Paul V. Blum, of West Palm Beach, Florida, a stockbroker registered with RBC Capital Markets, LLC, is subject to a customer initiated investment related arbitration claim from August 18, 2016, in which the customer requested $525,000.00 in damages based upon allegations that Blum made unsuitable recommendations concerning investments of corporate bonds in the energy sector.
FINRA Public Disclosure reveals that Blum has been subject to twenty-one additional customer arbitrations. Particularly, from September 1, 1995, to November 20, 1995, Blum was subject to four customer initiated investment related arbitration claims which were settled for $650,259.25 in aggregate damages based upon allegations against Blum for misrepresentation and unsuitability regarding investments in Plaid Clothing bonds.
On October 19, 2012, a customer initiated investment related arbitration claim involving Blum’s conduct was settled for $110,000.00 in damages based upon allegations that Blum traded excessively in the customers’ accounts. Subsequently, on November 16, 2015, a customer initiated investment related arbitration action involving Blum’s conduct was resolved for $64,000.00 in damages based upon allegations that Blum made unsuitable bond recommendations to the customer.
On December 8, 2015, another customer filed an investment related arbitration claim involving Blum’s actions, in which the customer requested $450,000.00 in damages based upon allegations that Blum acted negligently concerning investment recommendations in bond investments. Subsequently, on January 15, 2016, a customer initiated investment related arbitration claim was settled for $150,000.00 in damages based upon allegations that Blum misrepresented the tax liability on bond investments.
Further, on February 2, 2016, a customer filed an investment related arbitration claim involving Blum’s conduct, in which the customer requested $886,070.00 in damages based upon allegations that Blum made unsuitable investment recommendations and overconcentrated the customer’s assets in energy sector investments.
On March 24, 2016, another customer initiated investment related arbitration claim involving Blum’s actions was settled for $393,000.00 in damages based upon allegations that Blum excessively traded the customer’s account, and effected unsuitable investment transactions. Subsequently, on May 10, 2016, a customer initiated investment related arbitration claim involving Blum’s conduct was resolved for $29,000.00 in damages based upon allegations that Blum effected unauthorized and unsuitable purchases of investments in the customer’s account, and made misrepresentations concerning such.
Between March 8, 2016, and July 22, 2016, Blum has become subject to eight customer initiated investment related arbitration claims, in which customers have requested damages collectively totaling $10,795,600.00 based upon losses incurred associated with corporate energy debt investments. Allegations from customers against Blum include unsuitable investment recommendations, excessive trading, overconcentration of customer assets, and effecting of unauthorized transactions pertaining to such energy sector corporate bonds.
Guiliano Law Group
Our practice is limited to the representation of investors. We accept representation on a contingent fee basis, meaning there is no cost to you unless we make a recovery for you. There is never any charge for a consultation or an evaluation of your claim. For more information, contact us at (877) SEC-ATTY.
