Securities Arbitration Investment Fraud Lawyers » Misappropriation of Funds » Investors File FINRA Securities Arbitration Claim Agianst Worden Capital

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Michael Anthony Valdini, of Garden City, New York, a stockbroker formerly registered with Worden Capital Management LLC, is identified in a customer initiated investment related FINRA securities arbitration claim in which the customer sought $1,277,631.00 in damages founded on allegations of breach of contract and violations of both FINRA and SEC rules concerning over-the-counter equities and stock trades between September of 2015 and September of 2019 when Valdini was associated with Worden Capital Management. Financial Industry Regulatory Authority (FINRA) Arbitration No. 21-01931 (August 9, 2021).

According to the claim, misrepresentations and omissions had been made about securities transactions at Worden Capital Management. The claim also alleges breach of fiduciary duty and unsuitable transactions resulting in damages.

Valdini has been identified in four more customer initiated investment related disputes regarding allegations of his misconduct while employed by securities broker dealers, including JD Nicholas Associates Inc. and Worden Capital Management. FINRA Public Disclosure shows that a customer filed an investment related arbitration claim involving Valdini’s activities where the customer requested $130,345.00 in damages based upon accusations of unsuitable and excessive trading of options, common and preferred stock, and over-the-counter equities while he was employed by JD Nicholas Associates. The claim alleges that the customer’s account had been overconcentrated and churned. JD Nicholas Associates is accused of failure to supervise.

Another customer filed an investment related complaint concerning Valdini’s conduct in which the customer sought $125,956.33 in damages founded on allegations of negligent supervision, churning, and commission or markup abuse relating to stock trading by Valdini at JD Nicholas Associates. The claim alleges Valdini breached a fiduciary duty to the customer. The customer’s account was allegedly overconcentrated in risky securities.

On September 28, 2016, a different customer filed an investment related arbitration claim involving Valdini’s activities where the customer requested $420,847.00 in damages based upon allegations of unauthorized trading, violation of FINRA Rules, and failure to supervise stock trades at Worden Capital Management. FINRA Arbitration No. 16-02775. According to the claim, inappropriate transactions were made in the customer’s account, as it was concentrated in equities which resulted in damages to the customer.

Valdini is also the subject of a customer initiated investment related arbitration claim which was settled to resolve accusations of unauthorized stock trades at JD Nicholas Associates. FINRA Arbitration No. 16-03569 (January 29, 2021). According to the claim, the customer’s account was excessively and unsuitably traded. The claim alleges that JD Nicholas Associates failed to supervise, resulting in churning of the customer’s account.

Valdini’s stockbroker registration at Worden Capital Management was terminated on August 17, 2020. Since August 12, 2020, Valdini has been registered with Joseph Stone Capital LLC.