discloses two currently outstanding judgment/liens in the Civil Court of the City of New York:

  • $4,840 in favor of Capital One Bank USA
  • $7,670 in favor of Absolute Resolutions Investments

Jason A. Wilk  was  employed by Worden Capital Management from 10/2017-4/2019 .  He was previously employed by Craft Capital Management from 5/2017-9/2017. Prior to that he was registered with Windsor Street Capital from 11/2016-1/2017. Windsor Street Capital was expelled from the industry by FINRA in 5/2018. Wilk was registered with National Securities Corp , Laidlaw & Company and Alexander Capital earlier in his career.

If you have losses in an investment account handled by Jason A. Wilk,  contact us 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

Robert Rotunno-Laidlaw/Tigress Financial Broker-Subject of Numerous Customer Suits Over Private Placements-New York

May 2019 – New York

According to publicly available records, former Laidlaw & Company financial advisor Robert N. Rotunno discloses 3 pending and 8 prior customer disputes most of which allege the sale of unsuitable private placement investments.

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.

The pending customer suits involving Rotunno include:

  • FINRA Case 19-614 in which a customer of National Securities Corp. seeks damages of $150,000 for unsuitable investments.
  • FINRA Case 18-3992 in which a customer of Laidlaw & Co. seeks damages of $558,624 for unsuitable investments and excessive  trading in private placements.
  • FINRA Case 18-2628 in which a customer of Laidlaw & Co. seeks damages of $228,128 for unsuitable recommendations and excessive trading  in private placements and equities.

In the prior 8 customer disputes nearly $700,000 was paid to Rotunno’s customers to resolve allegations of unauthorized trading, unauthorized use of margin, unsuitable recommendations and account churning.

Robert Rotunno  was with Laidlaw & Company from 8/2004-2/2016. He is currently registered with Tigress Financial Partners.

If you have losses on private placement investments or other unsuitable investments in an account handled by Robert Rotunno, call 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

Robert Abramowitz- National Securities Corp. Broker- Discloses Customer Disputes- Melville, NY

October 2018- Melville, NY

According to publicly available records  Robert Abramowitz (CRD#4457589), a stockbroker who is registered with National Securities Corp.  disclose a prior customer dispute and 2 pending customer disputes..

The Financial 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 December 2016 a customer with Raymond James Financial Services, Inc. filed case #16-03627 with FINRA alleging negligence, breach of fiduciary duty, breach of contract, material misrepresentations, omissions and failure to supervise.  The case was settled for $40,000.

In July 2018 a customer of Oppenheimer & Co. filed FINRA case #18-02666  alleging breach of contract, negligence, unsuitability, breach of fiduciary duty, respondeat superior, negligent supervision, over concentration from July 2011 until July 2016.    Alleged damages are $100,000.   This case is pending.

In March 2018 a customer with Raymond James Financial Services filed a customer dispute alleging “investments were misrepresented to her and were unsuitable based on her investment objectives.   She further states that her investment objectives and risk tolerance were incorrectly stated on new account paperwork from July 2011 until April of 2016.”   Alleged damages are $149,236.86.   This case was settled for $75,000.

Abramowitz is been employed by National Securities Corp. since September of 2017.   Prior to that he was with Oppenheimer & Co. from April 2016 until September 2017, and  with Raymond James from May of 2014 until April of 2016.   Before that time he was with Core Financial.   Abramowitz discloses a business affiliation with National Asset Management . 

If you have questions about an account handled by Robert Abramowitz, contact us for a no charge consultation 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 from 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 are handled on a contingent fee basis meaning that you do not play legal fees unless we are successful.  

Nationwide Representation

Rex Securities Law

Toll Free: 877-224-3199

Florida:  561-391-1900

Texas:  512-329-2870

 

Joseph M. Thurnherr-Former Windsor Street/Meyers Assoc. Broker-Discloses Numerous Customer Suits-New York

March 2018 – New York

The FINRA records of  Joseph M. Thurnherr,  a  stock broker who is currently employed by Spartan Capital Securities  disclose  two prior regulatory matters, three pending customer disputes , three prior final customer disputes and 2 outstanding 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 December 2017 Thurnherr was suspended by FINRA for failing to comply with an arbitration award or settlement agreement or to satisfactorily respond to a FINRA request to provide information concerning the status of compliance. That suspension was lifted in January 2018. FINRA Case 16-01460.

In October 2017 Florida securities regulators (Florida Office of Financial RegulationFOFR“) denied Joseph Morris Thurnherr’s application for registration as a broker for Spartan Capital Securities after he failed to request a hearing following the issuance of a Notice to Deny by FOFR, who alleged that Thurnherr made a material misrepresentation or misstatement on his application for registration.

In pending FINRA Case 17-0884 a customer of Meyers Associates (now known as Windsor Street Capital) is seeking damages of $383,000, alleging churning, improper use of margin borrowing, unsuitable investments and unauthorized trading.

In FINRA Case#16-01460, a customer of Thurnherr’s prior employer First Standard Financial Company alleges damages of $93,624 alleging that his account was unsuitably invested and over concentrated.

In FINRA Case#1-01143, a customer of Thurnherr’s prior employer Legend Securities alleges damages of $536,180 alleging churning, excessive trading, suitability, unauthorized trading, negligence, breach of fiduciary duty and misrepresentation.

Thurnherr has been registered with Spartan Capital Securities since 1/2017. He was with Windsor Street Capital (formerly Meyers Associates) from  11/2015-1/2017;   with First Standard Financial Company from 10/2014-10/2015; National Securities Corp from 11//2012-10/2014; and with Legend Securities from 1/2011-1/2012.

If you have questions about an account handled by Joseph M. Thurnherr, call for a no charge consultation to learn about your options.

Meyers Associates is now  Windsor Street Capital

In 2016 Meyers Associates changed its name to Windsor Street Capital. While called Meyers Associates the firm gained a reputation for hiring brokers whose FINRA BrokerCheck reports had an inordinate number of disclosures. The Investment News reported in 2014 that Meyers Associates “stands out as a haven for registered representatives with black marks on their employment histories”. 

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