ustomers File Claims Against Laidlaw & Company For Churning
Laidlaw & Company (UK) Ltd. (CRD#: 119037, New York, New York) is a Financial Industry Regulatory Authority (“FINRA”) member brokerage firm who has reported five regulatory events in regard to allegations of its violations of investment-related regulations or rules. Also, Laidlaw & Company has disclosed at least two FINRA arbitration awards which were entered against the firm after it was found to have harmed investors. Furthermore, Laidlaw & Company representatives, including Devin Michael McCabe, Jonathan Michael Ebel, Joseph W. Rozof and Steven Mackie Woods, have disclosed customer-initiated investment-related disputes that contain allegations against the representatives or the firm of bad sales practices.
May 15, 2018 FINRA Arbitration Involving Laidlaw & Company, Devin Michael McCabe
Devin Michael McCabe (CRD#: 5645799, Fort Lauderdale, Florida) was a Laidlaw & Company registered representative from November 12, 2013 to August 1, 2017. On May 15, 2018, a customer of Laidlaw & Company filed FINRA Arbitration #18-01736 in reference to McCabe’s alleged faulty sales practices from 2015 to 2017. First, the customer alleged that McCabe churned the customer’s brokerage account. Second, the customer contended that McCabe made unauthorized stock trades in the customer’s account. Third, the customer claimed that McCabe made trades that were not reasonable for the customer. Because of the allegations of unsuitability, unauthorized trading and churning, the customer has demanded $25,413.00 in damages. FINRA Arbitration #18-01736 is still underway. Ever since July 3, 2017, McCabe has been registered with Westpark Capital, Inc.
Laidlaw & Company’s Jonathan Michael Ebel Discloses May 22, 2018 FINRA Arbitration
Jonathan Michael Ebel (CRD#: 5902719, Melville, New York) is presently registered with Laidlaw & Company. Ebel’s FINRA BrokerCheck Report shows that a Laidlaw & Company customer filed FINRA Arbitration #18-01855 on May 22, 2018 to contest the firm and Ebel’s trading mishaps. According to the customer, Ebel made excessive trades in the customer’s account between 2016 and 2018. Also, the customer claimed that Ebel made unsuitable stock trades in the customer’s account. Evidently, Ebel personally agreed to pay the customer $30,000.00 on September 7, 2018 to settle the customer’s allegations of unsuitability and excessive trading. Prior to joining Laidlaw & Company on March 13, 2015, Ebel was a registered representative of Rockwell Global Capital LLC (July 31, 2012 to March 18, 2015).
July 30, 2018 FINRA Arbitration Involving Laidlaw & Company, Joseph W. Rozof
Joseph W. Rozof (CRD#: 5274784, New York, New York) is another former registered representative of Laidlaw & Company who disclosed a customer dispute. Records show that on July 30, 2018, a Laidlaw & Company customer filed FINRA Arbitration #18-02628. Between October 2007 and February 2018, the customer stated, Rozof caused or contributed to the customer’s account being churned and excessively traded. Secondly, the customer contended that the terms and conditions of investments had been misrepresented. And as indicated in the Arbitration, the private placements and over-the-counter equities products were not suitable for the customer.
Apparently, the customer has demanded a total of $228,128.47 in damages to resolve the allegations of misrepresentation, unsuitability, churning and excessive trading. However, Rozof has denied the customer’s allegations. The claim has yet to be resolved. Evidently, Rozof’s employment arrangement with Laidlaw & Company ended on February 3, 2016. He has since worked for National Securities Corporation (July 6, 2016 to May 25, 2017) and Aegis Capital Corp. (May 2, 2017 – present).
Laidlaw & Company, Steven Mackie Woods referenced in May 15, 2018 FINRA Arbitration
Steven Mackie Woods (CRD#: 5715598, New York, New York), who is a former registered representative of Laidlaw & Company, is referred to in a customer’s filing of FINRA Arbitration #18-01736 on May 15, 2018. The customer’s causes of action include unsuitable trading, unauthorized trading and churning. Records show that the sales practice violations took place from 2015 to 2017, and pertained to the customer’s stock investments. Laidlaw & Company disclosed that the customer has requested $157,588.00 in damages in order to remedy the issue. This matter is pending. Woods is no longer registered with Laidlaw & Company as of July 18, 2017. He became a Worden Capital Management LLC registered representative on July 31, 2017.
Investors who have sustained losses from Laidlaw & Company brokers including Devin Michael McCabe, Jonathan Michael Ebel, Joseph W. Rozof and Steven Mackie Woods are welcome to contact Soreide Law Group at (888) 760-6552 for a free consultation. Our firm has recovered millions of dollars for investors who have suffered losses. We represent clients on a contingency fee basis and advance all costs.