Michael Patrick McMahon of Garden City New York a stockbroker formerly registered with National Securities Corporation is referenced in a customer initiated investment related arbitration claim in which the customer requested $280,000.00 in damages founded on accusations that (1) improper or misleading statements had been made concerning investments (2) the customer’s account was handled in a negligent manner (3) contractual obligations were violated and (4) fiduciary duties owed to the customer had been breached. Financial Industry Regulatory Authority (FINRA) Arbitration No. 18-02616 (Aug. 3, 2018).
FINRA Public Disclosure reveals that McMahon has been identified in sixteen more customer initiated investment related disputes containing allegations of his violative conduct while employed with National Securities Corp and Woodstock Financial Corp. Specifically, a customer initiated investment related complaint concerning McMahon’s activities was resolved for $30,000.00 in damages based upon accusations that unauthorized trades were executed in the customer’s account, and the investment account was churned while McMahon was associated with Woodstock Financial Corp.
Another customer filed an investment related complaint regarding McMahon’s activities where the customer sought $95,000.00 in damages supported by allegations that when McMahon was employed by Woodstock Financial Corp, the customer was placed into an investment strategy that failed to align with the customer’s best interests or goals; and over-the-counter equities had been churned. On September 9, 2015, a customer initiated investment related arbitration claim involving McMahon’s conduct was settled for $262,500.00 in damages founded on accusations of breach of fiduciary duty, negligence, churning and unsuitability relating to McMahon’s over-the-counter equities trading when he was associated with National Securities Corp.
McMahon is the subject of a customer initiated investment related arbitration claim which was resolved on September 26, 2016 for $65,000.00 in damages based upon allegations of fiduciary obligations being violated; poor handling of investment transactions; misrepresentations which induced the customer to effect investment transactions; unauthorized trading of over-the-counter equities and municipal debt investments; and trading on an excessive basis. FINRA Arbitration No. 15-01338 (Sept. 26, 2016).
On November 9, 2017, another customer initiated investment related arbitration claim involving McMahon’s activities was settled for $210,000.00 in damages supported by accusations of McMahon breaching a fiduciary obligation to the customer; making misrepresentations about over-the-counter equities; and negligently trading in the customer’s account. FINRA Arbitration No. 16-00735. Another customer initiated investment related arbitration claim involving McMahon’s conduct was resolved for $115,000.00 in damages founded on allegations that the customer’s account was administered negligently; false or misleading statements had been made to the customer; and fiduciary obligations to the customer were breached. FINRA Arbitration No. 16-00661 (Nov. 15, 2017).
McMahon has been associated with Worden Capital Management LLC since June 1, 2015.
