Scott Neal Glazer- Alleged Stock Market Price Manipulation

investment fraud attorneysScott Neal Glazer Allegedly Manipulated the Stock Market Price of National Technical Systems, Inc.

Scott Neal Glazer, individually and along with others, allegedly conspired to manipulate, control and establish the price of National Technical Systems, Inc., (NTSC)  a company trading on the NASDAQ National Market for a two year period, from January 2009 through December 2011, according to Financial Industry Regulatory Authority (FINRA) currently under review by investment attorneys of Peiffer Wolf Carr & Kane.

Scott Neal Glazer, alone and in concert with others allegedly manipulates the price of National Technical Systems, Inc.(NTSC) by allegedly placing buy and sell orders in numerous brokerage accounts, either personally owned by Scott Neal Glazer or controlled by him in his capacity as a broker. Specifically, Glazer allegedly placed a buy order of a certain number of shares of NTSC from an account he controlled. Then simultaneously with that buy order Glazer allegedly issued a sell order from another account he controlled. The buy order would match the sell order at the price established by Scott Neal Glazer. These orders allegedly occurred at or near the open or close of business. This practice is known as matched trading.

Matched trading is an attempt to mark the open and closing prices of a stock. Scott Neal Glazer was allegedly able to manipulate the price of NTSC shares through matched trading practices.

Scott Neal Glazer Fined and Suspended

Glazer, in his own accounts, in his wife’s account, and in customer accounts, allegedly marked the close on 63 separate occasions and allegedly marked the open on 11 separate occasions in furtherance of the alleged manipulation of NTSC. FINRA Rules prohibit brokers from directly or indirectly, knowingly or recklessly effecting transactions in, and inducing the purchase or sale of a security by means of manipulative, deceptive or other fraudulent devices or contrivances.

Scott Neal Glazer was fined $50,000 and suspended from working as a broker for six months by FINRA. Glazer accepted and consented to the entry of specific findings by FINRA contained within the Letter of Acceptance, Waiver, and Consent (AWC), without admitting or denying FINRA’s findings of fact. FINRA’s entry of findings alleged the Glazer conspired to manipulate, control and establish the price of National Technical Systems, Inc., (NTSC).

Securities Lawyers Investigating

The Peiffer Wolf Carr & Kane investor rights attorneys often represent investors who lose money as a result of alleged investment schemes. They are currently investigating Scott Neal Glazer. 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 Scott Neal Glazer allegedly manipulating stock prices may contact the investor rights attorneys at Peiffer Wolf Carr & Kane, Jason Kane or Joe Peiffer, for a free no-obligation evaluation of their recovery options, at (585) 310-5140.

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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.