Articles Tagged with Meyers Associates

AdobeStock_50775754-2-300x200Stoltmann Law Offices continues to investigate Richard Gomez, who entered into a Decision with the Financial Industry Regulatory Authority (FINRA). According to the Decision, Mr. Gomez allegedly engaged in the private sale of securities without notifying his member firm and recommended those securities to investors, including his firm’s customers, without having a reasonable basis for his recommendations. For this, he was barred from the industry by the FINRA panel. The panel also found that Gomez misrepresented material facts while recommending and selling the securities in question to the investors. A broker must only recommend and sell those securities that are suitable for his clients by taking into account their age, net worth, investment objectives and investment sophistication. If he does not, his firm may be liable for losses, because it has a duty to reasonably supervise its registered brokers.

Gomez was registered with these firms:

Hunter Scott Financial (FINRA expelled the firm in 2014)

AdobeStock_69736117-2-300x200The Financial Industry Regulatory Authority (FINRA) recently barred former Meyers Associates broker, David Sheppard after churning allegations surfaced. This is also referred to as excessive trading, and is when a broker trades in and out of stocks and securities many times over a short period of time. This is done to create large commissions for the broker and typically results in large fees for the client. It is against securities laws, and firms like Meyers Associates can be sued for broker misconduct. If you suffered losses because of Mr. Sheppard, please call our securities law firm today at 312-332-4200 to find out how you can reclaim those investment losses. The call is free with no obligation. We sue firms in the FINRA arbitration forum on a contingency fee basis.
David Leonard Sheppard was previously registered with AS Goldmen & Co., The Boston Group, Painewebber, Kimball & Cross Investment Management, AG Edwards & Sons, Oppenheimer & Co., Petersen Investments, Capitol Securities Management, Bishop, Rosen & Co, Aegis Capital Corp, and Meyers Associates in New York, New York from December 2015 until October 2016. He has three customer disputes against him, one of which is currently pending. He has been permanently barred from the industry.

AdobeStock_33766885-1-300x200Have you lost money with David Sheppard, a former registered broker at Meyers Associates in New York, New York? Sheppard has been accused of engaging in excessive trading, or churning, in four customer accounts, while he was registered with Meyers Associates. Churning is a tactic used by brokers to generate large commissions for themselves, and it is against industry rules. Brokerage firms like Meyers Associates have a responsibility to adequately supervise all brokers who are registered at the firm. Firms must also take steps to ensure that all of their brokers follow the rules and regulations of the securities industry. If they do not, the firm may be liable for losses sustained by the customers.

According to his Financial Industry Regulatory Authority (FINRA) BrokerCheck report, Mr. Sheppard was registered with AS Goldmen, The Boston Group, Painewebber Inc., Kimball & Cross, A.G. Edwards, Oppenheimer, Petersen Investments, Capitol Securities Management, Bishop, Rosen & Co., Aegis Capital in New York, New York from February 2014 until December 2015 and Meyers Associates in New York from December 2015 until October 2016. He has three customer disputes against him, one pending and is not currently registered within the industry.

AdobeStock_1800313-1-300x204Recently, Meyers Associates was issued a Disciplinary Report by the Financial Industry Regulatory Authority (FINRA) in February 2017 in which the firm was fined $350,000 and required to retain, within 60 days of the decision, an independent consultant to conduct a comprehensive review of each of the firm’s policies, related to branch supervision. Meyers Associates was found to have failed to adequately supervise a representative’s efforts to increase the reported price and trading volume of common stock of a company that was financially distressed. The firm did not adequately review emails sent and received by the branch office, and did not adequately review third-party research reports and other public communications, among other things. It is because of these failures that Meyers Associates may be responsible for investment losses. If you were a customer of Meyers Associates, please call our securities law firm today to speak to an attorney about your options of bringing a legal claim against the firm in the FINRA arbitration forum on a contingency fee basis. The call to us is free with no obligation.

AdobeStock_762441-1-300x225According to a recent Letter of Acceptance, Waiver and Consent (AWC) with the Financial Industry Regulatory Authority (FINRA), Joseph Ambrosole was accused of executing five unauthorized trades in the account of a customer while associated with Meyers Associates. Ambrosole allegedly sold four securities owned by the customer on October 13, 2015 and used the proceeds from the sale to buy a Unit Investment Trust (UIT) on behalf of the customer. This was done without the customer’s authorization and is against securities rules. For this, Ambrosole was suspended from the industry for one month and fined $5,000.

Ambrosole was registered with Obsidian Financial Group in New York, New York from September 2011 until August 2012, Laidlaw & Company in Stamford, Connecticut from August 2012 until March 2013, Global Arena Capital in New York from March 2013 until April 2015, Joseph Stone Capital in New York from April 2015 until July 2015 and Meyers Associates in New York from August 2015 until September 2016. He is not currently registered with any member firm.

Stoltmann Law Offices is interested in speaking to those individuals who may have lost money with Joseph Ambrosole. We may be able to help you bring legal recourse against his former firm, Meyers Associates, in the FINRA arbitration forum on a contingency fee basis. Please call 312-332-4200 today for a free consultation with an attorney. There is no obligation.

Stoltmann Law Offices is investigating Michael Lavolpe, a former registered representative of Meyers Associates in New York, New York. The Financial Industry Regulatory Authority (FINRA) alleged that Mr. Lavolpe engaged in churning, breached fiduciary duty and made unsuitable investments recommendations. He also allegedly owed his former firm, Meyers Associates, over $37,000. These are all against securities rules and regulations. Churning, or excessive trading, is a particularly egregious act by a broker used to generate large commissions for himself. It is against securities rules and regulations and firms such as Meyers Associates, can be held liable for brokers who churn accounts. Please call Stoltmann Law Offices today to speak to an attorney about your options of bringing legal claims against Meyers Associates for Lavolpe losses. The call is free with no obligation. According to his online FINRA BrokerCheck report, Mr. Lavolpe was registered with Meyers Associates in New York, New York from March 2006 until July 2014. He has seven customer disputes against him, five of which are currently pending.

Stoltmann Law Offices is investigating Anthony Mastroianni, Jr., a former registered broker with Meyers & Associates and J.P. Turner & Company. Clients have alleged that Mr. Mastroianni Jr. churned accounts, mishandled accounts, made unsuitable investment recommendations, breached fiduciary duty and contract, and failed to pay outstanding loans from customers. All of these are against securities rules and regulations. Mastroianni was registered with Joseph Stevens in Old Bridge, New Jersey from February 2004 until May 2008, National Securities Corp in Staten Island, New York from May 2008 until May 2009, JP Turner & Co. in Red Bank, New Jersey form April 2004 until May 2012, Alexander Capital in New York, New York from May 2012 until November 2013 and Meyers Associates in New York from November 2013 until June 2016. He has six customer disputes against him, two of which are currently pending.

Stoltmann Law Offices is investigating claims against broker Neal Scott, a broker with Meyers Associates. The Financial Industry Regulatory Authority (FINRA) alleged that Scott violated a number of securities laws including breaching fiduciary duty and suitability, among other claims. He also has seven judgments or liens against him. The Virginia Securities Department also alleged that Scott failed to complete his registration process in time and denied his registration in the state.

Scott was registered with E.G. Frances Co., Philips, Appel & Walden, Emanuel and Company, First Asset Management, Joseph Gunnar & Co., US Securities & Futures Corp, JP Turner & Co., Westpark Capital, Bishop, Rosen & Co., and Euro Pacific Capital. He is currently registered with Meyers Associates in New York, New York and has been since September 2015. He has four customer disputes against him, one of which is currently pending.

If you lost money with Neal Scott, you may be able to recover your investment losses by calling our securities law offices at 312-332-4200 and speaking to an attorney for free. We sue firms such as Meyers Associates in the FINRA arbitration forum for not properly supervising their brokers. The firm may be responsible for money losses because of this and you may be able to recover your losses on a contingency fee basis.

According to a Financial Industry Regulatory Authority (FINRA) Order Accepting Offer of Settlement on Thursday, George Johnson submitted the Offer. Allegedly, while registered with Meyers Associates as a representative, Johnson engaged in market manipulation, dissemination of spurious “research” and sales materials, fraudulent omission of material conflicts of interest in connection with the purchase and sale of a security, unauthorized disclosure of confidential, non-public material information concerning a securities offering and falsification of firm records. Between May 15, 2012 and May 24, 2012, he is accused of manipulating the market for the common stock of IceWEB Inc., by soliciting customers to buy and sell stock at increasingly higher and artificially inflated prices. He also allegedly sent materials concerning IceWEB stock that were misleading, exaggerated and unsupported claims. He also failed to disclose material information. He also allegedly intentionally misidentified the broker of record on five account applications and over 100 order memoranda submitted to Meyers in an attempt to cover up his violations of state registration requirements. All of these are against securities rules and regulations.

Johnson was registered with HJ Meyers & Co., American Fronteer Financial Corporation, Auerbach, Pollack & Richardson Inc., Stifel, Nicolaus & Co., Garden State Securities, Jesup & Lamont Securities Corp, Anderson & Strudwick and Meyers Associates in Chicago, Illinois from November 2011 until May 2013. He is currently registered with Newport Coast Securities in Chicago and has been since April 2013. He has seven customer disputes against him, one of which is currently pending. Please call our Chicago-based securities law firm to speak to an attorney for free if you are interested in bringing a claim against his former firm, Meyers Associates. They may be responsible for investment losses, as the firm had a duty to supervise him while he was registered there. We take cases on a contingency fee basis only, which means we only make money if you recover. Please call today.

According to a Financial Industry Regulatory Authority (FINRA) Order Accepting Offer of Settlement on Thursday, George Johnson submitted the Offer. Allegedly, while registered with Meyers Associates as a representative, Johnson engaged in market manipulation, dissemination of spurious “research” and sales materials, fraudulent omission of material conflicts of interest in connection with the purchase and sale of a security, unauthorized disclosure of confidential, non-public material information concerning a securities offering and falsification of firm records. Between May 15, 2012 and May 24, 2012, he is accused of manipulating the market for the common stock of IceWEB Inc., by soliciting customers to buy and sell stock at increasingly higher and artificially inflated prices. He also allegedly sent materials concerning IceWEB stock that were misleading, exaggerated and unsupported claims. He also failed to disclose material information. He also allegedly intentionally misidentified the broker of record on five account applications and over 100 order memoranda submitted to Meyers in an attempt to cover up his violations of state registration requirements. All of these are against securities rules and regulations.

Johnson was registered with HJ Meyers & Co., American Fronteer Financial Corporation, Auerbach, Pollack & Richardson Inc., Stifel, Nicolaus & Co., Garden State Securities, Jesup & Lamont Securities Corp, Anderson & Strudwick and Meyers Associates in Chicago, Illinois from November 2011 until May 2013. He is currently registered with Newport Coast Securities in Chicago and has been since April 2013. He has seven customer disputes against him, one of which is currently pending. Please call our Chicago-based securities law firm to speak to an attorney for free if you are interested in bringing a claim against his former firm, Meyers Associates. They may be responsible for investment losses, as the firm had a duty to supervise him while he was registered there. We take cases on a contingency fee basis only, which means we only make money if you recover. Please call today.

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