Michael P. Dalessandro, of Colts Neck, New Jersey, a stockbroker with The Investment Center, Inc., became subject to a pending customer dispute on February 3, 2016, in which several customers alleged that Dalessandro made unsuitable recommendations to the customers. Apparently, the recommendations were made in 2013 and 2015, and involved investments in gas and oil, and high yielding securities. The customers additionally alleged negligence, breach of contract, and breach of fiduciary duty.
Public disclosure records also reveal that on September 24, 2015, Dalessandro settled a customer dispute for $82,500.00 after the customer alleged that Dalessandro engaged in unauthorized trades and excessively traded in the customer’s account.
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