Current Investigations

CMD Investigating Claims Against Ross Cammarata, the Ross Group and UBS for Unsuitable Recommendations and Unauthorized Trading

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Carmel, Milazzo & DiChiara LLP (CMD) is investigating potential claims against securities broker Ross (Rosario) Cammarata, the Ross Group which is based in Florida, and UBS who may have recommended unsuitable investments and over-concentrated customer accounts in precious metals, such as gold, as well as various energy securities.  Further, Mr. Cammarata may have engaged in the unauthorized trading of these securities.

In making an investment recommendation, a broker must make recommendations that are consistent with the customer’s risk tolerance, needs and investment objectives.  A broker has a duty to know his client and only recommend investments and trading strategies that are suitable for that specific client.  An investment may be unsuitable if a customer does not have the financial ability to incur the risk associated with a particular investment, if the investment was not in line with the investor’s financial needs, if the customer did not know or understand risks associated with certain investments or if the customer’s investment account was over-concentrated in a single type of asset or sector.

A broker has a duty to gather essential information in order to understand the risk tolerance of an investor, the tax considerations for the client, the client’s prior experiences and appetite for risk, and the level of return desired. It is the duty of a broker to make recommendations that are appropriate and suitable given his client’s circumstances. If a broker breaches those duties and makes unsuitable recommendations for a client, the broker may be liable for damages to that client.

If you or someone you know lost money after Ross Cammarata or the Ross Group made unsuitable recommendations to purchase precious metals such as gold, and energy securities, or engaged in trading without your authorization, you may be entitled to recover your investment losses through FINRA arbitration.  CMD accepts cases on a contingency fee basis, which means we only get paid if you get paid.  Your time to file a claim may be limited, so contact us today at (212) 658-0458 for a free and confidential case evaluation.

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