April 2017- Sonoma, CA
According to publicly available records James B. Lunsford , (CRD# 2222307) , a former stockbroker who last worked for Mid Atlantic Capital Corp. discloses three pending customer disputes, one prior customer dispute and 4 outstanding 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 pending FINRA arbitration 17-0606 a customer of Mid Atlantic Capital Corp. alleges damages of $500,000 in connection with the purchase of a private placement in an IRA account which the customer alleges was speculative and unsuitable.
In pending FINRA arbitration 16-03515 a customer of Mid Atlantic Capital Corp. alleges damages of $200,000 in connection with the purchase of a private placement.
In pending FINRA arbitration 15-01319 a customer of Mid Atlantic Capital Corp. alleges damages of $450,000, failure to supervise and other claims in connection with the purchase of a limited partnership interest.
Mid Atlantic Capital Corp. has been a FINRA member since 1982 and is headquartered in Pittsburg, PA. They have about 210 associated persons and 70 branch offices. In FINRA Case 15-0333 they were ordered to pay nearly $1 million to customers in Denver for damages resulting from the purchase of illiquid real estate private placements. See this for details.
Lunsford was employed by Mid Atlantic Capital Corp. from 5/2004-12/2015.
If you have questions about an account handled by James B. Lunsford or have losses on alternative investments purchased from Mid Atlantic Capital Corp. , contact us to discuss your legal options.
Alternative investments include non publicly traded real estate investment trusts (REITS) , equipment leasing and oil and gas limited partnerships. These investments tend to be complex, illiquid, nontransparent, hard to value and expensive. Many of the alternative investments sold over recent years are not traded on any public market making them difficult to value and even more difficult to liquidate if cash is needed.
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.
Florida-561 391 1900