Former New York-based Credit Suisse Securities broker Christopher Flaten is the subject of settled or pending customer complaints. The securities and investment fraud law firm Fitapelli Kurta is investigating allegations against Mr. Flaten (CRD# 3255290).
Christopher Flaten has spent fifteen years in the securities industry and was most recently registered with Credit Suisse Securities in New York, New York (2007-2016). Previous registrations include Stone & Youngberg in New York, New York (2005-2007) and Charles Schwab & Company in San Francisco, California (2000-2005). He is currently not registered with any state or firm.
According to his BrokerCheck report, Christopher Flaten is the subject of one customer complaint and one pending customer complaint.
In 2011 a customer alleged Christopher Flaten, while employed at Charles Schwab & Company, recommended an unsuitable purchase of $100,000 of a Massachusetts general obligation auction rate security (ARS). The customer is seeking $74,999 in damages in the pending complaint.
In 2009 a customer alleged Christopher Flaten, while employed at Charles Schwab & Company, misrepresented material facts related to an investment. The complaint settled in 2010 for $5,000.
Federal securities law prohibits brokers like Christopher Flaten from making untrue or false statements that can mislead their clients — an act referred to as “misrepresentation.” This also includes omitting material facts regarding an investment, or the effect that an investment could have on the client’s finances. A “material fact” is a piece of information that would be a significant consideration for a reasonable investor in making a decision about an investment. Some examples include the risk level of a stock, the potential return on an investment, or the fees involved with the transaction. Brokers and investment advisers who misrepresent material facts may be subject to disciplinary action from FINRA, the Securities and Exchange Commission, or state authorities
If you have complaints regarding Christopher Flaten, call the securities and investment fraud law firm Fitapelli Kurta at 877-238-4175 for a free consultation. You may be entitled to recoup your losses. All cases are taken on a contingency basis: Fitapelli Kurta only receives payment if and when you recover money. You may have a limited window to file your complaint, so we encourage you to avoid delay. Call 877-238-4175 now to speak to an attorney for free.
This article is based on publicly available information provided by FINRA on April 7, 2016.