Stefan Ara Shimshidian of White Plains, New York, a stockbroker registered with Cabot Lodge Securities LLC, is the subject of a customer initiated investment related Financial Industry Regulatory Authority (FINRA) securities arbitration claim in which the customer requested $100,001.00 in damages based upon allegations that Shimshidian was negligent, breached his fiduciary duties, committed fraud, breached a contract, breached the New York Consumer Protection Act, and violated federal securities laws in connection with the sale of GWG Holdings Class L-bonds during the time that Shimshidian was associated with Cabot Lodge Securities LLC. FINRA Arbitration No. 24-00410 (March 25, 2024).
This marks the third time that Shimshidian has been referenced in a customer initiated investment related dispute concerning Shimshidian’s conduct in the securities industry. FINRA Public Disclosure shows that Shimshidian was also referenced in a customer initiated investment related FINRA securities arbitration claim that was settled for $134,820.00 in damages based upon allegations that Shimshidian was negligent, committed fraud, breached his fiduciary duties, breached a contract, and violated state and federal securities laws in connection with the sale of private placements when Shimshidian was associated with Cabot Lodge Securities LLC. FINRA Arbitration No. 22-01928 (November 16, 2023).
On July 13, 2023, a customer filed a securities arbitration claim involving Shimshidian’s conduct in which the customer requested $171,500.00 in damages based upon allegations that Shimshidian violated Regulation Best Interest, failed to supervise, breached a contract, made misrepresentations of material fact about private placements, was negligent, and breached his fiduciary duties to the customer. FINRA Arbitration No. 23-01977.
Shimshidian has been associated with Cabot Lodge Securities LLC in White Plains, New York since June 29, 2013.
