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Broker Complaints: Joseph Gunnar & Company (CRD# 24795)

The securities and investment fraud law firm Fitapelli Kurta is interested in hearing from investors who have complaints regarding the New York-based brokerage and advisory firm Joseph Gunnar & Company (CRD# 24795).

Formed in Delaware in 1997, Joseph Gunnar & Company is headquartered in New York, New York and registered in 52 US states and territories. Joseph Anthony Alagna, Jr. is Chairman and Chief Executive Officer; Stephen A. Stein is President; Robert Anthony Gerraputa is Chief Compliance Officer; Steven Frederic Singer is Financial Operations Principal.

According to the firm’s BrokerCheck report, Joseph Gunnar & Company is the subject of two regulatory sanctions and ten customer complaints evolving into arbitration.

In 2014 a customer alleged Joseph Gunnar & Company breached its fiduciary duty, misrepresented material facts related to an investment, churned the customer’s account, executed unauthorized trades, recommended an unsuitable investment, breached contract, failed to supervise its representatives, and acted negligently. A FINRA arbitration panel awarded the customer $702,000.

In 2012 a customer alleged Joseph Gunnar & Company breached its fiduciary duty, churned the customer’s account, failed to supervise its representatives, breached contract, and recommended an unsuitable investment. The complaint resulted in an award to the customer of more than $674,000.

In 2007 the National Association of Securities Dealers (NASD) sanctioned Joseph Gunnar & Company following allegations the firm permitted an individual to maintain his registration as a general securities representative through the firm despite his lack of involvement in its securities or investment banking activities. Joseph Gunnar & Company was censured and issued a fine of $35,000.

In 2006 a customer alleged Joseph Gunnar & Company breached its fiduciary duty, failed to supervise its representatives, made margin calls, and acted negligently. The complaint resulted in an award to the customer of $107,000.

In 2005 the NASD sanctioned Joseph Gunnar & Company following allegations, among others, the firm failed to expeditiously file certain forms, maintained an escrow account that did not accurately reflect the offering contingency, and failed to maintain its required net minimum capital. Joseph Gunnar & Company was censured and issued a fine of $20,000.

In 2003 a customer alleged Joseph Gunnar & Company breached its fiduciary duties, omitted material facts related to an investment, and failed to supervise its representatives. The complaint resulted in an award to the customer of $85,100.

In 2002 a customer alleged Joseph Gunnar & Company breached its fiduciary duty, misrepresented material facts related to an investment, breached contract, and executed unauthorized trades, The complaint resulted in an award to the customer of $45,300.

In 2002 a customer alleged Joseph Gunnar & Company breached its fiduciary duty, breached contract, failed to supervise its representatives, and acted negligently. The complaint resulted in an award to the customer of more than $121,000.

In 2002 a customer alleged Joseph Gunnar & Company churned the customer’s account, executed unauthorized trades, acted negligently, and recommended an unsuitable investment. The complaint resulted in an award to the customer of $2,700.

In 2002 a customer alleged Joseph Gunnar & Company breached contract, failed to supervise its representatives, made margin calls, and acted negligently. The complaint resulted in an award to the customer of more than $61,000.

If you have lost money investing with Joseph Gunnar & Company, 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 a contingency basis: Fitapelli Kurta only gets 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.