Worden Capital Management LLC (Worden Capital) advisor Mark Kolta (Kolta) has been subject to at least 14 customer complaints and one employment termination for cause. According to a BrokerCheck report many of the customer complaints concern alternative investments and direct participation products (DPPs) such as non-traded real estate investment trusts (REITs), oil & gas programs, annuities, and equipment leasing programs. The attorneys at Gana Weinstein LLP have extensive experience handling investor losses caused by these types of products.
In addition, in November 2011 Kolta was discharged by Chase Investment Services Corp. (Chase) for recommending that customers of another brokerage firm trade options.
The most recent complaint was filed in July 2018 alleging breach of fiduciary duty, negligence, misrepresentations and unsuitable recommendations leading to $120,000 in damages. The claim is currently pending. Anther complaint filed in June 2018 contained allegations by a customer that misrepresentations and unsuitable recommendations were made leading to $450,000 in damages. The claim is currently pending.