Sean P. McCabe, of Westbury, New York, a stockbroker formerly registered with Worden Capital Management, is referenced in a customer initiated investment related FINRA securities arbitration claim in which the customer sought $330,113.00 in damages supported by accusations of misrepresentation relating to stock trading during the time that McCabe was employed by Worden Capital Management. Financial Industry Regulatory Authority (FINRA) Arbitration No. 21-01716 (July 13, 2021).
The claim alleges that the customer’s account was exposed to McCabe’s unsuitable and excessive trading of over-the-counter equities. According to the claim, there was a breach of fiduciary duty and unauthorized trades by the stockbroker between December 2016 and 2020. The customer also allegedly sustained damages from margin sell-outs.
McCabe has been identified in six additional customer initiated investment related disputes containing allegations of his harmful activities during the period that he was employed by securities broker dealers, including Worden Capital Management, National Securities Corp, and Four Points Capital Partners. FINRA Public Disclosure shows that a customer initiated investment related arbitration claim involving McCabe’s activities was settled for $8,500.00 in damages founded on accusations of breach of fiduciary duty, misrepresentation, and unsuitable trading by McCabe when he was registered with National Securities Corp.
McCabe is identified in a different customer initiated investment related arbitration claim that was resolved for $65,000.00 in damages on September 26, 2016, based upon allegations of McCabe’s negligence and breach of fiduciary duty relating to municipal bonds and over-the-counter equities trades at National Securities Corp. FINRA Arbitration No. 15-01338. According to the claim, McCabe engaged in unauthorized and excessive trading of those securities. The claim also alleges misrepresentations concerning the customer’s National Securities Corp account.
McCabe is also the subject of a customer initiated investment related arbitration claim that was settled for $36,000.00 in damages founded on accusations that McCabe breached a fiduciary duty and misrepresented information concerning over-the-counter equities transactions while McCabe was associated with National Securities Corp. FINRA Arbitration No. 16-00594 (February 18, 2017).
On November 14, 2017, an additional customer initiated investment related arbitration claim regarding McCabe’s conduct was resolved for $210,000.00 in damages based upon allegations that information on over-the-counter equities and common stock had been misrepresented by the stockbroker. FINRA Arbitration No. 16-00595 (November 14, 2017). The claim also contains accusations of negligence and breach of fiduciary duty resulting in damages.
McCabe is also referenced in a customer initiated investment related written complaint on July 18, 2017, where the customer requested $49,329.60 in damages founded on allegations of inappropriate common and preferred stock trading in the customer’s Four Point Capital Partners account. The complaint alleges that McCabe failed to trade in the customer’s best interests.
On December 13, 2018, an additional customer initiated investment related arbitration claim concerning McCabe’s activities was settled for $17,500.00 in damages supported by accusations of a breach of contract and the breach of fiduciary duty by McCabe between May 17, 2017, and September 28, 2017, regarding the customer’s investments in stock and over-the-counter equities. FINRA Arbitration No. 18-03814. According to the claim, unsuitable recommendations were made by McCabe during the time that he was employed by Worden Capital Management. The claim also alleges misrepresentation and fraud.
On March 10, 2020, McCabe’s stockbroker registration at Worden Capital Management was terminated. Since March 9, 2020, he has been registered with Network 1 Financial Securities.
