Michael Lavolpe— Unsuitable Activity in a Customer’s Account
Michael Lavolpe Allegedly Engaged in Unsuitable Activity in a Customer’s Account
Michael Lavolpe allegedly engaged in unsuitable activity in a customer’s account, according to a recent Complaint from FINRA’s Department of Enforcement currently under review by attorneys Jason Kane and James Booker.
Michael Lavolpe, who allegedly is facing 6 other customer disputes of which 5 allege unsuitability, was reportedly terminated by his former firm, Myers Associates, on July 29, 2014, FINRA records report. Said records all state that Myers Associates claim that Lavolpe allegedly left the firm owing in excess of $37,000.
The Peiffer Wolf Carr & Kane securities lawyers are currently investigating Michael Lavolpe’s alleged participation in unsuitable activity in a customer’s account.
Michael Lavolpe Allegedly Failed to Respond to Requests for Documents and Information during the Course of a FINRA Investigation into Lavolpe’s Alleged Unsuitable Activity in a Customer’s Account
Michael Lavolpe allegedly received requests from FINRA for information regarding a case wherein a customer alleged that Lavolpe engaged in churning, failure to supervise, negligence and breach of fiduciary duty, according to the aforementioned Complaint being examined by attorneys Jason Kane and James Booker.
Michael Lavolpe, after receiving several requests via Certified Mail and USPS allegedly failed to respond to FINRA Staff’s first and second letter requests, said Complaint notes. Lavolpe, as a result, allegedly violated FINRA Rules, said Complaint reports.
FINRA records also report that in the pending cases against Lavolpe, one Meyers Associates customer alleges damages of $308,703 for unsuitable investments in penny stocks, and in another a customer alleges damages of $545,000 for unsuitable investments in private placements.
Securities Lawyers Investigating
The Peiffer Wolf Carr & Kane securities lawyers often represent investors who lose money as a result of alleged unsuitable broker activity, and are currently investigating Michael Lavolpe’s alleged unsuitable activity in customer’s accounts. They take most cases of this type on a contingency fee basis and advance the case costs, and only get paid for their fees and costs out of money they recover for their clients.
Investors who believe they lost money as a result of Michael Lavolpe’s alleged unsuitable activity in customer’s accounts are encouraged to contact the securities lawyers at the Cleveland office of Peiffer Wolf Carr & Kane, Jason Kane or James Booker, for a free no-obligation evaluation of their recovery options, at (585) 310-5140.