Michael Lavolpe, of New York, New York, a stockbroker for Meyers Associates, L.P., is currently subject to four pending customer disputes. Particularly, on April 7, 2016, a customer lodged a dispute against Lavolpe, requesting $110,480.00 in damages in connection with allegations of unsuitability.
On April 7, 2016, Lavolpe became subject to another customer dispute, in which the customer requested $545,000.00 in damages in connection with allegations against Lavolpe of committing negligence and selecting unsuitable investments in the customer’s account. Lavolpe disclosed a third customer dispute on April 7, 2016, in which the customer requested $308,703.00 in damages in connection with alleging that unsuitable investments were selected in the customer’s account. Lavolpe is also subject to a customer dispute from October 21, 2015, in which the customer has requested $143,000.00 in damages amid allegations against Lavolpe of making unsuitable investment recommendations.
Public Disclosure records reveal that on May 15, 2015, Lavolpe settled a customer dispute for $60,000.00 after the customer alleged that Lavolpe selected unsuitable investments for the customer. On September 13, 2010, Lavolpe settled a customer dispute for $60,000.00 after he was alleged by customers to have churned customer accounts, committed negligence, failed to supervise, and breached his fiduciary duty to the customers.
On July 13, 2016, Lavolpe was named in a Complaint by Financial Industry Regulatory Authority (FINRA) Department of Enforcement, in which he was alleged to have failed to cooperate with FINRA in their investigation into allegations against Lavolpe of making unsuitable investment recommendations in a firm customer’s account. Department of Enforcement v. Lavolpe, No. 2015047559201 (July 13, 2016).
The Complaint stated that on December 9, 2015, FINRA submitted a request to Lavolpe that he provide information and documentation in connection with the allegations, per FINRA Rule 8210. Lavolpe reportedly failed to respond to FINRA’s first request. The Complaint further stated that FINRA submitted another request to Lavolpe on March 10, 2016, which Lavolpe never responded to. FINRA alleged in the Complaint that Lavolpe’s failure to cooperate was violative of FINRA Rules 2010 and 8210.
Guiliano Law Group
Our practice is limited to the representation of investors. We accept representation on a contingent fee basis, meaning there is no cost to you unless we make a recovery for you. There is never any charge for a consultation or an evaluation of your claim. For more information, contact us at (877) SEC-ATTY.
