Newport Coast Securities, Leone and LaBarbera—Unsuitable Trading, Customer Account Churning

Rochester stockbroker fraud attorneyNewport Coast Securities, Douglas A. Leone and Andre V. LaBarbera Allegedly Churned Customer Accounts

Newport Coast SecuritiesDouglas A. Leone and Andre V. LaBarbera allegedly churned customer accounts, according to a Complaint from FINRA’s Department of Enforcement currently under review by attorneys Alan Rosca and James Booker.

Newport Coast SecuritiesDouglas A. Leone and Andre V. LaBarbera also allegedly recommended unsuitable trades to customers, the Complaint notes.

The Peiffer Rosca Wolf securities lawyers are investigating Newport Coast Securities, Douglas A. Leone and Andre V. LaBarbera’s alleged churning of customer accounts.

Newport Coast Securities Allegedly Failed to Supervise Five Registered Reps, Expelled and Barred, Ordered to Pay Restitution of Almost $413,000

Newport Coast Securities allegedly failed to supervise five registered reps, according to the aforementioned FINRA Complaint presently under review by attorneys Alan Rosca and James Booker.

As a result of the aforementioned behavior, Newport Coast Securities allegedly violated FINRA and NASD Rules.

Hence, Newport Coast Securities has been expelled and barred by FINRA and ordered to pay restitution of nearly $413,000, the Complaint reports.

Securities Lawyers Investigating

The Peiffer Rosca Wolf securities lawyers often represent investors who lose money as a result of alleged customer account churning and are currently investigating Newport Coast SecuritiesDouglas A. Leone and Andre V. LaBarbera’s alleged customer account churning. 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 Newport Coast SecuritiesDouglas A. Leone and Andre V. LaBarbera’s alleged customer account churning may contact the securities lawyers at Peiffer Rosca Wolf, Alan Rosca or James Booker, for a free no-obligation evaluation of their recovery options, at 888-998-0520 or via e-mail at arosca@prwlegal.com or jbooker@prwlegal.com.

Alan Rosca (1169 Posts)

Alan is a securities lawyer. He also teaches Securities Regulation at the Cleveland-Marshall College of Law. He focuses his legal practice on complex commercial and financial litigation and arbitration, particularly in the areas of securities and investment fraud. His office is in Cleveland, Ohio.


In our legal system, every person is innocent until and unless found guilty by a court of law or a tribunal. Whenever we reference “allegations” or charges that are “alleged,” such allegations or charges have not been proven, and are merely accusations, not findings of fault, as of the date of the blog. We do not have, nor do we undertake, a duty to continue to monitor or follow cases about which we report, and/or to publish subsequent blogs regarding various developments that may occur in such cases. Readers are encouraged to conduct their own research regarding any such cases and any developments that may or may not have occurred in such cases.