Edward Muster, of Boca Raton, Florida, a stockbroker registered with Herbert J. Sims Co., is the subject of six customer initiated investment related complaints concerning his conduct while registered with securities broker dealers. On January 26, 2024, a customer filed an investment related complaint alleging the unsuitable investment recommendation of private placements. The customer sought up to $5,000,000.00 in damages. As of October 7, 2024, this case is currently pending. Financial Industry Regulatory Authority (FINRA) Arbitration No. 24-00109.
According to FINRA Public Disclosure, on December 13, 2023, another complaint was filed, alleging that investments were not in the best interest of the customer and that risks were not disclosed. The customer sought up to $500,000.00 in damages. This case is also pending before FINRA Arbitration No. 23-03482.
On September 17, 2021, a FINRA securities arbitration claim was filed alleging misrepresentation and unauthorized trading. The customer requested $1,000,000.00 in damages. On October 12, 2023, Herbert J. Sims Co. agreed to a $1,000,000.00 settlement. FINRA Arbitration No. 21-02276.
Another complaint, filed on February 5, 2021, involved a customer alleging that the stockbroker failed to monitor the customer’s account. The customer requested $15,000.00 in damages. The case was settled on November 16, 2021, for $15,000.
A different customer initiated investment related complaint filed on May 26, 2021, by a deceased customer’s son, questioned two private placements purchased by the decedent. The customer requested $50,000.00 in damages, but the case was withdrawn on September 1, 2021. On June 17, 2020, another complaint alleging unauthorized trading in bonds was filed. The transaction was canceled following the allegations. The case was closed on January 14, 2021.
Muster was associated with Herbert J. Sims Co. from May 1998 to July 2020.
