Garden State Securities Sued For Unsuitable Recommendations
Jason Eric Zwibel of Wellington Florida is a stockbroker currently employed by Garden State Securities Inc. who is the subject of a customer initiated investment related arbitration claim, where the customer sought $2,670,750.00 in damages based upon allegations of (1) breach of fiduciary responsibility (2) negligence and (3) suitability relating to over-the-counter equities and stock transactions placed in the customer’s account between 2013 and 2016. Financial Industry Regulatory Authority (FINRA) Arbitration No. 17-02864 (Nov. 29, 2017).
FINRA Public Disclosure confirms that Zwibel has been identified in four additional customer initiated investment related disputes containing accusations of his misconduct during the time he was associated with Josephthal & Co., Inc. and Brookstreet Securities Corporation. Particularly, on April 20, 1998, a customer filed an investment related written complaint involving Zwibel’s conduct, in which the customer requested $60,000.00 in damages supported by allegations that Zwibel effected an unauthorized Sciclone Pharmaceuticals, Inc. equity purchase in the customer’s investment account.
On November 22, 2000, a customer filed an investment related written complaint that concerned Zwibel’s conduct, where the customer sought $65,000.00 in damages founded on accusations that Zwibel placed over-the-counter equities trades in the customer’s account without the customer’s permission. Thereafter, a customer initiated investment related written complaint pertaining to Zwibel’s activities was resolved for $50,000.00 in damages based upon allegations including unjust enrichment, misrepresentation, breach of fiduciary duty and negligence relating to collateralized mortgage obligations transactions effected in the customer’s account.
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