Articles Tagged with Kovack Securities

AdobeStock_200379710-300x200Stoltmann Law Offices is investigating Kovack Securities. A customer claimed that Kovack allegedly broke securities laws by failing to perform necessary due diligence on these investments:

Marathon Patent Group Inc.

TrovaGene, Inc.

AdobeStock_35532974-1-300x200Stoltmann Law Offices is investigating Gerald O’Halloran, a registered broker formerly associated with Kovack Securities. He allegedly engaged in unauthorized trades, misrepresentation, breach of fiduciary duty, and breach of contract, among other claims. All of these are against securities rules and regulations. A broker must take into account a client’s age, net worth, investment objectives and investment sophistication before recommending or selling a security. If he does not, his brokerage firm can be held liable for losses on a contingency fee basis. We are securities attorneys who sue firms such as Kovack Securities in the Financial Industry Regulatory Authority (FINRA) arbitration forum on a contingency fee basis. Please call 312-332-4200 for a no-cost, no obligation consultation to find out how. O’Halloran was registered with Financial Investment Analysts Inc. from August 2002 until may 2004 and with Kovack Securities in Punta Gorda, Florida since 2004.

AdobeStock_9577728-1-300x200Stoltmann Law Offices is investigating Dennis Coral, a broker with International Assets Advisory in Orlando, Florida. Coral was accused of sustaining losses in a member firm’s client account by depositing personal funds of his own. Coral allegedly deposited the funds in the client’s account without the firm’s prior knowledge or approval in order to reimburse the client because of losses sustained in Puerto Rican bond holdings, which Coral had recommended. He was suspended for 15 days by the Financial Industry Regulatory Authority (FINRA).

Coral was registered with Ladenburg Capital Management, Morgan Stanley, SunTrust Investment Services and Kovack Securities. He is currently registered with International Assets Advisors in Orlando, Florida and has been since March 2017. If you suffered losses because of Dennis Coral, you may be able to reclaim them in the FINRA arbitration forum on a contingency fee basis. Please call 312-332-4200 to find out how. The call is free with no obligation.

AdobeStock_1800313-1-300x204Stoltmann Law Offices is investigating Carlos Seda, a broker with Kovack Securities in Guaynabo, Puerto Rico. Seda has been accused of recommending high risk and unsuitable investments in Puerto Rico closed-end funds, among other things. Seda was registered with Santander Securities in Guaynabo, Puerto Rico from September 2002 until January 2007, OFS Securities in Hato Rey, Puerto Rico from January 2007 until August 2013 and Oriental Financial Services in San Juan, Puerto Rico from August 2013 until September 2014. He is currently registered with Kovack Securities in Guaynabo, Puerto Rico and has been since September 2014. He has four customer disputes against him, three of which are currently pending. Please call Stoltmann Law Offices today if you lost money with Seda. His firm, Kovack Securities, can be held liable for investment losses. 312-332-4200. We try cases on a contingency fee basis only.

AdobeStock_123495998-1-300x197Stoltmann Law Offices is interested in speaking to those investors who may have invested with Douglas Studer, formerly of Kovack Securities. Studer was recently barred from the industry by the Financial Industry Regulatory Authority (FINRA). Studer was accused of unauthorized trading and refused to appear for a testimony regarding an investigation into whether he violated firm policy by being named in an elderly customer’s estate document to inherit the customer’s waterfront condominium. If you invested with Douglas Studer, you may be able to recover your losses by bringing an arbitration claim against Kovack Securities in the FINRA arbitration forum. The firm had a duty to reasonably supervise him and it did not. We take cases on a contingency fee basis. The call to us is free with no obligation so please call today. 312-332-4200.

Studer was registered previously with Prime Capital Services in Port Richey, Florida from August 2001 until August 2006, H&R Block Financial Advisors in New Port Richey, Florida from July 2006 until September 2007, VSR Financial Services in Apollo Beach, Florida from September 2007 until March 2009, Prime Capital Services in Tampa, Florida from March 2009 until November 2013, National Securities Corp in Aventura, Florida from November 2013 until November 2015 and Kovack Securities in Fort Lauderdale, Florida from October 2015 until July 2016. He has two customer disputes against him. He was permanently barred from the industry.

Did you lose money with Nick Morgan, formerly of First Heartland Capital? Stoltmann Law Offices is investigating Mr. Morgan for securities violations. Allegedly, he had customers sign blank forms on at least 26 occasions and kept them in files, which is in violation of securities laws. For this, he was fined $5,000 and suspended from the industry for five months by the Financial Industry Regulatory Authority (FINRA). Brokerage firms have the responsibility to adequately supervise all representatives who are registered through their firm. They also must take steps to ensure that their financial advisors follow all securities rules and regulations, as well as firm policies. If the firm does not, it can be liable for investment losses. Please call us today to speak to an attorney if you lost money with Nick Morgan. We may be able to help you recover your losses by bringing legal action against First Heartland Capital on a contingency fee basis.

Nick Morgan was registered with Signator Investors in Ridgeland, Mississippi from April 2000 until February 2015 and Kovack Securities in Ridgeland from February 2015 until June 2015. He is currently registered with First Heartland Capital in Jackson, Mississippi and has been since September 2015. He has one customer dispute against him.

The Financial Industry Regulatory Authority (FINRA) recently barred Douglas W. Studer, a former broker with Kovack Securities in Fort Lauderdale, Florida. According to FINRA, Mr. Studer failed to appear for his on-the-record testimony. He was being investigated as to whether he violated his former member firm’s policy by being named in an elderly client’s estate documents to inherit the client’s waterfront condominium. This is against securities laws. Studer’s former firm, Kovack Securities, may be liable for investment losses because it failed to properly supervise him. Please call our Chicago-based law firm today to speak to one of our attorneys about your options of recovering your losses with Douglas Studer on a contingency fee basis in the FINRA arbitration forum. Call today as there is a statute of limitations on many of these cases. The call is free with no obligation.

According to his FINRA online BrokerCheck report, Mr. Studer was registered with Prime Capital Services in Port Richey, Florida from August 2001 until August 2006, H&R Block in New Port Richey, Florida from July 2006 until September 2007, VSR Financial Services in Apollo Beach, Florida from September 2007 until March 2009, Prime Capital Services in Tampa, Florida from March 2009 until November 2013, National Securities Corp in Aventura, Florida from November 2013 until November 2015 and Kovack Securities in Fort Lauderdale, Florida from October 2015 until July 2016. He has two customer disputes against him, is not licensed and has been permanently barred from the industry.

Stoltmann Law Offices is investigating Ralph Fetrow, a former broker with Castleview Partners. Mr. Fetrow was terminated from Castleview Partnes in September 2016 after he allegedly violated firm policy and was under investigation for possible violations of firm policies and procedures prohibiting trading away and outside business activities. These outside business activities included Painted Hill Farms, Financial Planning Association, Shippensburg University, RAMS 88 Inc., and Ralph Fetrow Consulting. The selling of notes and other investments outside of a brokerage firm is referred to as “selling away” and oftentimes, brokers who engage in this practice use outside business activities in order to market their securities. It is against securities rules and regulations, and is a tactic used by brokers to be able to keep all of the commissions associated with the product, instead of having to share them with their member firm.

According to his FINRA BrokerCheck report, Fetrow was registered with First Union Brokerage Services in Charlotte, North Carolina from March 1999 until August 2000, JJB Hilliard, WL Lyons in Louisville, Kentucky from November 2000 until June 2001, PNC Capital Markets in Pittsburgh, Pennsylvania from June 2001 until December 2006, PNC Investments in York, Pennsylvania from December 2006 until January 2007, Financial Network Investment Corporation in Dillsburg, Pennsylvania from March 2007 until October 2008 and Invest Financial Corp in Hershey, Pennsylvania from October 2008 until December 2015. He is currently registered with Kovack Securities in LeMoyne, Pennsylvania and has been since February 2016.

If you lost money with Mr. Fetrow, you may be able to bring a claim against his firm, Kovack Securities, in the FINRA arbitration claims process to recover them. We take cases on a contingency fee basis so we only get paid if you recover your losses. The call to us is free with no obligation so please call today.

According to the Financial Industry Regulatory Authority (FINRA), Andrew Corbman was formerly registered with Newbridge Securities in Landsdowne, Virginia. Allegedly, Mr. Corbman recommended unsuitably over-concentrated investment recommendations, and “distributed a sales brochure for an alternative mutual fund to his customers that was misleading and failed to provide a sound basis for evaluating the alternative mutual fund referenced in it.” He was also alleged to have churned investments, misrepresented material facts, participated in unjust enrichment, acted negligently, breached contract, breached fiduciary duty, effected unauthorized transactions and participated in civil conspiracy, among other things. These are all against securities rules and regulations and his former firm, Newbridge Securities, can be held liable for his transgressions. Please call our law offices today to speak to an attorney about your options. 312-332-4200.

Corbman was registered with RAF Financial Corp, AG Edwards & Sons, Morgan Stanley, ING Financial Partners, FSC Securities, Kovack Securities and Newbridge Securities in Landsdowne, Virginia from November 2015 until March 2016. He has twelve customer disputes against him, one of which is currently pending. He is not licensed within the industry.

According to recent records, Gerald O’Halloran, a broker with Kovack Securities in Punta Gorda, Florida, has four customer complaints and three pending customer complaints. Customers have alleged that O’Halloran misrepresented and omitted material facts, acted negligently, failed to supervise, breached fiduciary duty and breached contract. He also allegedly executed unauthorized trades and executed unauthorized transactions. These are all against securities rules and regulations. O’Halloran has been in the industry for 31 years and has been registered with Kovack since 2004. Previous registrations include Financial Investment Analysts in Pittsburgh, Pennsylvania, AG Edwards & Sons in St. Louis, Missouri, Edward D. Jones & Company in St. Louis, and United Service Planning Association in Fort Worth, Texas. If you lost money with O’Halloran, please call our securities law offices in Chicago today to speak to an attorney for free. There is no obligation. His firm, Kovack Securities, may be responsible for losses and we can help you bring a claim against the firm on a contingency fee basis in the arbitration forum.

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