Former Citigroup Global Markets Inc. broker Michael Persinski (CRD# 1478332) is accused of stock losses.
He has been registered with Merrill Lynch, Pierce, Fenner & Smith Incorporated in Coral Gables, Florida, since 2022. Previously, he was registered with Citi Private Advisory, LLC in Miami, Florida, from 2017 to 2022, and with Citigroup Global Markets Inc. in Miami, Florida, from 2007 to 2022.
Michael Persinski Customer Complaints
He has been the subject of one customer complaint, according to his CRD report:
August 2023. “Claimants allege breach of fiduciary duty, negligence, fraud, breach of contract, third party beneficiary breach of contract, violation of Regulation BI, and negligent supervision related to alleged failure to provide advice on a concentrated position and alleged recommendation to use a line of credit to further concentrate their assets.” The customer is seeking $56,000,000 in damages, and the case is currently pending. The complaint was regarding common and preferred stocks. The complaint took place while he was registered with Citigroup Global Markets 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, Citigroup Global Markets Inc. may be liable for investment or other losses suffered by Michael Persinski’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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