Can I recover losses from investments with former Coastal Equities, Inc. broker Michael Battalini (CRD# 3204878)? He was registered with World Capital Brokerage, Inc. in Sewickley, Pennsylvania, from 2022 to 2023, when he was terminated regarding, “Mr. Battalini was allowed to resign after World Capital Brokerage, Inc. received indications that the Form U-4s, filed by WCB on 12/22/22 and 02/07/23, should have contained information regarding Arbitration Docket/Case No. 22-02771, which was unknown to WCB at the time of filing.” Previously, he was registered with Coastal Equities, Inc. in Pittsburgh, Pennsylvania, from 2017 to 2022, and with Prospera Financial Services, Inc. in Pittsburgh, Pennsylvania, from 2016 to 2017.
Michael Battalini Customer Complaints
He has been the subject of two customer complaints between 2022 and 2023, according to his CRD report:
August 2023. “Claimant alleges unsuitable investments.” The customer is seeking $300,000 in damages, and the case is currently pending. The complaint was regarding alternative investments, and it took place while he was registered with Coastal Equities, Inc.
December 2022. “The claimant’s allege unsuitable investments.” The customer is seeking $433,000 in damages, and the case is currently pending. The complaint was regarding direct investments, and it took place while he was registered with Coastal Equities, Inc.
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, Coastal Equities, Inc. may be liable for investment or other losses suffered by Michael Battalini’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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