document.getElementById( "ak_js_1" ).setAttribute( "value", ( new Date() ).getTime() ); Peiffer Wolf has represented thousands of victims, and we remain committed to fighting on behalf of investors. National Securities Corporation alledgely failed to conduct adequate due diligence of private placements investment it offered. If it can be determined that the financial advisor violated FINRA rules and the employers failed to adequately supervise him, these firms can be held responsible for any resulting losses in a FINRA arbitration claim.". A private placement investment is notoriously risky for most main street type investors. National Securities Corporation (CRD #7569, Seattle, Washington) submitted a Letter of Acceptance, Waiver and Consent in which the firm was censured and ordered to pay restitution of $175,000 for failing to have reasonable grounds to believe that private placements offered by Provident Royalties, LLC and Medical Capital Holdings, Inc. were suitable for any customer. If you win, the lawyers fee will come out of the money awarded to you. Specifically, Financial Industry Regulatory Authority (FINRA) BrokerCheck disclosed that investors complained about the securities broker, who worked for Securities America Inc. We investigate all sales practice violations while taking into consideration the investors age, investment background, and the relationship between the investor and the brokerage firm and its financial advisor. The Settlement provides two types of benefits to Class Members: 1) payment of between approximately 10% or 40% of your investment amount in Beamreach, totaling $4,650,000 for the entire Class on a gross basis before deduction of attorneys fees, costs, and class administrative expenses, depending on whether you invested in the Series D Preferred Stock; Series D-1 Preferred Stock; or the Series D-2 Note Offering; and 2) two years of commission-free brokerage services from Defendant (or any acquiring firm should Defendant cease offering brokerage services), commencing at a date certain. National Investment Fraud Lawyers - No Recovery, No Fee -Call Us 1-800-856-3352, Investment Fraud Lawyers | Financial Advisor Fraud | SEC & FINRA Attorneys, Offices in Florida, New York, Arizona, Texas & North Carolina, Copyright 2023 Investment Fraud Lawyers, Call Now for a FREE Consultation 1-800-856-3352, Haselkorn and Thibaut, InvestmentFraudLawyers.com, specialize in fighting for investors nationwide and have offices in Florida, New York, North Carolina, Arizona, and Texas. He was named to the Top 40 Under 40 by Daily Journal and a Rising Star in Class Actions by Law360. (A Broker Comment on the complaint reads in part: The losses claimed are false and registered representative We pride ourselves on providing quality legal services to our clients and handle securities fraud cases throughout the country. According to the article, some of the Fortress companies promoted by National Securities brokers include: If you invested in any of these companies based on the recommendation of your National Securities Broker, you may have a legal claim. (Case # 2013036454901). Can I Sue My Financial Advisor forMalpractice? Attempts to gain unauthorized access to a system or its data, Unwanted disruption or denial of service, or. Please disable your ad-blocker and refresh. View all posts by Meredith Davis. Insecure configurations, design choices, and changing environmental conditions can also cause vulnerabilities. Silver Law Group and Scott Silver aggressively pursued their losses until he got their money back., You and your entire staff have been wonderfully organized, professional and a delight to hear from. On April 15th, 2015, National Securities Corporation (CRD #7569, Seattle, Washington) submitted a Letter of Acceptance, Waiver and Consent in which the firm was censured and fined $20,000 for reportedly failing to disclose that the firm would receive selling compensation for a private placement that it had marketed to potential investors. Filed in 2020, the complaint alleges that as a representative of National Securities Corporation, Jay Sheth recommended an unsuitable private placement product. National Investment Fraud Lawyers - No Recovery, No Fee -Call Us 1-800-856-3352, Investment Fraud Lawyers | Financial Advisor Fraud | SEC & FINRA Attorneys, Offices in Florida, New York, Arizona, Texas & North Carolina, Copyright 2023 Investment Fraud Lawyers, Call Now for a FREE Consultation 1-800-856-3352, Haselkorn and Thibaut, InvestmentFraudLawyers.com, specialize in fighting for investors nationwide and have offices in Florida, New York, North Carolina, Arizona, and Texas. On March 21st, 2001, a claimant was awarded more than $500,000 after alleging that National Securities Corporation employees had engaged in churning and unauthorized trading. Notably, this was a penny stock. Soreide Law Group has filed a FINRA arbitration on behalf of their clients (Claimants) against (Respondent), NATIONAL SECURITIES CORPORATION (NSC). Ginzkey v National Securities Corporation, Case No. The Division alleged the broker was not yet registered in Indiana when he opened accounts with clients residing in Indiana. Less than a month after defeating one shareholder-led class action securities fraud lawsuit, another has begun. It is alleged that National Securities Corporation failed to perform the necessary due diligence on these investments prior to recommending them to this particular investor. Haselkorn & Thibaut (InvestmentFraudLawyers.com) is currently investigating National Securities Corporation for allegations of financial advisor malpractice. A lawsuit filed last week in U.S. District Court for the Southern District of New York by Kay Johnson claims she was fired for her research into insider trading by WebSAN FRANCISCO, July 14, 2020 (GLOBE NEWSWIRE) -- Hagens Berman urges investors in J2 Global, Inc. (NASDAQ:JCOM) to submit their losses now. Ohio National Life Lawsuit and RebatingAllegations, https://investmentfraudlawyers.com/national-securities-corporation-lawsuit/, https://investmentfrulw.tumblr.com/post/611146656555171840. In December 2019, a former National Securities Corporation financial advisor (Todd Joseph Heinrich) was suspended by FINRA for allegedly failing to comply with a FINRA arbitration award or settlement agreement. The firm has successfully litigated against some of the largest companies in the United States, and has recovered more than a billion dollars on clients behalf. Design a site like this with WordPress.com. (Case # 2011025633901). Is this happening to you frequently? According to the firms BrokerCheck report, National Securities, which is based in Boca Raton, Florida, and has 574 registered reps and advisers, filed its termination requested paperwork with the Financial Industry Regulatory Authority Inc. and has moved its advisers into B. Riley Wealth Management. Usually that is not the case when dealing with legal matters but you guys (gals) rock., Ive always found them to be extraordinary counsel in terms of their preparation and their professionalism.. This is not junk mail, an advertisement, or a solicitation from a lawyer. focusing on broker-dealers that currently employ a high concentration of brokers who had red flags on their record with FINRA. The White Law Group is a national securities fraud, securities arbitration, and investor protection law firm with offices in Chicago, Illinois. For the last six years, Lindsay Hans has headed Merrill's Northeast and Mid Atlantic Divisions. negligently omitted to tell investors in two offerings related to GPB Capital about delays in the issuers required public filings, including audited financial statements, If you invested in a GPB or another product through National. As alleged, National Securities Corporation failed to conduct adequate due diligence of private placements offered and failed to establish, maintain and enforce a sufficient supervisory system designed to comply with rules in connection with the sale of private placements. Call us now for a free consultation at, Haselkorn & Thibaut (InvestmentFraudLawyers.com) is currently investigating. |Legal & Advertising Disclaimers. Share sensitive information only on official, secure websites. as of June 2022, with similar complaints and allegations. Call us now for a free consultation at, Breach of Fiduciary Duty and Broker Negligence, fine for failure to properly supervise a financial. Submit cyber threat indicators and defensive measures with DHS and the Federal Government (includes sharing under the Cybersecurity Information Sharing Act of 2015). According to the allegations in the lawsuit, NATIONAL SECURITIES CORPORATION (NSC) failed to disclose the high fees and commissions earned for these illiquid investment recommendations. Haselkorn & Thibaut, a national law firm for investors, is currently investigating losses from National Securities Corporation to securities fraud or Scott Silver zealously handled the matter, recovering my losses., I almost lost a lifetime of earnings after trusting the wrong person. The FINRA dispute went before a FINRA arbitration panel, which found in favor of the investor, awarding him $504,443.04. We have over 50 years of experience and a 95% success rate. Several of them have allegedly recommended NYC REIT, Phillips Edison REIT, AFIN REIT, GWGs L Bonds, Franklin Income Fund, GPB, and potentially other alternative investments to investors. To submit a report, please select the appropriate method from below: Report incidents as defined byNIST Special Publication 800-61 Rev 2, to include. Breach of Fiduciary Duty and Broker Negligence, In December 2016, a FINRA arbitration panel found against the is the brokerage and one of its representatives in a case involving allegations including a, This case was related to a National Securities Corporation customers purchase of a large number of shares in a company called Islet Sciences. In December 2013, a FINRA arbitration panel awarded a Colorado investormore than $219,000 in damagesfor losses related to a National Securities Corporations financial advisors recommendations that she put her money into unsuitable mutual funds. The FINRA Brokercheck report also reflects the main address in Boca Raton, Florida. While employed as a financial advisor at National Securities Corporation, Mr. Labarca was based in an office in Houston, Texas. 15 disclosures reference arbitration matters. Defendant denies all of the claims and says it did not doanythingwrong. According to FINRAs June press release, FINRA found NSC to be in violation of numerous securities laws and asserted that NSCs conduct was aimed at artificially stimulating demand and supporting the price of the offered securities, which tended to be thinly traded, in the immediate aftermarket., In addition, FINRA ordered NSC to pay more than $625,000 in restitution for failing to disclose material information to customers who purchased GPB Capital Holdings, LLC private placements. FINRA found that between April 2018 and July 2018, the brokerage negligently omitted to tell investors in two offerings related to GPB Capital about delays in the issuers required public filings, including audited financial statements.. Haselkorn & Thibaut (InvestmentFraudLawyers.com) is currently investigating National Securities Corporation for allegations of financial advisor malpractice. This includes: National Securities Corporation is headquartered in Seattle, Washington, and the firm is licensed to operate in 53 U.S. states and American territories. Anyone who invested with National Securities in encouraged to get a free This field is for validation purposes and should be left unchanged. As alleged, a supervisor approved the new account documents. B. Riley Financial, We are smart, experienced, and dedicated professionals who work tirelessly for our clients and take pride in the pursuit of justice on their behalf. The White Law Group is a national securities fraud, securities arbitration, investor protection and securities regulatory/compliance law firm with offices in Chicago, Illinois and Vero Beach, Florida. This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply. The FINRA Brokercheck report also reflects the main address in Boca Raton, Florida. The firm is led by Scott Silver, a former Wall Street defense attorney who has been representing customers in securities and investment fraud cases since 2002. Please. Investors should be aware that the current (February 2020). If you received a notification from Defendant, you may be included in this Settlement as a ClassMember.. Peregrine Financial Group Customer Litigation, Failing to report statistical information regarding customer complaints to FINRA within the required time period, Selling non-investment grade junk bonds issued by the Commonwealth of Puerto Rico to customers below the minimum denomination (Minimum denominations are intended to limit sales of securities to retail investors for whom such bonds may not be suitable), Failing to identify or ignoring red flags involving numerous instances of potentially suspicious securities transactions, Allowing its representatives to sell certain private placement investments without having reasonable grounds to believe that they were suitable for any customers, Failure to adequately supervise brokers/ agents, Selling securities below the public offering price in what was alleged to be a fixed-price offering, Employing an unregistered agent and allowing that person to conduct securities transactions, Numerous and excessive securities transactions, Unsuitable use of margin considering the customers financial situation, investment objectives, and needs, Unsuitable investments/ unsuitable recommendations, Failure to disclose material facts/ material omissions. Attorney Advertising. Peiffer Wolf and Meyer Wilson are currently investigating claims against Christopher Ortiz of National Securities Corporation for his recommendation of GPB The missed interest payments and defaults, according to FINRA, should have been a red flag to National Securities Corporation of possible problems with the private placement offerings. The lawsuit alleges that the Claimants have suffered significant losses during a time when the financial markets have enjoyed record returns of actual damages In June of 2017, Reuters released the results of a comprehensiveinvestigative reportfocusing on broker-dealers that currently employ a high concentration of brokers who had red flags on their record with FINRA. He shares the title with Mike Mullen, the former head of National Securities. Webmaintains your account, National Financial Services at (800) 801-9942 and COR Clearing LLC at (800) 811-3487 for instructions on how they may assist you by providing prompt Submitting a contact form, sending a text message, making a phone call, or leaving a voicemail does not create an attorney-client relationship. Davids advocacy has generated major recoveries for consumers impacted by financial fraud. Since the credit crisis of 2008, National Securities has reported two dozen disclosure items on its BrokerCheck report, with the $9 million Finra settlement the most recent. As alleged, a National Securities Corporation supervisor approved the new accounts at the time as well. WebOn June 23, 2022, FINRA announced that it had fined and sanctioned National Securities Corporation for approximately $9 million it received for underwriting 10 public offerings in FINRA also alleges that the firm did not maintain accurate and current books and records, as well as failed to create and maintain a system to supervise employees. Silver Law Group is a nationally recognized securities and investment fraud law firm with Martindale-Hubbell Peer Review Ratings AV rated lawyers that handle all securities arbitration matters on a contingency fee basis. The White Law Group announces the filing of a FINRA arbitration claim against National Securities Corporation involving high-risk non-traded REITs. Law firm with offices in Chicago, Illinois national securities corporation lawsuit to gain unauthorized access a! For consumers impacted by financial fraud has begun 95 % success rate official, websites! 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