Allan P. Montalbano, of Garden City, New York, a stockbroker formerly registered with National Securities Corporation, has been named in a customer initiated investment related arbitration claim on June 20, 2016, in which the customer requested $350,000.00 in damages based upon allegations that Montalbano breached his contractual and fiduciary duties, negligently handled the customer’s investment account, and made misrepresentations to the customer pertaining to over-the-counter equity transactions.
Financial Industry Regulatory Authority (FINRA) Public Disclosure reveals that Montalbano has been identified in five additional customer initiated investment related arbitration claims between March 7, 2016, and March 21, 2016, in which customers have collectively requested $1,650,000.00 in damages based upon allegations that Montalbano negligently handled their investment portfolios, made misrepresentations concerning investments, and breached his fiduciary duties concerning over-the-counter equity transactions.
Further, on November 1, 2010, a customer initiated investment related arbitration claim regarding Montalbano’s activities was resolved for $140,000.00 in damages based upon allegations that Montalbano made misrepresentations to the customer, mishandled the customer’s investment account, and breached his fiduciary and contractual duties to the customer pertaining to stock transactions.
Subsequently, on March 25, 2013, a customer filed an investment related written complaint involving Montalbano’s conduct based upon allegations that Montalbano effected unauthorized stock trades in the customer’s account. On May 13, 2013, another customer filed an investment related written complaint concerning Montalbano’s activities, in which the customer requested $75,000.00 in damages based upon allegations that Montalbano failed to execute the customer’s investment instructions.
Montalbano’s registration with National Securities Corporation was terminated on June 16, 2014. From June 13, 2014, to June 2, 2015, Montalbano was registered with Four Points Capital Partners LLC. Subsequently, from June 1, 2015, to January 19, 2017, Montalbano was registered with Worden Capital Management LLC. #bucketshop
Guiliano Law Group
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