Securities Arbitration Investment Fraud Lawyers » Investment and Regulatory News » Investors Settle FINRA Arbitration Claim Against Aegis Capital For Unsuitable Recommendations

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James J. Mariani of Mineola, New York, a stockbroker registered with Aegis Capital Corp., was the subject of a customer initiated investment related FINRA securities arbitration claim that was settled for $50,000.00 in damages based upon allegations that Mariani made unsuitable recommendations, engaged in excessive and unauthorized trading, breached his fiduciary duties, was negligent, and made misrepresentations and omissions of material fact in connection with the sale of stocks when Mariani was associated with Aegis Capital Corp. Financial Industry Regulatory Authority (FINRA) Arbitration No. 22-00471 (September 20, 2022).

FINRA Public Disclosure shows that Mariani is referenced in ten other customer initiated investment related disputes concerning Mariani’s conduct while associated with securities broker dealers, including Josephthal Co. Inc. and National Securities Corporation. On November 1, 2004, a NASD securities arbitration claim involving Mariani’s conduct was settled for $36,000.00 in damages based upon allegations that Mariani churned the customer’s account, inappropriately used margin, and engaged in the unauthorized trading of mutual funds and equities when Mariani was associated with Josephthal Co. Inc. NASD Arbitration No. 03-03335.

Mariani was also referenced in a FINRA securities arbitration claim that was settled for $135,000.00 in damages based upon allegations that Mariani breached his fiduciary duties, was negligent, and made unsuitable recommendations of alternative investments during the time that Mariani was associated with National Securities Corporation. FINRA Arbitration No. 18-01146 (June 3, 2019).

On April 13, 2020, a FINRA securities arbitration claim involving Mariani’s conduct was settled for $67,500.00 in damages based upon allegations that Mariani made unsuitable recommendations and breached his fiduciary duties in connection with the sale of real estate securities. FINRA Arbitration No. 18-04200. Mariani is referenced in a different FINRA securities arbitration claim in which the customer requested $291,100.00 in damages based upon allegations that Mariani made unsuitable recommendations of real estate securities. FINRA Arbitration No. 21-02433 (September 24, 2021).

On March 24, 2022, another customer filed an investment related FINRA securities arbitration claim involving Mariani’s conduct in which the customer requested $170,000.00 in damages based upon alleged unsuitable advice by the stockbroker at National Securities Corporation. FINRA Arbitration No. 22-00620.

Mariani was also referenced in a FINRA securities arbitration claim that was settled for $200,000.00 in damages based upon allegations that Mariani made unsuitable recommendations of private placements (PIPES) to the National Securities Corporation customer. FINRA Arbitration No. 21-02241 (September 2, 2022).

Mariani was associated with National Securities Corporation in Mineola, NY, as a stockbroker from January of 2007 to September of 2017, and was associated with Aegis Capital Corp. in Mineola, NY, as a stockbroker from September of 2017 to September of 2021.