Gana LLP’s securities fraud investigation has uncovered a complaint filed by the Financial Industry Regulatory Authority (FINRA) against broker Gerald O’Halloran (O’Halloran). O’Halloran was formerly associated with Kovack Securities Inc. The complaint alleges that O’Halloran has been the subject of at least eight customer complaints, two employment separations for cause, and one criminal charge. The customer complaints against O’Halloran is a makeup of allegations of numerous securities law violations, including that O’Halloran engaged in unauthorized trades, misrepresentation, breach of fiduciary duty & breach of contract among other claims.
The most recent complaint against O’Halloran was filed in August 2016, alleging $135,000.00 in damage stemming from violation of trading negligently, misrepresentation, omission of a material fact, breach of fiduciary duty & breach of contract in customer’s account while employed at Credit Suisse Securities. The claim is currently pending.
In 2011 a customer filed a complaint alleging unauthorized trades in the account during February 2011 claiming $14,000.00 in damages. The case was resolved with the customer receiving $27,000.00.