Mack L. Miller
Silver Law Group is investigating New York, New York-based Spartan Capital Securities Broker Mack L. Miller after multiple clients filed FINRA complaints alleging misrepresentation and excessive trading in client accounts.
According to FINRA’s BrokerCheck report on Miller, a FINRA complaint alleging misrepresentation and excessive trading during Miller’s time at Dawson James Securities was filed in April of 2017. The complainant alleged damages of $20,000
Miller was employed by Dawson James Securities at their NY, NY location from 2016 to 2017. Previously he was employed by Lampert Capital Markets from 2015 to 2016.
Excessive trading and misrepresentation are both serious forms of broker misconduct. A broker’s employing firm is responsible for overseeing the broker to prevent such misconduct. Failure to supervise is a claim made against a brokerage firm in these situations.
Often, misrepresentation is accompanied by churning. Churning occurs when the account frequently trades for no apparent reason but to generate fees and commissions.
The misrepresentation or omission of material facts concerning investment recommendations by a brokerage firm and its representatives may be a cause of action in a FINRA arbitration claim for damages. There are two types of misrepresentations and omissions; those that are fraudulent and those that are negligent.
Misrepresentations often occur during the offering process or prior to investing in a particular product. Misrepresentation can vary in appearance and, if made intentionally, are often times made in order to induce an unwitting investor to invest. An example of a misrepresentation can include promises of high dividends or that the company of the underlying investment will go public in a year.
If proven, an intentional misrepresentation can have serious consequences, as it is a violation of Rule 10b-5 of the Securities Exchange Act of 1934.
FINRA arbitration is a fast, efficient way to recover your lost investment funds due to misrepresentation or excessive trading. The Silver Law Group works on a contingency fee basis, meaning you pay us nothing unless we recover money for you.
If you invested with Mack L. Miller and Spartan Capital Securities or Dawson James Securities and have lost money doing so, you may be able to recover some or all of your losses. We are experienced in recovering investor losses due to broker/brokerage firm misconduct and mismanagement through FINRA arbitration.
Silver Law Group represents the interests of investors who have been the victims of investment fraud. If you have questions about your legal rights, please contact Scott Silver of the Silver Law Group for a free consultation at firstname.lastname@example.org or toll-free at (800) 975-4345.