Former Legend Securities, Inc. Broker Nicholas Schiano Investment Losses
Posted on Wednesday, October 30th, 2019 at 9:19 am
Erez Law is interested in speaking with investors who may have suffered losses due to investments with former Legend Securities, Inc. broker Nicholas Schiano (CRD# 4429212). Schiano has been registered with Spartan Capital Securities, LLC in New York, New York since 2017. Previously, Schiano was registered with Worden Capital Management LLC in New York, New York from 2016 to 2017 and prior to that Legend Securities, Inc. in New York, New York from 2013 to 2016.
Schiano has been the subject of two customer complaints between 2017 and 2019, according to his CRD report:
April 2019. “Allegations of misrepresentation, negligence, breach of fiduciary duty.” The customer is seeking $208,000 in damages and the case is currently pending. This case was regarding common and preferred stocks while Schiano was registered with Legend Securities, Inc.
August 2017. “Unsuitable Transactions.” The customer sought $128,541 in damages and the case was settled for $35,000. This case was regarding equity OTC and common and preferred stocks while Schiano was registered with Legend Securities, 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, Legend Securities, Inc. may be liable for investment or other losses suffered by Schiano’s customers.
Erez Law represents investors in the United States for claims against brokers and brokerage firms for wrongdoing. If 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.