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WORDEN CAPITAL Ordered to Pay $1.24 Million Back to Customers

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07
Jan

WORDEN CAPITAL Ordered to Pay $1.24 Million Back to Customers

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WORDEN CAPITAL Ordered to Pay $1.24 Million Back to Customers

Worden Capital Management Settles with FINRA for Over $1.5 Million Regarding Supervisory Failures

We are currently investigating allegations made against Worden Capital Management, a New York, New York-based securities brokerage firm.  FINRA (the Financial Industry Regulatory Authority) brought a regulatory action against Worden, making allegations that it failed to adequately supervise customer accounts for excessive trading or churning. 

FINRA also alleged that Worden Capital Management interfered with customer requests to transfer their accounts to another broker-dealer, and that it failed to timely disclose customer complaints on brokers’ Form U4s and U5s. To settle these allegations, Worden agreed to pay a $350,000 fine and restitution of $1.24 million in commissions to customers.  Jamie Worden, one of the owners and founders of Worden Capital Management, was also fined $15,000 and suspended for three months in a principal capacity regarding the excessive trading or churning.

Israels & Neuman PLC is a securities and investment fraud law firm with offices in Denver, Colorado; Seattle, Washington; Ann Arbor, Michigan; and Phoenix, Arizona.  We represent investors in FINRA arbitration proceedings in all 50 states.  Our attorneys have represented over one thousand investors against many brokerage firms in the past. 

If you lost money with Worden Capital Management, please CONTACT US at 720-599-3505 for a free evaluation of your case.

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

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