Securities Lawyers Blog
According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Michael Pineda (Pineda), currently associated with Lifemark Securities Corp., has at least one disclosable event. These events include one customer complaint, alleging that Pineda 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 $75,000.00 on August 15, 2022.
Mr. Pineda is not a party to the arbitration. Allegations pertain to an investment in an alternative product, intended to be a small component of a larger diversified portfolio. Unfortunately, the company that issued the investment has since filed Chapter 11 bankruptcy. As a result, the client is now alleging breach of fiduciary duty, negligence, negligent supervision, fraud, breach of contract, violation of sections 10(b) and 20(a) of the Securities and Exchange Act, Rule 10b-5 of the Securities and Exchange Commission and violation of the Colorado Uniform Securities Act.