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Broker Complaints: Wunderlich Securities (CRD# 2543)

Wunderlich SecuritiesThe securities and investment fraud law firm Fitapelli Kurta is interested in hearing from investors who have complaints regarding the Tennessee-based brokerage and advisory firm Wunderlich Securities (CRD# 2543).

Formed in Tennessee in 1992, Wunderlich Securities is headquartered in Memphis, Tennessee and registered in 53 US states. Gary Kent Wunderlich is Chief Executive Officer; Philip Richard Zanone Stephen Joseph Bonema is Chief Operating Officer; Stacy Malinda Hodges is Chief Financial Officer; William David Woodward is Chief Compliance Officer.

According to the firm’s BrokerCheck report, Wunderlich Securities is the subject of fourteen regulatory sanctions and three customer complaints that evolved into arbitration.

In 2014 the Financial Industry Regulatory Authority (FINRA) sanctioned Wunderlich Securities following allegations the firm sold approximately 271 million unregistered shares of “thinly traded low-priced stocks” without adequately confirming that said shares could be sold with an exemption from registration. Wunderlich was censured and issued a fine of more than $108,300.

In 2013 the New York State Department of Financial Services sanctioned Wunderlich Securities following allegations the firm failed to disclose that it was censured, fined, and ordered to cease and desist from “committing certain violations.” Wunderlich Securities was censured and issued a fine of $10,000.

In 2008 a customer alleged Wunderlich Securities breached its fiduciary duty, churned the customer’s account, breached contract, and failed to supervise its representatives. The complaint resulted in an award to the customer of more than $83,900.

In 2007 a customer filed a complaint against them in response to unspecified allegations. The complaint resulted in an award to the customer of more than $9,000.

In 2004 the National Association of Securities Dealers (NASD) sanctioned Wunderlich Securities following allegations, among others, the firm unlawfully shared un-public research, failed to retain certain emails, and traded ahead of a research report. Wunderlich Securities was censured and issued a fine of $50,000.

In 2004 a customer alleged Wunderlich Securities breached its fiduciary duty, misrepresented and sold an unsuitable investment, and acted negligently. The complaint resulted in an award to the customer of $92,150.

If you have lost money investing with Wunderlich Securities, you may be entitled to recover your losses. Call the securities and investment fraud law firm Fitapelli Kurta at 877-238-4175 for a free consultation. All cases are taken on contingency: we only get paid if and when you recover money.  Time to file your claim may be limited, so we encourage you to avoid delay. Call 877-238-4175 now to speak to an attorney for free.