Sean P. McCabe of Melville New York a stockbroker currently registered with Worden Capital Management LLC is the subject of a customer initiated investment related arbitration claim which was settled for $17,500.00 in damages based upon accusations that between May 17, 2017 and September 28, 2017: (1) inappropriate investment recommendations had been made to the customer (2) fiduciary duties and contractual obligations were breached (3) the customer’s account was negligently administered and (4) false or misleading statements had been made to the customer concerning the customer’s investments and (5) the customer was defrauded. FINRA Arbitration No. 18-03814 (Dec. 13, 2018).
Financial Industry Regulatory Authority (FINRA) Public Disclosure reveals that McCabe has been identified in five more customer initiated investment related disputes containing allegations of his misconduct while employed with securities broker dealers including Four Points Capital Partners LLC, National Securities Corp and Worden Capital Management LLC. In particular, a customer initiated investment related arbitration claim involving McCabe’s conduct was resolved for $8,500.00 in damages supported by accusations of fiduciary duties being breached; transactions being executed in the customer’s account that were unsuitable for the customer; and misrepresentations being made concerning the investments selected for the customer’s account. FINRA Arbitration No. 14-02503 (Nov. 25, 2014)
Another customer initiated investment related arbitration claim concerning McCabe’s activities was settled for $65,000.00 in damages founded on allegations that McCabe breached his fiduciary duties to the customer; mishandled the customer’s investment account; misrepresented terms and conditions of investments purchased by the customer; and placed over-the-counter equities and municipal debt trades in the customer’s account excessively and without the customer’s permission. FINRA Arbitration No. 15-01338 (Sept. 26, 2016). Further, a customer initiated investment related arbitration claim regarding McCabe’s conduct was resolved for $36,000.00 in damages based upon accusations including negligence, misrepresentation, and violation of fiduciary obligations with respect to the customer’s over-the-counter equities holdings. FINRA Arbitration No. 16-00594 (Feb. 18, 2017).
On July 18, 2017, another customer filed an investment related complaint involving McCabe’s activities in which the customer requested $49,329.60 in damages supported by allegations that stock trades were inappropriately effected in the customer’s account as they did not represent the customer’s best interests. Moreover, a customer initiated investment related arbitration claim involving McCabe’s activities was settled for $210,000.00 in damages founded on accusations that the customer was provided false or misleading statements concerning the stock or over-the-counter equities transactions placed in the customer’s account; fiduciary duties owed to the customer were violated; and the customer’s investment account had been poorly administered. FINRA Arbitration No. 16-00595 (Nov. 14, 2017).
McCabe has been employed by Worden Capital Management LLC since June 1, 2015.
