Stuart Updegrove (CRD # 2273334) is the subject of a pending customer dispute alleging $600,000 in damages. Updegrove has been with the South Norwalk, Connecticut office of National Securities Corporation since 2009.
In the pending dispute, the Claimant alleges that Updegrove provided unsuitable recommendations and breached his fiduciary duty in relation to the sale of penny stocks and private placements to the Claimant. In another settled dispute from 1998, the Claimant alleged that Updegrove engaged in unauthorized trading and churning; the dispute ended in a settlement of $60,000.
FINRA requires its members to “have a reasonable basis to believe that a recommended transaction or investment strategy” is suitable for a customer given their individual needs. FINRA also requires that its members refrain from engaging in fraudulent or deceptive practices with their customers.
Contact Our Firm if You’ve Invested with Stuart Updegrove
If you invested with Stuart Updegrove and believe you have lost money due to his misconduct, you may be able to file a claim to recover your losses through FINRA arbitration. For a free evaluation of your potential case by a securities attorney, please contact Silver Law Group.
Silver Law Group is a nationally-recognized securities law firm headquartered in South Florida representing investors worldwide with their claims for losses due to securities and investment fraud. The firm has successfully recovered multi-million dollar awards for its clients through securities arbitration and the courts. To contact Scott L. Silver to discuss your legal matter, call toll-free (800) 975-4345 or e-mail him at SSilver@silverlaw.com.