Did you lose money investing with former Pinnacle Investments, LLC broker William Friedman (CRD# 2475502)? He was registered with Pinnacle Investments, LLC in Boca Raton, Florida, from January to October 2020, Woodstock Financial Group, Inc. in Boca Raton, Florida, from 2017 to 2019, and Newbridge Securities Corporation in Boca Raton, Florida, from 2007 to 2017.
In July 2021, FINRA barred him after he “failed to respond to FINRA request for information.”
In October 2021, FINRA indefinitely suspended him after he “failed to comply with an arbitration award or settlement agreement or to satisfactorily respond to a FINRA request to provide information concerning the status of compliance.”
William Friedman Customer Complaints
He has been the subject of five customer complaints between 2004 and 2023, one of which was denied, according to his CRD report. The most recent complaints were regarding:
February 2023. “Unsuitability, Common Law Fraud, Breach of Fiduciary Duty, Negligent Supervision, Breach of Contract.” The case was settled for $250,000. The complaint was regarding speculative securities, and it took place while he was registered with Newbridge Securities Corporation.
March 2021. “Unsuitable recommendations, misrepresentations, negligence/breach of fiduciary duty, unauthorized trading, and failure to supervise.” The customer sought $700,000 in damages, and the case was settled for $50,000. The complaint was regarding common and preferred stocks, and it took place while he was registered with Newbridge Securities Corporation, Woodstock Financial Group, Inc., and Pinnacle Investments, LLC.
February 2021. “Friedman was named in a customer complaint that asserted the following causes of action: elder abuse; unjust enrichment; investments in unsuitable securities; excessive trading; unauthorized trading; misrepresentation and material omissions of fact; breach of fiduciary duty; breach of contract; securities and common law fraud; negligence; and violations of other federal and state securities laws and financial industry rules and regulations.” The customer is seeking $250,000 in damages, and the case is currently pending. The complaint took place while he was registered with Pinnacle Investments, LLC.
Pursuant to FINRA Rules, member firms are responsible for supervising a broker’s activities during the time the broker is registered with the firm. Therefore, Pinnacle Investments, LLC may be liable for investment or other losses suffered by William Friedman’s customers.
Erez Law represents investors in the United States for claims against brokers and brokerage firms for wrongdoing. If you have experienced investment losses, please call us at 888-840-1571 or complete our contact form for a free consultation. Erez Law is a nationally recognized law firm representing individuals, trusts, corporations and institutions in claims against brokerage firms, banks and insurance companies on a contingency fee basis.
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