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Investor Rights Blog

The Law Firm of David Chase is reviewing multiple customer allegations of misconduct, including excessive trading, unauthorized trading and unsuitability, made against New York based National Securities Corporation broker Jay Shah. Mr. Shah has denied the claims. Shah has been employed by National Securities Corporation since 2012 at its New York, New York Office. Previously Shah was employed by VFinance Investments from 2006 to 2012, also based in New York. Unauthorized trading takes place when...
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The Law Firm of David Chase, headed by stock broker fraud lawyer David Chase, is reviewing a customer’s allegations levelled against Dallas, Texas-based Merrill Lynch broker Matthew Ashley. The customer complaint, filed in May 2017, alleges misconduct involving: misrepresentation, unsuitable recommendations, misappropriation of funds and excessive trading, and seeks $5 million in damages.  The complaint is pending. Excessive trading, commonly referred to as churning, takes place where a stock broker controls the customer’s account and...
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The Law Firm of David Chase, headed by stock broker fraud lawyer David Chase, is reviewing a customer’s allegation made against Boston, MA-based Janney Montgomery broker Richard A. Baum concerning the recommendation of an unsuitable, overconcentration of energy securities. Filed in August of 2017, the customer complaint asserts that the improper overconcentration took place over a time period spanning from 2006 – 2014. Baum has been employed by Janney Montgomery Scott at its Boston, MA...
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The Law Firm of David Chase is reviewing a customer’s allegations of unsuitability and misrepresentations of material facts made in 2016 against former Frederick, Maryland-based Merrill Lynch broker James Merkel. The complaint, which clams $1 million in damages, is currently pending. In August 2017, Merrill Lynch discharged James Merkel for conduct involving selling away. Selling away is when a stock broker sells an investment to his customers without the knowledge and consent of his employing...
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The Law Firm of David Chase is reviewing multiple customer allegations of misrepresentation, unsuitable recommendations, excessive trading and over concentration made against Coral Gables, Florida-based Morgan Stanley broker David Garcia Cirilo. According to FINRA’s BrokerCheck Report, there are several customer complaints that have been made against David Garcia Cirilo in the last few years, which involve allegations of misconduct, including unsuitability, misrepresentation, breach of contract and overconcentration. Morgan Stanley has paid substantial settlements to resolve...
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The Law Firm of David Chase is reviewing customer allegations made against former New York, New York-based Spartan Capital Securities broker Caeron A. Mcclintock involving claims of unauthorized trading, churning and mismanagement.  In the complaint that is still pending, the customer alleges damages of approximately $135,000. Mcclintock was employed by Spartan Capital Securities in its New York, New York location. He was previously employed by Legend Securities from 2015-2016. Excessive trading and unauthorized trading are...
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The Law Firm of David Chase is reviewing allegations of improper discretionary trading against former Los Angeles, CA-based Morgan Stanley broker Joel D. Davidman following a FINRA enforcement action against him that alleged such misconduct. According to FINRA’s BrokerCheck report, Morgan Stanley terminated Davidman as a result of allegations concerning his improper exercise of discretion in client accounts. Davidman was employed by Morgan Stanley at its Beverly Hills, CA location from June 2009 until his...
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