Spartan Capital Sued For Breach Of Fiduciary Duty

stockbrokerfraud116 - Spartan Capital Sued For Breach Of Fiduciary Duty

Joseph Francis Comiskey Jr. of Ronkonkoma New York a stockbroker formerly employed by Spartan Capital Securities LLC is referenced in a customer initiated investment related arbitration claim in which the customer sought $30,313.00 in damages supported by allegations that (1) fiduciary duties owed to the customer had been violated (2) the customer’s account was handled in a negligent manner and (3) false or misleading statements had been made by the stockbroker pertaining to options and stock transactions effected during the period in which Comiskey was employed by Spartan Capital Securities. Financial Industry Regulatory Authority (FINRA) Arbitration No. 19-00789 (May 8, 2019).

FINRA Public Disclosure confirms that Comiskey is referenced in three additional customer initiated investment related disputes that concern accusations of his violative conduct when he was associated with KC Ward Financial and JP Turner Company. In particular, Comiskey is the subject of a customer initiated investment related written complaint where the customer requested $83,185.00 in damages founded on allegations that during the time that Comiskey was associated with JP Turner Company, the customer had been charged excessive commissions; and trades were executed in the customer’s account in excessive amounts.

Another customer initiated investment related complaint concerning Comiskey’s conduct was settled for $16,000.00 in damages based upon accusations that during the period in which Comiskey was employed by KC Ward Financial, he neglected to place a stop loss order for the customer’s over-the-counter equities holdings. Also, a customer initiated investment related arbitration claim concerning Comiskey’s activities was resolved for $140,000.00 in damages supported by allegations that transactions effected by the stockbroker failed to be suitable given the customer’s risk tolerance and the speculative nature of those trades. FINRA Arbitration No. 15-3359 (May 30, 2017).

Comiskey has been associated with at least two different securities broker dealers which have been expelled by regulators for violation of federal securities laws or which are otherwise defunct.