Joe Peiffer, Responsible Attorney. The FINRA Brokercheck report also reflects the main address in Boca Raton, Florida. A federal court authorized this Notice. National Investment Fraud Lawyers KlaymanToskes Continues Investigation of National Securities Corporation for GPB Capital Sales. National Securities Corporation has been the subject of many regulatory matters. Of approximately 70 FINRA disclosures, at least 15 are customer initiated arbitrations against the firm. Silver Law is actively investigating several current and former National Securities advisors. The lawsuit states that the Respondents actions have caused the Claimants alleged damages of approximately $1,000,000.00 The lawsuit allegations are as follows: negligence, breach of fiduciary duty, negligent supervision, breach of contract, fraud, and violation of Floridas Investor Protection Act 517. ARBITRATION ATTORNEYS UNCOVER SECRET ARRANGEMENT: HOW MANY CASES MUST BE VACATED NOW, FINRA? If you invested in a GPB or another product through National Securities Corporation, you may have a legal claim. Design a site like this with WordPress.com. Read more about our results. Christopher Ortiz | National Securities Corporation | GPB Capital Lawsuit Who is Christopher Ortiz? Among the reasons for the fine include the firms disclosure failures regarding GPB Capital. 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. Please. Investment fraud complaints can be widespread and relate to a variety of types of broker misconduct. In addition, it is alleged that the firm filed a series of untimely and inaccurate financial entries, including repeatedly overstating its net capital for the last business day of every month, and therefore booked transactions for which there was no economic support. While employed as a financial advisor at NSC, Mr. Labarca was based in Houston, Texas. Is this happening to you frequently? While employed as a financial advisor at National Securities Corporation, Mr. Labarca was based in an office in Houston, Texas. View all posts by Meredith Davis. The attorneys and staff at Peiffer Wolf Carr Kane Conway & Wise produce top-quality work and our results speak for themselves. The firm, which has been a deal-making machine since it launched in 2004, will go private as a result of its acquisition by private equity manager Clayton Dubilier & Rice. The claim further alleges that National Securities Corporation unsuitably invested its client in the following non-traded REITs: First Capital REIT, American The Division alleged the broker was not yet registered in Indiana when he opened accounts with clients residing in Indiana. As alleged, NSC 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. 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. Hospitality Investors Trust REIT Lawsuits, National Securities Corporation Investigation, Northstar Financial Services (Bermuda) Investigation, Clark Harris and Sigma Financial Corporation Investigation, Stephen Swensen Ponzi Scheme Investigation, Credit Suisses actions caused DGAZ to become completely dislocated from the index. GPB Capital Holdings, 62 disclosures include regulatory events. An official website of the United States government. Abuse or misuse of a system or data in violation of policy. If you are/were a client of a broker registered with National Securities Corporation, Contact Us Today by calling 585-310-5140 or by filling out an online contact form for a FREE Consultation. A National Securities Arbitration & Investment Fraud Law Firm. According to the New Release published by FINRA on June 23, 2022, between June 2016 and December 2018, NSC, while acting as an underwriter for three initial public offerings and seven follow-on offerings, violated Rule 101 of Regulation M under the Securities Exchange Act of 1934 by unlawfully inducing or attempting to induce certain customers to purchase stock in the aftermarket of the offerings prior to their completion.. for its misconduct relating to a failed private placement. Here is a brief summary of FINRAs allegations against Fazzone. Peiffer Wolf has begun an investigation into the brokers at National Securities Corporation. After having been open since 1947, the year Jackie Robinson first played for the Brooklyn Dodgers, National Securities Corp. told Finra on Monday it was shutting down. 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 Law Firm, at no cost to investors, will review account activity and account statements to determine whether there was any misconduct, whether there are damages and the legal causes of action. April 15, 2022 | Silver Law Group Boca Raton, FL-based National Securities Corporation has received a fine of $663,000 after FINRA found that it deceived investors from December 2017 through January 2018. As such, financial advisors and their firms must conduct proper due diligence before making any such recommendations. In this latest dispute, Tesla, followed by news that 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. We are happy to discuss any questions related to our fees as well as different financial arrangements we can structure. Non-traded REITs do not re-price on a regular basis, are expensive, have historically been outperformed by REITs that are traded on national exchanges, and carry significant risk. Silver law is a law firm with over 20 years experience in the FINRA arbitration and resolution process in recovering investor funds lost due to broker misconduct and mismanagement. 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 The firm was also alleged to have failed to report settlements of customer FINRA dispute resolution claims for damages exceeding $15,000 within the required time period. 62 disclosures include regulatory events. As alleged, the firm failed to identify or ignored red flags involving numerous instances of potentially suspicious securities transactions. Submit cyber threat indicators and defensive measures with DHS and the Federal Government (includes sharing under the Cybersecurity Information Sharing Act of 2015). A private placement investment is notoriously risky for most main street type investors. She succeeds Don Plaus, who's retiring. National Securities Corporation was predominately displayed on this list of broker-dears, with Reuters showing that 34.6 percent of the NSCs 714 brokers had at least one piece of negative information on their official record. 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. The investor alleged that a National Securities, In February of 2015, National Securities Corporations financial advisor John Joseph Labarca (, was permanently barred from the securities industry for allegedly committing serious misconduct, including failing to produce requested documents and failing to cooperate with FINRA investigators and enforcement staff. On 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 an attempt to artificially influence the market. He has been in the securities industry for 29 years and is currently listed with, since 6/24/2015: NATIONAL SECURITIES CORPORATION (NSC) 255 EXECUTIVE DRIVE SUITE 305 PLAINVIEW, NY 11803 If you have experienced losses due to the recommendations or actions of NATIONAL SECURITIES CORPORATION (NSC) and/or their broker, EDWARD DEICKE, contact Soreide Law Group and speak to a lawyer at no cost regarding the possible recovery of your investment losses through a FINRA arbitration at: 888-760-6552. Related Topics: Read more about what judges say about us. On June 23, 2022, FINRA announced that it sanctioned National Securities Corporation around $9 million. National Securities. For more information about The White Law Group call our Chicago office at 312-238-9650 or visit us on the web at http://www.whitesecuritieslaw.com. Our lawyers will guide you through every step of the arbitration process with personal and professional support. (Case # 03-01071). Scott is admitted to practice in New York and Florida and the firms FINRA arbitration attorneys represents investors nationwide. This field is for validation purposes and should be left unchanged. NEW YORK, NY / Plaintiffs and the Class Members claim that Defendant negligently offered and recommended securities of Beamreach Solar (f/k/a Solexel) forsale to them, without a reasonable basis. Defendant denies all of the claims and says it did not doanythingwrong. The lawsuit alleges that the Claimants have suffered significant losses during a time when the financial markets have enjoyed record returns of actual damages of no less than $80,000. He was named to the Top 40 Under 40 by Daily Journal and a Rising Star in Class Actions by Law360. Federal incident notification guidelines, including definitions and reporting timeframes can be found here. Contingent fee. The new firm can move potential hires and recruits in either direction. | GPB Capital Lawsuit Christopher Ortiz is a registered broker with National Securities Corporation and an Investment Adviser registered with National Asset Management. National Securities Corporation was included on this list, with Reuters finding that 34.6 percent of the companys 714 brokers had at least one piece of negative information on their record. Haselkorn & Thibaut (InvestmentFraudLawyers.com) is currently investigating National Securities Corporation for allegations of financial advisor malpractice. Share sensitive information only on official, secure websites. Allegedly, the Respondent and their Financial Advisor, EDWARD PAUL DEICKE (EDWARD DEICKE) recommended speculative non-traded REITs such as Northstar Healthcare and the AR Global NYC REIT. Before recommending an investment, a broker-dealer has a fiduciary duty to adequately disclose the risks involved in the investment and to perform the necessary due diligence to determine whether the investment is suitable for the investor. A registered broker with National Asset Management FINRA Brokercheck report also reflects the address. Silver Law is actively investigating several current and former National Securities Corporation | GPB Capital Christopher! Can structure, financial advisors and their firms MUST conduct proper due diligence before any. About us Law firm instances of potentially suspicious Securities transactions sensitive information only on official, secure.! Address in Boca Raton, Florida least 15 are customer initiated arbitrations against the.! 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