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Broker Michael Rosalia Subject Of Multiple Judgments, Tax Liens

Michael Richard Rosalia (CRD #2323953) is a FINRA broker currently registered with Worden Capital Management LLC (CRD #148366) of Melville, NY. He has been with Worden since 12/2/2015. Rosalia’s previous employers include Rockwell Global Capital LLC (CRD #142485), also of Melville, American Capital Partners, LLC (CRD #119249) of Hauppage, NY, and Ladenburg, Thalmann & Co., Inc. (CRD #505) of New York City. He has been in the industry since 1993.

William-Slone’s-45-year-Career-Shows-14-FINRA-Disclosure-Events-300x219Rosalia’s FINRA record contains 16 disclosures. The most recent was a customer dispute involving a client and the client’s children, with allegations of churning, improper use of margin, unsuitability and high commissions. The children contacted the firm, claiming to represent the customer. But without a power of attorney, or the presence of the client, neither Rosalia nor anyone else the firm could or would speak with them. Eventually, the client and his children had a conference with the firm’s CEO and attorney. The client and children sought damages of $503,828.39; the firm settled for $150,000 to avoid litigation and other related expenses.

Two of Rosalia’s disclosures are bankruptcy dismissals from 2013. Eight of the disclosures from 2009 through 2011 are tax lien judgments totaling $219,663.17. Rosalia’s comment in two of these cases indicated he assumed that they had been already reported on his U4.

Previous disclosures include a case filed on 3/19/2009, alleging unsuitability, failure to execute trades and unauthorized trading (but no specific transactions are listed.) The client requested damages of $3,722,000.00. While ACP (Rosalia’s employer at the time) found the case to be without merit, the firm settled the claim for $900,000, to avoid the possibility of litigation.

Have You Invested Money With Michael Rosalia?

Silver Law Group represents investors in securities and investment fraud cases. Our lawyers are admitted to practice in New York and Florida and represent investors nationwide to help recover investment losses due to stockbroker misconduct.  Most cases handled on a contingent fee basis. This means that you won’t any pay legal fees unless we are successful. Call us toll free at 800-975-4345, or use our online contact form to get in touch.

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