Alan Z. Appelbaum, of Boca Raton, Florida, a stockbroker with Aegis Capital Corp., has been named in a pending customer initiated investment related arbitration claim on December 21, 2015, in which the customer has requested $50,000.00 in damages based upon allegations against Appelbaum of failing to adopt an investment strategy that was suitable for customers in light of their risk tolerance and investment objectives. The customers additionally alleged that Appelbaum effected unsuitable structured and proprietary investment transactions in the customers’ accounts.
FINRA Public Disclosure also reveals that Appelbaum has been subject to fourteen customer complaints and two regulatory actions and became subject to a customer initiated investment related arbitration claim on August 11, 2015, in which the customer requested $200,000.00 in damages based upon allegations against Appelbaum of churning the customer’s accounts, and effecting investment transactions which were unsuitable for the customer.
On August 25, 2014, Appelbaum settled a customer initiated investment related arbitration claim for $25,000.00 based upon allegations against Appelbaum of breaching his fiduciary and contractual obligations to the customer, and committing fraud and other violations of FINRA and NASD Rules in the handling of the customer’s account.
On September 16, 2009, Appelbaum was named in a customer initiated investment related arbitration claim, in which the customer requested $500,000.00 in damages based upon allegations against Appelbaum of making unsuitable investment recommendations. On March 7, 2006, Appelbaum was subject to a customer initiated investment related arbitration claim, where the customer requested $250,000.00 in damages based upon allegations against Appelbaum of charging excessive mark-ups on bond transactions.
On December 15, 2003, Appelbaum settled a customer initiated investment related arbitration claim for $42,500.00 in damages based upon allegations that Appelbaum committed negligence and improperly managed the customer’s account, and breached his fiduciary duty to the customer. On September 19, 2003, a customer was awarded $450,000.00 in damages based upon allegations that Appelbaum effected unsuitable transactions, breached his fiduciary duty to the customer, made misrepresentations to the customer concerning investments, and ultimately defrauded the customer.
On April 21, 2003, a customer lodged an investment related arbitration claim against Appelbaum, and requested $3,750.00 in damages based upon allegation that Appelbaum, as the president of his former firm, A.F. Best Securities, Inc., made investment recommendations to the customer which were not suitable. Appelbaum settled a customer initiated investment related arbitration claim for $2,500.00 in damages on August 28, 2002, based upon allegations against Appelbaum of making unsuitable investment recommendations.
On May 22, 2002, Appelbaum settled a customer initiated investment related arbitration claim for $15,000.00 in damages based upon allegations against Appelbaum of making recommendations in municipal bonds which were not suitable for the customer. Appelbaum settled a customer initiated investment related arbitration claim for $75,000.00 on October 15, 2001, based upon allegations that several municipal bonds were recommended to the customer by Appelbaum, despite the customer not being suitable for such investments.
Guiliano Law Group
Our practice is limited to the representation of investors. We accept representation on a contingent fee basis, meaning there is no cost to you unless we make a recovery for you. There is never any charge for a consultation or an evaluation of your claim. For more information, contact us at (877) SEC-ATTY.
