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Stock broker Stephen Sullivan of New York has been suspended and fined by industry self-regulator FINRA for allegedly engaging in “quantitatively unsuitable trading in customer accounts.” FINRA’s investigation led to findings that Sullivan recommended a pattern of high-cost, high-frequency, in-and-out trading in the customers’ accounts, and that Sullivan’s customers routinely followed…
Financial adviser Lewis Stein of Boca Raton, Florida is involved in a legal dispute with a former customer who alleges that Mr. Stein recommended unsuitable investments. The customer also alleges “breach of fiduciary duty, misrepresentation, [and] negligence.” The customer is seeking $100,000 in damages. The conduct that is the subject…
Stock broker David Fageson of Boca Raton, Florida has been suspended by the Financial Industry Regulatory Authority after an investigation by the regulator led to findings that Fageson “engaged in quantitatively unsuitable trading in the accounts of three senior customers.” One of the customer’s accounts allegedly lost $283,314, while generating more than…
Detroit securities attorneys Mika Meyers, PLC are interested in talking to current and former customers of stock broker William McLellan of Rochester, Michigan. According to his online Brokercheck report, McLellan is involved in a customer dispute relating to allegations that he recommended unsuitable investments to the customer. The customer, who is seeking $100,000…