Securities Arbitration Investment Fraud Lawyers » Misappropriation of Funds » Securities Arbitration Claim Filed Against Aegis Capital For Unsuitable Recommendations

Johnny Guan, of Red Bank, New Jersey, a stockbroker currently registered with Aegis Capital Corp, is the subject of a customer initiated investment related FINRA securities arbitration claim where the customer requested $125,820.12 in damages supported by accusations that between December of 2012 and November of 2020, Guan provided unsuitable investment recommendations to the customer at Aegis Capital Corp. Financial Industry Regulatory Authority (FINRA) Arbitration No. 21-01073 (April 26, 2021).

FINRA Public Disclosure shows that Guan has been identified in three more customer initiated investment related disputes concerning allegations of his wrongdoing during the period that he was registered with Aegis Capital Corp, Newbridge Securities Corp, and National Securities Corp.

On August 3, 2016, a customer initiated investment related arbitration claim concerning Guan’s conduct was resolved for $7,799.00 in damages founded on accusations of misrepresentation and unsuitable recommendations of penny stocks and options by Guan when he was employed by National Securities Corp and Newbridge Securities Corp. FINRA Arbitration No. 16-01004. The claim also alleges that the securities broker dealers failed to supervise and that Guan’s negligence resulted in damages to the customer.

Guan is also referenced in a customer initiated investment related arbitration claim that was settled for $5,400.00 in damages based upon allegations of the customer being placed in unsuitable real estate security products by Guan at Aegis Capital Corp and National Securities Corp. FINRA Arbitration No. 19-03326 (March 19, 2020). According to the claim, the customer’s account was overconcentrated in the investments. The claim also contains accusations of unauthorized transactions and breach of fiduciary duty by the stockbroker.

On August 25, 2021, a different customer filed an investment related arbitration claim regarding Guan’s activities in which the customer sought compensatory damages supported by allegations including excessive trading by Guan at National Securities Corp.

Guan has been registered with Aegis Capital Corp since October 14, 2016.