Securities Lawyers Blog
According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Steven Kirchner (Kirchner), previously associated with Exos Securities LLC, has at least one disclosable event. These events include one customer complaint, alleging that Kirchner recommended unsuitable investments in different investment products including debt securities among other allegations and complaints.
FINRA BrokerCheck shows a settled customer complaint with a damage request of $80,780,000.00 on September 09, 2020.
Plaintiffs allege that from early 2014 through April 2016, their investment manager Premium Point Investments LLP fraudulently overstated the value of their holdings. Plaintiffs allege Premium Point was able to do so in part because Performance Trust Capital Partners, LLC, through Mr. Kirchner and other Performance Trust employees, provided bid quotes on various securities that did not reflect the actual value of those securities. Plaintiffs allege Performance Trust provided these quotes in exchange for executing trades through Performance Trust, earning commissions for Performance Trust and its employees.