David R. Wolk, of Garden City, New York, a stockbroker formerly associated with Woodstock Financial Group, Inc., has been named in a customer initiated investment related arbitration claim on January 21, 2016, in which the customer requested $50,000.00 in damages based upon allegations that Wolk breached his fiduciary duty to the customer and effected unsuitable equity transactions. The customer additionally alleged that Woodstock Financial Group failed to supervise Wolk’s activities.
FINRA Public Disclosure reveals that Wolk has been subject to twenty-three additional events concerning misconduct, thirteen of which are customer arbitration actions. Particularly, on July 13, 2015, a customer filed an investment related arbitration claim involving Wolk’s conduct, in which the customer requested $121,976.00 in damages based upon allegations against Wolk including breach of fiduciary duty, unsuitability, and churning.
On June 10, 2015, another customer filed an investment related arbitration claim, in which the customer requested $208,721.00 in damages based upon allegations that Wolk churned the customer’s account, effected unsuitable transactions, and breached his fiduciary obligation to the customer.
Between January 8, 2015, and April 15, 2015, three customer initiated investment related arbitration claims involving Wolk’s actions were settled for a total of $214,500.00 in damages based upon allegations that Wolk made misrepresentations to customers concerning investments, breached his contractual duties, effected trades in the customers’ accounts without authorization, churned the customers’ accounts, and effected 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.
