Mark Kaplan, of Woodbury, New York, a stockbroker with Vanderbilt Securities, LLC, was named in a customer initiated investment related arbitration claim on February 15, 2016, in which the customer has requested $1,130,000.00 in damages per allegations against Kaplan of effecting unsuitable investment transactions for the customer.
FINRA Public Disclosure reveals that Kaplan has been named in eight other customer initiated investment related arbitration claims. Particularly, on January 17, 2007, Kaplan settled a customer initiated investment related arbitration claim for $24,750.00 in damages based upon allegations against Kaplan of effecting unsuitable investment purchases in the customer’s account, making misrepresentations concerning investments to customers, and trading in the customer’s account in an excessive manner.
On February 23, 2007, Kaplan settled a customer initiated investment related arbitration claim for $11,587.88 in damages based upon allegations that Kaplan did not follow the customer’s instructions, and effected an unauthorized trade in the customer’s account. Kaplan was terminated from his former employer, Morgan Stanley Smith Barney, based upon allegations stemming from a customer complaint and concerns about Kaplan’s conduct regarding customer accounts.
On March 29, 2011, Kaplan settled a customer initiated investment related arbitration claim for $45,000.00 in damages based upon allegations that Kaplan excessively traded in the customer’s account. Another customer lodged an investment related arbitration claim against Kaplan on September 26, 2015, and received $470,000.00 in damages based upon allegations that Kaplan effected unsuitable and unauthorized trades in the customer’s account.
On November 20, 2015, Kaplan settled a customer initiated investment related arbitration claim for $25,000.00 based upon allegations against Kaplan of making investment recommendations that were not suitable for the customer. On March 21, 2016, Kaplan settled a customer initiated investment related arbitration claim for $240,000.00 in damages based upon allegations against Kaplan of excessively trading in the customer’s account, and effecting unsuitable transactions.
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.
