Joral Townsend Schmalle, of Berkeley, California, a stockbroker currently registered with Sigma Financial Corporation, has been named in a customer initiated investment related arbitration claim on June 6, 2016, in which the customers requested $1,600,000.00 in damages based upon allegations that Sigma did not reasonably supervise Schmalle’s activities and inadequately performed due diligence on the customers’ investments in tenant-in-common products.
Financial Industry Regulatory Authority (FINRA) Public Disclosure also reveals that from March 7, 2011, to August 20, 2015, Schmalle has been identified in thirty-four additional customer initiated investment related disputes containing allegations of his misconduct while employed with Sigma Financial Corporation.
Particularly, customers’ claims were based upon allegations that Schmalle made misrepresentations and omissions of facts concerning tenant-in-common investments to customers, breached his fiduciary and contractual duties, negligently managed the customer’s investment portfolios, failed to appropriately conduct due diligence on investments, and committed fraud. Thirty-one of the thirty-four customer initiated investment related disputes have been settled for a total of $6,032,237.36 in damages.
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.
To learn more about FINRA Securities Arbitration, and the legal process, please visit us at securitiesarbitrations.com
