Erez Law is currently investigating former Meyers Associates, L.P. financial advisor Michael Lavolpe (CRD# 5054798) regarding unsuitable investments. Lavolpe was registered with Meyers Associates, L.P. in New York, New York from 2006 to 2014.
In June 2017, FINRA suspended Lavolpe 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.
In January 2017, “Lavolpe was named a respondent in a FINRA complaint alleging that he failed to respond to requests for documents and information sent by FINRA after it began an examination of Lavolpe in connection with, inter alia, Lavolpe’s allegedly unsuitable activity in a customer’s account.” Lavolpe was barred from association with any FINRA member in any capacity.
Lavolpe has been the subject of six customer complaints between 2010 and 2016, according to his CRD report:
- April 2016. “Unsuitable investments.” The customer is seeking $110,480 in damages and the case is currently pending.
- April 2016. “Unsuitable investment, negligence.” The customer is seeking $545,000 in damages and the case is currently pending.
- April 2016. “Unsuitable investment.” The customer is seeking $308,703 in damages and the case is currently pending.
- October 2015. “Unsuitable investments.” The customer is seeking $143,000 in damages and the case is currently pending.
- May 2015. “Breach of fiduciary duty, omission of facts, and negligence.” The case was settled for $300,000.
- September 2010. “Clients are claiming breach of fiduciary duty, churning, failure to supervise and negligenceuring (sp) the period from September 2009 through May 2010.” The customer sought $296,000 in damages and the case was settled for $60,000.
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, Meyers Associates, L.P. may be liable for investment or other losses suffered by Lavolpe’s customers.
Erez Law represents investors in the United States for claims against former Meyers Associates, L.P. financial advisor Michael Lavolpe, who is alleged to recommend unsuitable investments to his clients. If you were a client of Meyers Associates, L.P. or another firm, and 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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