Did Joseph Stone Capital L.L.C. Broker Peter Mirenda Churn Your Investment Accounts?
Posted on Tuesday, April 27th, 2021 at 1:07 am
Erez Law is currently investigating Joseph Stone Capital L.L.C. broker Peter Mirenda (CRD# 4397656) regarding allegations of excessive trading, also known as churning. Mirenda has been registered with Joseph Stone Capital L.L.C. in New York, New York since 2013.
Churning is the practice of a broker conducting excessive trading in a client’s account, mainly to generate commissions. Churning is an unethical and illegal practice that violates SEC rules.
Mirenda has been the subject of six customer complaints between 2004 and 2020, two of which were denied, according to his CRD report. The most recent complaint is regarding:
August 2020. “Alleged violations of state and federal securities laws including alleged excessive trading.” The customer is seeking $216,000 in damages and the case is currently pending. The complaint is regarding equity OTC.
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, Joseph Stone Capital L.L.C. may be liable for investment or other losses suffered by Mirenda’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.