Robert Edward Schultz, of New Smyrna Beach, Florida, a stockbroker formerly registered with Newport Coast Securities, Inc., is the subject of a customer initiated investment related arbitration claim, which settled for 20,000.00 in damages based upon allegations that Schultz breached his fiduciary duties to the customer, made misrepresentations and omissions, and executed unsuitable transactions regarding private placements and a real estate security. Financial Industry Regulatory Authority (FINRA) Arbitration No. 16-02973 (Nov. 1, 2017).
FINRA Public Disclosure reveals that Schultz has been referenced in three additional customer initiated investment related disputes containing accusations of his misconduct during the time he was associated with Brookstreet Securities Corporation and Newport Coast Securities, Inc. Particularly, a customer initiated investment related arbitration claim concerning Schultz’s activities was resolved for $110,000.00 in damages supported by allegations of breach of fiduciary duty, misrepresentation and suitability in regard to the customer’s direct investment products. FINRA Arbitration No. 11-03811 (June 29, 2012).
Then, a customer initiated investment related arbitration claim involving Schultz’s conduct was settled for $12,500.00 in damages founded on allegations that Schultz failed to supervise a stockbroker who effected inappropriate options transactions in the customer’s account. FINRA Arbitration No. 09-07096 (July 19, 2012). Then, a customer initiated investment related arbitration claim regarding Schultz’s activities was resolved for $198,000.00 in damages based upon accusations of negligence, breach of contract and fiduciary duties, as well as omissions and misrepresentations relating to the customer’s real estate security, penny stock and exchange traded fund investments. FINRA Arbitration No. 14-01140 (July 27, 2015).
Schultz has been associated with eleven different broker dealers, two of which have been expelled by securities regulators for violation of federal securities laws or are otherwise defunct.
The information contained herein has been obtained from reliable sources however may not be accurate and is not guaranteed by us. Readers are encouraged to undertake their own independent investigation and evaluation of the relevant facts. All claims and allegations are subject to adjudication, decisions may be subject to appeal, and no inference is intended, nor should any inference be made from any information contained herein from any source.
This posting and the information on our website is for general information purposes only. This content should be not considered legal advice, and any responses, comments, e-mails, other communications do not form any attorney client relationship. Attorney Advertisement. See Important Disclaimer
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.
For more information concerning common claims against stockbrokers and investment professionals, please visit us at securitiesarbitrations.com
To learn more about FINRA Securities Arbitration, and the legal process, please visit us at securitiesarbitrations.com
