Michael Philip Capolongo, of Garden City, New York, a stockbroker formerly registered with Worden Capital Management, is referenced in a customer initiated investment related FINRA securities arbitration claim where the customer requested $330,113.00 in damages based on allegations that Capolongo breached a fiduciary duty regarding common and preferred stock transactions during the period that he was employed by Worden Capital Management. FINRA Arbitration No. 21-01716 (July 13, 2021).
According to the claim, between 2016 and 2020, Capolongo executed excessive and unauthorized trades in the customer’s account at Worden Capital Management. The claim also contains accusations of churning, breach of fiduciary duty, and unauthorized trading by the stockbroker.
Capolongo has been identified in two additional customer initiated investment related disputes concerning allegations of his misconduct while he was employed by Laidlaw Company. FINRA Public Disclosure shows that a customer initiated investment related FINRA securities arbitration claim regarding Capolongo’s activities was resolved for $46,000.00 in damages founded on accusations of Capolongo’s unsuitable trading of over-the-counter equities at Laidlaw Company. According to the claim, Capolongo churned the customer’s account.
Capolongo is also the subject of a customer initiated investment related FINRA securities arbitration claim which was settled for $28,500.00 in damages supported by allegations including churning of the customer’s account and unsuitable stock transactions by Capolongo when he was registered with Laidlaw Company.
Capolongo’s registration with Laidlaw Company was terminated on June 6, 2019. He was associated with Worden Capital Management between May 30, 2019, and September 17, 2020, and has been associated with Network 1 Financial Securities Inc. since September 17, 2020.
