Unsuitable Investment Recommendations with Former Spartan Capital Securities, LLC Broker Patrick Cavanagh

Spartan Capital Securities

Erez Law is currently investigating former Spartan Capital Securities, LLC broker Patrick Cavanagh (CRD# 5186630) regarding unsuitable investment recommendations. He was registered with Spartan Capital Securities, LLC in New York, New York from 2019 to 2022. Previously, he was registered with:

  • National Securities Corporation in Jersey City, New Jersey from January to July 2018
  • Phx Financial, Inc. in New York, New York from 2016 to 2017
  • National Securities Corporation in Edison, New Jersey from February to October 2016
  • Spartan Capital Securities, LLC in New York, New York from 2013 to 2016
  • John Thomas Financial in New York, New York from 2012 to 2013

Patrick Cavanagh Customer Complaints

He has been the subject of one customer complaint, according to his CRD report:

December 2021. “Time Frame: February 2013 through to Present. Alleged Allegations: Churning, Unsuitability, Breach of Fiduciary Contract, Misrepresentation, Unauthorized Trading, Failure to Supervise.” The customer is seeking $349,767.21 in damages and the case is currently pending. The complaint took place while he was registered with Spartan Capital Management LLC and was regarding common and preferred stocks and private placements. 

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, Spartan Capital Securities, LLC may be liable for investment or other losses suffered by Patrick Cavanagh’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.