CMD Investigating Claims Against Brent Porges and Zachary Bader for Churning, Unsuitability, Unauthorized Trading and Fraud

Securities law firm Carmel, Milazzo & DiChiara LLP (CMD) is investigating claims against brokers Brent Porges and Zachary Bader for churning (excessive trading), making unsuitable recommendations, unauthorized trading and fraud, particularly related to ETFs (exchange traded funds) and ETNs (exchange traded notes).

According to Brent Porges’ FINRA BrokerCheck, he has been the subject of at least five (5) customer complaints, which include allegations of churning, fraud, unauthorized trading, and unsuitability.

Similarly, according to Zachary Bader’s FINRA BrokerCheck, he has been the subject of at least eight (8) customer complaints, which include allegations of churning, fraud, unauthorized trading, and unsuitability.

These acts may have occurred while Mr. Porges and Mr. Bader were registered with the following broker-dealers: Craig Scott Capital, LLC, National Securities Corporation, Newbridge Securities Corporation and Meyers Associates, L.P.  These broker-dealers have an independent duty to supervise Mr. Porges and Mr. Bader, as well as the customer accounts they service.  If the broker-dealers did not properly supervise Brent Porges and/or Zachary Bader, they can be held liable for their acts.

If you or someone you know lost money investing with Brent Porges and/or Zachary Bader 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 or contact@cmdllp.com for a free and confidential case evaluation.

CMD Investigating Unsuitable Recommendations to Purchase The Morgan Stanley Cushing MLP High Income ETN

Carmel, Milazzo & DiChiara LLP (CMD) is investigating potential claims against Morgan Stanley and its brokers who may have recommended unsuitable investments in the Morgan Stanley Cushing MLP High Income Exchange Traded Note (ETN).

Before recommending an investment, a broker-dealer has a fiduciary duty to adequately disclose the risks involved in the investment and to perform the necessary due diligence to determine whether the investment is suitable for the investor in light of that investor’s age, investment experience, net worth, income, and investment objectives.

The Morgan Stanley Cushing MLP High Income Index ETN is an exchange-traded note issued by Morgan Stanley.  The Notes aim to provide investors with a cash payment at the scheduled maturity or early repurchase and variable coupon payments each quarter, in each case based on the performance of the underlying index, the Cushing MLP High Income Index.

If you or someone you know lost money after a stock broker recommended an unsuitable investment in the Morgan Stanley Cushing MLP High Income Exchange Traded Note (ETN), CMD wants to hear from you. 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.