10.0David P Neuman
(720) 599-3505

WARNING! Impending Investigation: CANTOR FITZGERALD & CO. and MICROCAP STOCKS

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24
Dec

WARNING! Impending Investigation: CANTOR FITZGERALD & CO. and MICROCAP STOCKS

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WARNING!  Impending Investigation:  CANTOR FITZGERALD & CO. and MICROCAP STOCKS

Cantor Fitzgerald & Co. and Microcap Stocks

 

We are currently investigating allegations made against Cantor Fitzgerald & Co., a New York City-based securities brokerage firm.  FINRA (the Financial Industry Regulatory Authority) brought a regulatory action against Cantor Fitzgerald, alleging that it failed to reasonably supervise the sales of microcap stocks, among several other allegations.  To settle all of these allegations, Cantor Fitzgerald agreed to pay a $6,000,000 fine and disgorged $1.2 million in commissions.

 

Microcap Stocks generally are equity investments in thinly capitalized companies, often start-up companies.  Between March 2011 and September 2012, Cantor Fitzgerald failed to adequately supervise the sales of 73.6 billion shares of microcap stocks without conducting adequate due diligence before selling them.  Some of the stocks were unregistered.  FINRA alleged that Cantor Fitzgerald failed to identify red flags of potential misconduct.

 

FINRA also brought the complaint against Jarred Kessler and Joseph Ludovico of Cantor Fitzgerald.  Kessler agreed to a three month suspension and a $30,000 fine.  Ludovico agreed to a two month suspension and $25,000 fine.

 

Israels & Neuman PLC is a securities and investment fraud law firm with offices in Denver, Colorado and the Seattle area.  We represent investors in FINRA arbitration proceedings in all 50 states, including in New York and throughout the Northeast.  Our attorneys have represented over one thousand investors against many brokerage firms in the past, including LPL Financial, Merrill Lynch, Morgan Stanley, Smith Barney, Stifel Nicolaus & Company, UBS Financial Services, Oppenheimer, Charles Schwab, Wells Fargo Advisors, Ameriprise Financial Services, Raymond James Financial Services, ProEquities, Securities America, National Securities Corp., and many others.

 

Click to view:  Cantor FINRA AWC

 

HAVE YOU LOST MONEY IN MICROCAP STOCKS or with CANTOR FITZGERALD & CO.?   

              CONTACT ISRAELS & NEUMAN, PLC FOR A FREE CASE EVALUATION

                Denver Office: (720) 599-3505

                Seattle Office: (206) 795-5798

 

 

Israels & Neuman, PLC is a private law firm and is not affiliated with any government or law enforcement agency. Any investigation referenced in this blog is independent in nature and is being conducted by our law firm privately, not in conjunction with any government or law enforcement agency. All information contained in this blog should be deemed statements of opinion derived from the author’s review of public records, not statements of fact. This blog is advertising material and does not create an attorney client relationship, nor does it constitute legal advice. Everyone’s situation is different and the question of whether or not you have a claim will vary on a case-by-case basis. In contingent representation, clients may still be liable for costs.
10.0David P Neuman

FREE CASE EVALUATION

DENVER: (720) 599-3505

SEATTLE: (206) 795-5798


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