Gregory Dean, of Garden City, New York, a stockbroker with Worden Capital Management LLC, is currently subject to four pending customer disputes. Particularly, on June 20, 2016, Dean became subject to a pending customer dispute in which the customer has requested $138,032.66 amid allegations against Dean of fraud, negligence, breach of fiduciary duty, breach of contract, misrepresentations, churning, negligent account management, and selection of unsuitable investments in the customer’s account.
On June 6, 2016, Dean became subject to a pending customer dispute, in which the customer requested $133,434.00 after alleging failure to supervise, fraud in violation of Securities Exchange Act of 1934 Section 10(b) and SEC Rule 10b-5, excessive trading in the customer’s account, churning, and unsuitable investment selections.
On April 2, 2015, Dean became subject to a pending customer dispute, in which the customer requested $125,956.33 after asserting allegations against Dean of breach of fiduciary duty, overconcentration of assets in the customer’s investment account, abuse of commissions or mark-ups, negligent supervision, churning, and unsuitable investment recommendations. The same day, Dean became subject to another customer dispute, in which the customer has requested $419,371.46 in damages after alleging breach of fiduciary duty, negligent supervision, unsuitability, churning, and charging of excessive commission.
Prior to these pending customer disputes, Dean settled another four customer disputes. Particularly, on November 12, 2013, Dean settled a customer dispute for $8,250.00 after the customer alleged that Dean did not follow the customer’s instructions concerning a stop loss order. On October 24, 2014, Dean settled a customer dispute for $350,000.00 amid allegations against Dean of negligence, overconcentration of the customer’s assets, unsuitability, and churned the customer’s investments.
On December 4, 2014, Dean settled a customer dispute for $42,500.00 after the customer alleged that investments purchased due to Dean’s recommendations had performed poorly. Additionally, on January 20, 2015, Dean settled a customer dispute for $200,000.00 amid allegations against Dean of excessive churning of the customer’s account, and effecting of trades that were not suitable for the customer.
As recently as July 15, 2016, The United States Securities And Exchange Commission announced through a Wells Notice that a preliminary determination was made in order to take action against Dean in connection with allegations that Dean violated Securities Act of 1933 Section 17(a), as well as Securities Exchange Act of 1934 Section 10(b) and SEC Rule 10b-5.
Guiliano Law Group
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