The Financial Industry Regulatory Authority (FINRA) confirms through BrokerCheck that five investors filed disputes about securities broker Lee Evan Rosenberg (CRD#: 1010402, Jericho, New York). Evidently, Rosenberg worked for securities firm Cadaret Grant beginning in 1988 and currently works as a securities broker and financial advisor. Rosenberg also holds a position at American Investment Planners LLC, an investment advisory. Client disputes, which are the focus of this article, concern Rosenberg’s actions at Cadaret Grant. Read below for more information.
Evidently, in December 2019, Rosenberg became involved in a dispute over a variable annuity transaction. Supposedly, while at Cadaret Grant, Rosenberg sold the client an unsuitable investment, causing damages to the client. For this reason, the client asked for compensation. Cadaret Grant, without admitting or denying the client’s allegations, opted to settle the matter by paying $30,000 to the client in October 2020.
It appears that a client took issue concerning an AXA Accumulator Plus Variable Annuity, which Lee Rosenberg appears to have sold or recommended. Supposedly, Rosenberg did not clarify that the client’s income benefit (the GMIB rider) would be impacted by withdrawals. It appears that to settle this matter, Cadaret Grant compensated the client in the amount of $180,000 in November 2017.
BrokerCheck also indicates that a Cadaret Grant client brought a dispute about Rosenberg. The complaint alleges that Rosenberg failed to follow instructions. It seems that this caused the client to experience damages on over-the-counter equities, municipal bonds, corporate bonds, mutual funds, and unit investment trusts (UITs). For this reason, the client received $450,000 in compensation in settlement of this matter.
The fourth dispute on BrokerCheck concerns a client’s investments at Cadaret Grant. Supposedly, Lee Rosenberg engaged in unauthorized trading. The client contends that Rosenberg caused them to experience damages on equities, which might have included common stock shares or preferred stock shares. For this reason, the client asked for $650,000 in compensation. However, Cadaret Grant denied the client’s complaint.
Did Lee Rosenberg cause you to experience losses? If so, call Soreide Law Group at (888) 760-6552 and speak with a 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 compensation for many United States investors who incurred losses because of their financial advisors and securities brokers. Please note that Rosenberg denies all allegations of his sales practice violations.
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