Leonard Neil Rich (also known as Lenny Rich), of New York, a stockbroker registered with Joseph Gunnar Co. LLC, is the subject of a customer initiated investment related complaint filed on November 21, 2023, in which the customer requested $114,500.00 in damages based upon allegations that Rich engaged in excessive trading in the customer’s account when Rich was associated with Joseph Gunnar Co. LLC.
Financial Industry Regulatory Authority (FINRA) Public Disclosure shows that Rich is referenced in five other customer initiated investment related disputes concerning Rich’s conduct while associated with securities broker dealers. A customer initiated investment related NYSE securities arbitration claim involving Rich’s conduct resulted in the customer being awarded $5,734.65 in compensatory damages because Rich and Advest were held liable on the customer’s claims which included that Rich engaged in unauthorized trading. Arbitration No. 1991-001589.
Another customer initiated investment related complaint involving Rich’s conduct was settled for $12,942.64 in damages based upon allegations that Rich conducted unauthorized trading in the customer’s account and that the customer did not understand the options trades in his account.
A different securities arbitration claim involving Rich’s conduct was settled to resolve allegations that Rich engaged in churning and unauthorized trading, made unsuitable recommendations, and that the securities broker dealer failed to supervise certain representatives in connection with the sale of securities. NASD Arbitration No. 96-03637.
On October 23, 2009, a customer complaint involving Rich’s conduct was settled for $19,500.00 in damages. The claim alleged poor performance on over-the-counter equities held in the customer’s account while Rich was associated with Joseph Gunnar Co. LLC.
Rich was also referenced in a customer initiated investment related FINRA securities arbitration claim that was settled for $350,000.00 in damages on June 13, 2014. The claim alleged excessive, unauthorized, and unsuitable trading in stocks, over-the-counter equities, and options while Rich was associated with Joseph Gunnar Co. LLC. FINRA Arbitration No. 12-03884.
Rich has been associated with Joseph Gunnar Co. LLC in Uniondale, New York since February 24, 2003.
