Maryland Securities Misrepresentation Attorney
Maryland has hundreds of stock brokerage firms and investment advisory offices. With so many stock brokerage firms and investment advisory offices, comes the potential for their stockbrokers, financial advisors, and other representatives to make misrepresentations about investing in securities (stocks, bonds, options, mutual funds, REITs, Junk Bonds, Hedge Funds, Structured Products, etc.) they are selling, the strategies they are recommending (margin, short selling, option) and to engage in many other kinds of stockbroker fraud and stockbroker misconduct which violates Federal and Maryland securities laws and Financial Industry Regulatory Authority (FINRA) rules and stock brokerage firms policies and procedures.
For example, Joseph Anthony Giordano, former Registered Principal of Capital Investment Group, Inc. (CIG) of Annapolis, Maryland and more recently with Meyers Associates, L.P. of Edgewater, Maryland, submitted a Letter of Acceptance, Waiver and Consent in which he agreed to, without admitting or denying, the Financial Industry Regulatory Authority’s (FINRA) penalties and findings for the distribution and solicitation of unregistered Empire debentures, the solicitation of which was prohibited by CIG, and for making unsuitable recommendations to his customers.
FINRA found that Mr. Giordano of Grasonville, Maryland, took part in the distribution of unregistered Empire Corporation (Empire) debentures, which is a violation of Section 5 of the Securities Act of 1933. According to FINRA, Mr. Giordano sold nearly $3.1 million worth of Empire debentures to at least 45 CIG investors. Mr. Giordano failed to conduct proper due diligence pertaining to the fact that these debentures were not registered with the U.S. Securities and Exchange Commission or the State of Maryland nor did they qualify for a registration exemption.
FINRA also found that Mr. Giordano made unsuitable recommendations to his customers based on their investment goals, objectives, financial profiles and risk tolerance, recommending that they purchase the debentures in their retirement accounts and at unsuitable concentrations and even allegedly going so far as to recommend to at least one investor that the debenture was “safe” and that “the issuer will have no problem paying back the principal plus interest.” The Empire debentures were risky investments because of their high-yield, lack of credit analyses or registration statement, and total absence of a secondary market. Mr. Giordano allegedly made untrue statements to CIG regarding the prohibited solicitation of these debentures, allegedly advising the firm that he was not receiving compensation, when in fact one year he received $63,900 in compensation for his sales of the Empire debentures. As a result, Joseph Giordano was prohibited by FINRA from association with FINRA members in any capacity.Experienced Securities Lawyers Who Represent Investors With Misrepresentation Claims In FINRA Arbitrations Throughout Maryland and Nationwide
Are you a Maryland investor who has suffered significant losses in your stock brokerage and investment accounts? Did your Maryland stockbroker or investment advisor, misrepresent facts about the securities, investments or strategies they were recommending or otherwise mismanage your investment account? If so, you need representation by experienced, highly-rated and nationally recognized FINRA arbitration attorneys who know FINRA rules and procedures and how to handle these FINRA arbitration cases and other complex legal issues.
By hiring a top rated securities attorney like Robert Wayne Pearce with over 40 years of experience with investment misrepresentation claims on both sides of the table in FINRA arbitration proceedings, you will clearly see that Attorney Pearce doesn’t just handle cases—he aggressively represents investors and one of the best securities attorneys to recover your investment losses for all types of stockbroker fraud and stockbroker misconduct in FINRA arbitration proceedings!
At The Law Offices of Robert Wayne Pearce, P.A., we represent investors with securities misrepresentation claims and many other kinds of securities law and investment disputes in FINRA arbitration and mediation proceedings. We handle a wide range of practice areas besides securities misrepresentation and stockbroker fraud claims such as stockbroker breach of fiduciary duty, stockbroker negligence, failure to supervise stockbrokers, and unsuitable recommendations by stockbrokers. Attorney Pearce and his staff represent investors throughout Maryland, and across the United States on a CONTINGENCY FEE basis, which means you pay nothing - NO FEES-NO COSTS - unless we put money in your pocket after receiving a settlement or FINRA arbitration award.
The Law Offices of Robert Wayne Pearce, P.A. are highly experienced lawyers who successfully handle securities misrepresentation, stockbroker fraud, stockbroker misconduct and other investment disputes in FINRA arbitration proceedings, and who work tirelessly to secure the best possible result for you and your case. For dedicated representation by an attorney with over 40 years of experience and success in all kinds of securities law and investment disputes in FINRA arbitrations serving Maryland citizens, contact the firm by phone at 561-338-0037, toll free at 800-732-2889 or via e-mail.