The Financial Industry Regulatory Authority (“FINRA”) reports important information regarding securities broker Cory David Bataan (CRD#: 2755223, Melville, New York). Notably, the securities broker, who worked for Aegis Capital Corp from 2012 to 2019, is involved in investor disputes involving clients of that firm. Not only that, but FINRA issued a fine to Bataan to resolve allegations against him of discretionary trading without written authorization. Let’s take a closer look at these disclosures.
Notably, a client of Aegis Capital Corp disputed Bataan’s sales practices. In this January 2020 FINRA Arbitration Claim, the client first alleged that Bataan made excessive trades. Secondly, the securities broker is accused of unsuitable trading and making misleading and false statements to the client. For this reason, Aegis Capital Corp opted to settle this dispute through making a $57,500 payment to the client in April 2021.
Evidently, Cory Bataan agreed to a fine and suspension from FINRA in February 2018. This was to resolve allegations that he made discretionary trades without written authorization which was a FINRA rule violation. It appears that Bataan did not get the appropriate authorization to trade without first speaking to clients on the days he made the trades. Bataan satisfied the suspension and paid the fine in 2018.
It appears that an Aegis Capital Corp client came forward in 2015 to dispute Cory Bataan’s sales practices. Specifically, the Aegis client’s FINRA Arbitration Claim alleges that Bataan made unsuitable recommendations. Not only that, but the securities broker allegedly charged excessive fees and commissions. Evidently, Aegis Capital Corp opted to resolve this matter through paying the client $25,000 in August 2015.
Evidently, a third client of Aegis Capital Corp filed a lawsuit in 2015 regarding Cory Bataan’s stock trading. Namely, the client contended that there was churning and unsuitable trading in the client’s account. In addition, the client alleged breach of fiduciary duty and unauthorized trading. For this reason, the client received $45,000 in a September 2016 settlement.
Did you lose money or incur damages because of Aegis securities broker Cory Bataan? If so, call Soreide Law Group at (888) 760-6552 and speak with an experienced securities lawyer about a potential recovery of your losses. Soreide Law Group represents clients on a contingency fee basis and advances all costs. The firm has recovered millions of dollars for investors who have sustained losses because of their financial advisors and securities brokers. Please note that Bataan denies all allegations of his sales practice violations.
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