Investors possibly experienced losses because of securities broker Kyle M. Wool [CRD: 4238101, New York, New York], according to disclosures on Financial Industry Regulatory Authority (FINRA) BrokerCheck. Evidently, Kyle Wool worked for various firms, including Morgan Stanley from May 6, 2013, to February 18, 2021, Revere Securities LLC from January 20, 2021, to April 12, 2023, and Dominari Securities LLC since April 18, 2023. Below, investors can find a summary about the investor disputes involving Wool.
Particularly, a Morgan Stanley Smith Barney client filed FINRA Arbitration No. 23-02245 about Kyle Wool. Mainly, the client alleged unauthorized trading. Because of this, the investor supposedly sustained damages of $50,000. As a result, on December 18, 2023, Morgan Stanley Smith Barney settled this matter by paying the client $50,000 in damages.
Specifically, a client of Oppenheimer Co. Inc. contested Kyle Wool's sales practices by filing FINRA Arbitration No. 09-06233. Notably, the investor alleged unsuitable recommendations, misrepresentation, and churning. Allegedly, Wool caused the client to sustain damages on options. Consequently, Oppenheimer Co. Inc. opted to settle the matter on March 11, 2011, by compensating the client in the amount of $337,500.
Also, on June 18, 2008, an Oppenheimer Co. Inc. client filed a complaint about Kyle Wool. Evidently, the client alleged unauthorized transactions. Because of this, the investor supposedly sustained damages on stocks. Therefore, they requested $438,254.87 in compensation from Oppenheimer Co. Inc. or Wool. However, the firm denied the complaint.
Particularly, a client of Raymond James Financial Services Inc. contested Kyle Wool’s sales practices, according to a complaint dated April 26, 2005. Supposedly, the investor asked for safe investments but invested in over-the-counter equities. Allegedly, Wool allegedly caused the client to sustain damages. As a result, they sought damages from Raymond James Financial Services Inc. or Wool in the amount of $120,000 in this matter. However, the firm denied this complaint.
Did you experience losses because of Kyle Wool? You could get in touch with Soreide Law Group online or at (888) 760-6552 and speak to a securities lawyer about a potential recovery of your investment losses. Soreide Law Group has recovered losses for investors throughout the United States, works on a contingency fee basis, and advances all costs. Wool and the brokerage firms Wool worked for deny accusations of sales practice violations.
Soreide Law Group has filed a FINRA arbitration on behalf of our clients (Claimants) against: CONCORDE INVESTMENTS SERVICES, LLC, and BERTHEL, FISHER & COMPANY FINANCIAL SERVICES, INC (Respondents). The Claimants are in their late 70s, retired, and according to the lawsuit, were not looking to take any unnecessary risks with their retirement savings. The Claimants […]
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