FINRA Arbitration Lawyers Sue Stifel Nicolaus Company For Unauthorized Trading
Todd Michael Niedermeyer of San Francisco California a stockbroker currently employed by Stifel Nicolaus Company Incorporated is the subject of a customer initiated investment related written complaint on February 22, 2018 in which the customer requested damages estimated to exceed $5,000.00 based upon accusations that on November 9, 2016, Niedermeyer executed unauthorized sales of stock from the customer’s investment portfolio.
Financial Industry Regulatory Authority (FINRA) Public Disclosure confirms that Niedermeyer has been identified in five additional customer initiated investment related disputes containing allegations of Niedermeyer’s misconduct while employed with PaineWebber, Stone & Youngberg and Wells Fargo Investments, LLC. In particular, a customer initiated investment related arbitration claim involving Niedermeyer’s conduct was resolved for $22,575.00 in damages supported by accusations of unauthorized trading. Moreover, on December 18, 2002, a customer filed an investment related complaint regarding Niedermeyer’s activities where the customer requested $59,000.00 in damages founded on allegations that misrepresentations had been made to the customer concerning over-the-counter equities.
Then, on January 16, 2007, a customer filed an investment related complaint concerning Niedermeyer’s conduct in which the customer requested damages estimated to exceed $5,000.00 based upon accusations that Niedermeyer made inappropriate recommendations to the customer concerning an equity investment strategy. Further, a customer initiated investment related arbitration claim was settled to resolve allegations that Niedermeyer failed to follow the customer’s instructions of liquidating three mutual funds from the customer’s investment account. FINRA Arbitration No. 11-03737 (Oct. 19, 2011).
FINRA Public Disclosure additionally reveals that Niedermeyer was discharged from Wells Fargo Investments supported by accusations that he violated the firm’s policy by disseminating unauthorized customer account information.
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