lawsuit - Israels & Neuman, PLC

Aaron Israels Secures FINRA Award of Nearly $9.5 Million for Investors

Israels & Neuman, PLC — Sat, 31 Jan 2026 15:19:35 GMT

A Financial Industry Regulatory Authority (FINRA) arbitration panel has awarded approximately $9.5 million in compensatory damages plus interest to a group of investors represented by Aaron Israels of the securities Israels & Neuman, PLC, following claims against A.G. Morgan Financial Advisors, LLC and its principals, Vincent Jerome Camarda and James Edward McArthur.

The final arbitration award was issued on January 28, 2026.

View the Arbitration Award Here

Claims Brought on Behalf of Multiple Investors

The investors, represented by Israels & Neuman, PLC, asserted claims including breach of fiduciary duty, failure to supervise, negligence, breach of contract, and violations of FINRA rules arising from multiple securities investments.

Nearly $9.5 Million Awarded, Plus Ongoing Interest

The arbitration award holds Camarda and A.G. Morgan jointly and severally liable for the majority of the damages, with McArthur and A.G. Morgan jointly liable for a smaller portion.

Individual investor awards ranged from tens of thousands of dollars to more than $2.5 million, with interest accruing daily until the amounts are fully paid. In total, the panel awarded $9,494,007 in compensatory damages, along with costs and fees. All but one of the investors represented recovered damages in the case.

Media Coverage Highlights Pattern of Misconduct

The arbitration decision was reported by Financial Advisor IQ, which noted that A.G. Morgan and its principals have lost multiple arbitration cases in recent months, resulting in millions of dollars in awards to investors.

The report further noted that Camarda has failed to pay multiple prior arbitration awards or settlements, and that the respondents are defendants in an ongoing SEC enforcement action alleging the sale of unregistered securities to hundreds of investors.

View the Financial Advisor IQ Article Here

Frequently Asked Questions

What is FINRA arbitration?
FINRA arbitration is a dispute resolution process used to resolve disputes between investors and brokerage firms or investment advisers. Arbitration decisions are final and binding.

What does “joint and several liability” mean?
Joint and several liability means each responsible party can be held liable for the full amount of the damages awarded, regardless of how responsibility is divided among them.

Why did the panel enter a default judgment?
The panel entered a default judgment after the respondents failed to comply with discovery obligations and failed to appear at scheduled hearings.

Does winning a FINRA arbitration guarantee recovery?
No. While an arbitration award establishes liability, investors may still face challenges collecting the awarded amounts, particularly when respondents have a history of unpaid awards.

How can investors determine whether they have a claim?
Investors who suffered losses due to unsuitable investments, misrepresentations, or supervision failures should consult with an experienced securities attorney to evaluate potential claims.

Israels & Neuman Represents Investors Nationwide

Aaron Israels, who is the managing partner of Israels & Neuman PLC, represents investors nationwide in FINRA arbitrations and securities fraud matters involving unsuitable investments, private placements, promissory notes, and supervision failures.

Call today for a Free and Confidential Case Review

All of our arbitration cases are taken on a contingency fee basis, meaning no up-front costs! Call us to discuss your potential case and let us help you recover the money you deserve.

(720) 599-3505

SHAUN GRIMALDI of E1 Asset Management Subject of COMPLAINTS

Israels & Neuman, PLC — Mon, 10 Jul 2023 17:32:22 GMT

Shaun Grimaldi, with E1 Asset Management, Subject of Numerous Customer Complaints

JERSEY CITY, NEW JERSEY

Are you a current or former customer of financial advisor Shaun Grimaldi from Jersey City, New Jersey? The securities and investment fraud law firm of Israels & Neuman is reviewing allegations made against Shaun Grimaldi, who has worked with E1 Asset Management since 2003. FINRA’s BrokerCheck shows that Mr. Grimaldi is the subject of two complaints filed against E1 Asset Management since May 2023.

FINRA’s BrokerCheck reveals that a May 2023 complaint alleges that claims related to options, over-the-counter (OTC) stocks, and listed stocks, allegedly causing $4 million in damages. A June 2023 complaint was brought by the beneficiary of a now-deceased customer’s account, alleging mismanagement of the account. The complaints are still pending.

Shaun Grimaldi worked in an office in Jersey City, New Jersey while working for E1 Asset Management from 2003 to the present. Grimaldi was also previously the subject of three other complaints between 2011 and 2015.

As an associated person of a FINRA member, Shaun Grimaldi has an obligation to abide by FINRA Rules. As an example, FINRA Rule 2111 provides that financial advisors’ recommendations to their customers must be suitable in light of the investors’ age, risk tolerance, investment objectives, and other factors. A failure to make suitable recommendations could result in financial liability for the advisor and/or brokerage firm.

Israels & Neuman regularly represents investors against brokerage firms in FINRA arbitration. We represent investors throughout the country, including investors in New Jersey and New York.

View Grimaldi, s BrokerCheck 7.10.23

If you lost money with Shaun Grimaldi or E1 Asset Management, please Contact Us at (206) 795-5798 for a free evaluation of your case.

COMPLAINTS Against SCOTT KEMPS of Great Point Capital

Israels & Neuman, PLC — Mon, 26 Jun 2023 15:43:30 GMT

Scott Kemps, with Great Point Capital, Subject of Eight Complaints

MELBOURNE, FLORIDA

Did you lose money with financial advisor Scott Kemps, with Great Point Capital in Melbourne, Florida? Scott Kemps has been the subject of eight customer complaints throughout his career, including a customer complaint that was made in December 2022.

The December 2022 customer complaint alleged that Kemps recommended unsuitable private placements and/or limited partnerships to a customer. The customer alleges $400,000 in damages from the allegedly unsuitable investments.

Mr. Kemps has been affiliated with Great Point Capital in Melbourne, Florida from August 2014 to the present. He has been in the securities industry since 1988. He was also fined by Florida for $5,000 in 2014.

Great Point Capital and its advisors have obligations to make suitable investment recommendations to customers. A failure to abide by these rules can lead to financial liability for the firm and/or advisor.

Our securities arbitration law firm represents clients in FINRA Arbitration all over the country, including investors in Florida. We have recovered millions of dollars for investors against numerous firms.

View Kemps, s BrokerCheck 6.26.23

If you lost money with Scott Kemps or Great Point Capital, please Contact Us at 206-795-5798 for a free evaluation of your case.

DOUGLAS SCHMITZ of Classic Asset Management Subject of SEC Action

Israels & Neuman, PLC — Fri, 05 May 2023 17:22:18 GMT

Douglas Schmitz, with Classic Asset Management, Subject of SEC Action

FARGO, NORTH DAKOTA

Have you lost money with financial advisor Douglas Schmitz of Fargo, North Dakota? Our law firm is looking into claims made by the Securities and Exchange Commission of Douglas Schmitz, who owns Classic Asset Management and Classic LLC. The SEC alleged that Douglas Schmitz used leveraged and inverse ETFs and often held them for beyond a single day, despite the fact that these ETFs are designed to be used for only one trading day.

The SEC alleged that this conduct occurred from January 2017 to December 2020. To settle these allegations, Douglas Schmitz and Classic Asset Management agreed to disgorge over $600,000, interest of $118,000, and a combined penalty of $200,000.

Douglas Schmitz has been a financial advisor and registered representative of Classic LLC since November 2012. He has also been an investment advisory representative of Classic Asset Management from July 2006 to the present. Schmitz operates a Fargo, North Dakota office. He’s also been the subject of three customer complaints.

Investment advisors are considered to be fiduciaries of their customers, meaning that the advisor has to put their customers’ interest before their own. Violations of industry rules can be evidence that the advisor violated his fiduciary duty to a client, which can result in financial liability.

Israels & Neuman PLC is a securities and investment fraud law firm with offices in Denver, Colorado and Seattle, Washington. We represent investors in FINRA arbitration proceedings in all 50 states, including investors in North Dakota.

View Schmitz, d SEC Order

View Schmitz, d BrokerCheck 5.5.23

If you lost money with Douglas Schmitz, Classic Asset Management, or Classic LLC, please Contact Us at 206-795-5798 for a free evaluation of your case.

RENE BOLIVAR of First Allied Securities in California is BARRED

Israels & Neuman, PLC — Tue, 18 Apr 2023 21:26:04 GMT

Rene Bolivar, Formerly with First Allied Securities, Barred from Securities Industry

SALINAS, CALIFORNIA

Did you invest with stockbroker Rene Bolivar in Salinas, California? Our securities arbitration firm is reviewing claims made against Rene Bolivar. FINRA’s Disciplinary Database reveals that in April 2023, he was barred from the securities industry by FINRA, because he failed to respond to an investigation.

FINRA began its investigation when a customer filed a civil complaint against Rene Bolivar. The complaint alleged that he was improperly named as a beneficiary of a deceased client’s trust.

According to BrokerCheck, Bolivar had been with First Allied Securities from 2007 to June 2021. He worked in Salinas, California.

As a licensed stockbroker, Mr. Bolivar was obliged to follow FINRA Rule 8210, which mandates that brokers cooperate in FINRA’s investigations. Likewise, First Allied Securities must adequately monitor the conduct of its financial advisors. If it failed to adequately supervise Bolivar or any other advisors, the firm could be responsible for financial losses.

Israels & Neuman is an investment fraud and securities arbitration law firm that has recovered millions of dollars for investors in the past, including in cases against First Allied Securities. We represent investors throughout the country, including in California.

View Bolivar, r FINRA AWC

View Bolivar, r BrokerCheck 4.18.23

If you lost money with Rene Bolivar or First Allied Securities, contact the law firm of ISRAELS & NEUMAN at (206) 795-5798 for a Free evaluation of your case.