Mitchell Ross Pindus, of Los Angeles, California, a stockbroker registered with Wells Fargo Clearing Services LLC, is the subject of a customer initiated investment related Financial Industry Regulatory Authority (FINRA) securities arbitration claim in which the customer requested $200,000.00 in damages based upon allegations that Pindus made “investment recommendations without disclosing the risks” when Pindus was associated with Wells Fargo Clearing Services LLC. FINRA Arbitration No. 24-00927 (April 30, 2024).
FINRA Public Disclosure shows that Pindus is referenced in three other customer initiated investment related disputes concerning Pindus’s conduct while associated with securities broker dealers. A customer initiated investment related NASD securities arbitration claim involving Pindus’s conduct resulted in the customer being awarded $35,000.00 in compensatory damages because Pindus and Bear Stearns Company were held liable on the customer’s claims which included that Pindus made misrepresentations and omissions of material fact and made unsuitable recommendations. NASD Arbitration No. 92-00239.
On October 19, 2011, a FINRA securities arbitration claim involving Pindus’s conduct resulted in the customer being awarded $10,000.00 in compensatory damages because Pindus and RBC Wealth Management were held liable for sales practice violations. FINRA Arbitration No. 10-03270. The Statement of Claim alleged Pindus breached his fiduciary duties, made misrepresentations of material fact, and made unsuitable recommendations in connection with the sale of corporate bonds during the time that Pindus was associated with RBC.
Pindus was also referenced in a complaint filed on October 30, 2013, in which the customer requested compensation based upon allegations that Pindus failed to execute exchange-traded fund transactions when Pindus was associated with Wells Fargo Advisors LLC. The complaint was closed without a resolution.
Pindus has been associated with Wells Fargo Clearing Services LLC as a stockbroker in Los Angeles, California since June 9, 2010. He has been associated with Wells Fargo Advisors as an investment advisor representative in Los Angeles, California since June 15, 2010.
