Wilfredo Felix Jr. of New York New York the President and Chief Executive Officer of Primex is the subject of a customer initiated investment related arbitration claim where the customer sought unspecified damages founded on accusations that the customer had been placed into UpREIT – a real estate security which was not appropriate or suitable. FINRA Arbitration No. 18-03614 (Nov. 19, 2018).
Financial Industry Regulatory Authority (FINRA) Public Disclosure confirms that Felix has been identified in two additional customer initiated investment related disputes containing allegations of his violative conduct while employed with Primex. Specifically, Felix is the subject of a customer initiated investment related arbitration claim in which the customer was awarded $17,130.00 in damages based on Felix being found liable on the customer’s claims of false or misleading statements concerning the terms and conditions of investments; failure to supervise the customer’s account; securities trades that were negligently and inappropriately effected in the customer’s account; violation of fiduciary and regulatory duties; breach of contract; and fraud.
Also, Felix is the subject of a customer initiated investment related arbitration claim where the customer was awarded $72,895.56 in compensatory damages based upon Felix being found liable on the customer’s claims which included that the customer’s account was churned; ZYNGA Inc. and Skywork Solutions Inc. trades were unsuitable for the customer; and Primex failed to supervise the stockbroker’s transactions in the customer’s investment account. FINRA Arbitration No. 17-02774 (Apr. 20, 2019).
