Tag Archives: private placements

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

Neeraj Chaudhary- Former Euro Pacific Capital Broker Investigated

March 10, 2016

Rex Securities Law is investigating former Euro Pacific Capital, Inc. broker Neeraj R. Chaudhary on behalf of a former customer who alleges that he was sold investments, including private placements,  that were not suitable given the customer’s age, investment objectives and risk tolerance level.

The subject investments include:

  • Minerva-Rockdale E&P III
  • Minerva-Rockdale E&P IV

FINRA records report that Chaudhary was employed by Euro Pacific Capital from 6/2008-11/2014. Chaudhary is not currently registered.

According to the official FINRA records there is currently one customer dispute pending against Chaudhary. The claim alleges unsuitability relating to investments in private placements and does not specify the damages sought. FINRA records report 4 outstanding Internal Revenue Service tax liens in the amounts of $40,686,  $10,708, $79.181 and $1,100,000.

We are interested in hearing from individuals who may have information helpful to this investigation. If you have losses in an account handled by Neeraj Chaudhary, you may be able to recover damages from his former employer.

EURO PACIFIC CAPITAL SANCTIONED FOR FAILING TO REPORT CUSTOMER COMPLAINTS

Euro Pacific Capital has been a FINRA member since 1980  and is headquartered in Westport, CT. They have 8 branch  offices, including New York City, Boca Raton, FL, Scottsdale, AZ, Newport Beach, CA, El Segundo, CA, Santa Monica, CA,  and Los Angeles, CA,  employing about 82 registered representatives.

According to FINRA records,  Euro Pacific Capital has been named in 11 regulatory matters. In 2011, Euro Pacific Capital was censured and fined $150,000 for several deficiencies, including failing to timely report information related to 180 customer complaints. In 2014, Euro Pacific Capital was censured and fined $40,000 for failing to timely report information related to 94 customer complaints and for failing to have adequate procedures to report customer complaints.

Their president Peter Schiff has written a number of books, including:

  • The Real Crash
  • How an Economy Grows and Why it Crashes
  • Crash Proof: How to Profit from the Coming Economic Collapse
  • The Little Book of Bull Moves

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

SEC Issues Investor Bulletin on Private Placement Investments

September 24, 2014

THe U.S. Securities Exchange Commission (SEC) Office of Investor Education and Advocacy has issued an Investor Bulletin to help educate investors considering investing in private placements, which are securities that are not registered and also known as
“Reg. D Offerings”.

These investments, which typically pay high commissions to the brokerage firm,  (oil and gas partnerships are often sold in private placement offerings), are often touted as an exclusive opportunity and the security being offered may be stock, a limited partnership, an interest in a limited liability company, a note or a bond. The SEC warns:

“Keep in mind that private placements can be very risky and any investment may be difficulty, if not virtually impossible to sell.”

Most private placements may only be sold to Accredited Investors,  which is defined as a individual who:

  • has earned income that exceeded $200,000 ($300,000 if combined with spouse) in each of the last two years, and reasonably expects the same for the current year, OR
  • has a net worth of over $1 million, either alone or together with spouse. This net worth calculation excludes the value of the primary residence and any loans secured by the residence.

The Investor Alert contains much more detail about risk factors investors should take into account if considering a private placement investment.

Rex Securities Law provides nationwide representation to investors 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.

Rex Securities Law

561 391 1900

Beta Capital Management Fined/Censured by FINRA

Beta Capital Management, headquartered in Miami, FL, was censured and fined $12,500 by the Financial Industry Regulatory Authority (FINRA) to resolve allegations that it failed to establish either a separate bank account as agent or trustee for firm investors or a bank escrow account, and failed to implement written supervisory procedures in accordance with SEC Rule 15c2-4 while participating as non-exclusive placement agents for two private placement offerings.

Rex Securities Law provides nationwide representation to investors 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.

Rex Securities Law

561 391 1900