Garden State Securities Sued For Breach Of Contract

Alexander Kibrik of New York New York a stockbroker formerly registered with Garden State Securities Inc. and First Merger Capital is the subject of a customer initiated investment related arbitration claim where the customer was awarded $413,045.11 in compensatory damages supported by Kibrik being found liable on the customer’s claims of (1) manipulation (2) negligence (3) breach of contract (4) unauthorized trading (5) omission of facts (6) misrepresentation and (7) breach of fiduciary duty with regard to stock and over-the-counter equity transactions effected in the customer’s account. Financial Industry Regulatory Authority (FINRA) Arbitration No. 16-03304 (Nov. 11, 2016).

FINRA Public Disclosure additionally confirms that a customer filed an investment related arbitration claim concerning Kibrik’s activities where the customer sought $23,125,000.00 in damages founded on accusations of breach of contract, negligence, and breach of fiduciary duty concerning private placement investment transactions that were executed during the period that Kibrik was associated with Radnor Research & Trading and Global Emerging Capital Group, LLC. FINRA Arbitration No. 16-02890 (Jan. 31, 2017).

Kibrik’s employment with Garden State Securities, Inc. was terminated on August 23, 2017. Since March 31, 2009, Kibrik has been associated with four different broker dealers, one of which has been expelled by securities regulators for violation of federal securities laws or is otherwise defunct.

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