Kovack Securities

Silver Law Group Wins Securities Arbitration Award Against Former Naples, Florida-based Kovack Securities Broker Curtis D. Milakovich

July 24, 2018 | Silver Law Group

Silver Law Group attorneys have won an award against Curtis D. Milakovich, formerly of Kovack Securities Inc. on behalf of our clients through FINRA arbitration.

FINRA Awards Our Clients Damages Due to Curtis D. Milakovich’s Misconduct

FINRA-300x202 On December 22, 2017, the Financial Industry Regulatory Authority (“FINRA”) awarded our clients $164,000 due to Milakovich’s misconduct, including unsuitable recommendations, unauthorized trading, negligence, breach of fiduciary duty, and churning.

FINRA Bars Former Kovack Broker For Allegedly Naming Himself as Inheritor of 91-year-old Customer’s Condo

May 25, 2017 | Silver Law Group

FINRA has barred Fort Lauderdale, Florida-based broker Douglas W. Studer (CRD# 4440047) for refusing to testify on the record in a FINRA-led investigation into whether Studer violated his employing firm’s policy by being named in an elderly customer’s estate documents to inherit the customer’s waterfront condominium.

Studer was employed by Kovack Securities Inc. (CRD# 44848) until Kovack terminated him in July 2016, according to the Acceptance, Waiver and Consent (“AWC”) entered into between Studer and FINRA.

According to the AWC, FINRA began investigating Studer on August 2, 2016. Studer was asked to record testimony, but he refused to appear. Allegedly, Studer appeared on his 91-year-old customer’s estate documents and was to inherit the elderly customer’s waterfront condominium.

Former Kovack Securities Broker Curtis Milakovich Barred by FINRA

June 16, 2015 | Silver Law Group

Curtis Milakovich was permanently barred by FINRA for association with any FINRA member in any manner for failing to respond to FINRA’s request for information. Milakovich worked at Kovack Securities from May 2011 until November 2013, when he resigned after Kovack received an inquiry from one of Milakovich’s clients about the nature and volume of the trading activity in her account and commissions charged. Kovack believed that the inquiry might evolve into a complaint and was considering setting aside a portion of Milakovich’s commissions to cover any potential claim from the client. There is 2013 complaint on Milakovich’s CRD that was settled in 2014 for $55,000, a portion of which Milakovich is responsible for paying. This complaint alleges unsuitable transactions and unauthorized and excessive trading.

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. If you have any questions about how your account has been handled, call to speak with an experienced securities attorney. Most cases handled on a contingent fee basis meaning that you do not pay legal fees unless we are successful.