Joseph Michael Fedorko Junior of Greenwich Connecticut a stockbroker currently employed by Laidlaw Company (UK) Ltd. is the subject of a customer initiated investment related arbitration claim in which the customer sought $1,700,000.00 in damages based upon allegations of unauthorized and unsuitable trading by Fedorko causing the customer to incur losses on equities and private placements. Financial Industry Regulatory Authority (FINRA) Arbitration No. 20-01570 (May 22, 2020).
According to the claim, private placements, stocks and over-the-counter equities were traded in the customer’s account between 2012 and 2020. The claim alleges that the customer’s account was churned by Fedorko.
FINRA Public Disclosure confirms that Fedorko has been identified in 17 additional customer initiated investment related disputes regarding accusations of his misconduct while employed by securities broker dealers including Rickel Associates, South Richmond Securities Inc., Gruntal Co. LLC, Oppenheimer Co. Inc. and Laidlaw. Fedorko was ordered to pay a customer $10,000.00 in damages according to an arbitration claim in which the stockbroker was found liable on the customer’s claims of breach of fiduciary duty and omissions concerning a portfolio recommended for the customer.
Fedorko is referenced in a customer initiated investment related arbitration claim which was resolved for $490,000.00 in damages supported by allegations of common and preferred stock trades being effected on an unsuitable and excessive basis by Fedorko at Oppenheimer.
Another customer filed an investment related arbitration claim in regard to Fedorko’s activities in which the customer requested $120,000.00 in damages founded on accusations of the stockbroker’s negligence and breach of both a fiduciary duty and a contract relating to the Oppenheimer customer’s closed end funds and equities transactions. According to the claim, margin or options trades were negligent and caused the customer to sustain unwarranted investment losses.
Fedorko is also the subject of a customer initiated investment related arbitration claim which was settled for $120,000.00 in damages based upon allegations of breach of contract and breach of fiduciary duty by Fedorko concerning corporate debt trades for the Laidlaw customer’s account. According to the claim, the stockbroker engaged in negligent investment activities at Laidlaw. Another customer initiated investment related complaint involving Fedorko’s conduct was resolved for $120,000.00 in damages supported by accusations of an unsuitable investment strategy by Fedorko.
On December 28, 2016, a customer initiated investment related arbitration claim involving Fedorko’s conduct was settled for $23,000.00 in damages founded on allegations of losses being incurred in the Laidlaw customer’s account because of unsuitable oil and gas securities transactions. FINRA Arbitration No. 16-02166.
On July 30, 2020, another customer initiated investment related arbitration claim regarding Fedorko’s conduct was resolved for $125,000.00 in damages based upon accusations of the stockbroker making bad over-the-counter equities and stock trades for the Laidlaw customer’s account between 2012 and 2017. FINRA Arbitration No. 18-01736. The claim alleges that the customer’s account had been churned by the stockbroker and that transactions lacked the customer’s knowledge or consent.
