Have You Suffered Losses Due to Former Laidlaw & Company (Uk) Ltd. Financial Advisor Robert Rotunno?
Posted on Wednesday, September 27th, 2017 at 1:22 pm
Erez Law is currently investigating former Laidlaw & Company (Uk) Ltd. financial advisor Robert Rotunno (CRD# 4025263) regarding unsuitability, excessive trading and churning in customer accounts. Rotunno has been registered with National Securities Corporation in New York, New York since January 2016. Previously, he was registered with Laidlaw & Company (Uk) Ltd. in New York, New York from 2004 to 2016.
Rotunno has been the subject of eight customer complaints between 2008 and 2017, according to his CRD report:
May 2017. “Client alleges unsuitability and over concentration from 2007 to 2010.” The customer is seeking $323,000 in damages and the case is currently pending.
April 2017. “The client alleges unsuitability and excessive trading from 2010 to 2015.” The customer is seeking $572,000 in damages and the case is currently pending.
July 2016. “Client alleges churning and unsuitability from January 2010 to December 2015.” The customer sought $80,000 in damages and the case was settled for $20,000.
January 2014. “The client alleges the representative made unsuitable recommendations from 2006 to 2012.” The customer sought $800,000 in damages and the case was settled for $325,000.
September 2013. “The client asserts legal claims for violations of finra rules and industry standards, churning, breach of fiduciary duty, negligent misrepresentation, and breach of contract for activity from 2008. The firm denies these claims. The matter was settled to avoid protracted litigation and associated costs. It should also be noted that the client sustained losses for the trades that he authorized in 2008. The representative continues to deny any wrongdoing.” The customer sought $100,000 in damages and the case was settled for $39,000.
January 2012. “Misrepresentation and omission, unsuitability, breach of fiduciary duty, breach of contract.” The customer sought $308,000 in damages and the case was settled for $65,000.
August 2008. “[customer] made allegations of commissions and fee activities in his account at Laidlaw & Company (UK) Ltd.” The case was settled for $80,000.
April 2008. “Client through counsel has made allegations of unauthorized trading, unauthorized use of margin and unsuitability.” The customer sought $59,500 in damages and the case was settled for $22,500.
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, Laidlaw & Company (Uk) Ltd. may be liable for investment or other losses suffered by Rotunno’s customers.
Erez Law represents investors in the United States for claims against former Laidlaw & Company (Uk) Ltd. financial advisor Robert Rotunno, regarding unsuitability, excessive trading and churning in customer accounts. If you were a client of Laidlaw & Company (Uk) Ltd. 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.