Investors might have sustained losses because of securities broker Louis Joseph Pellegriti [CRD: 5891855, New York, New York], according to disclosures on the Financial Industry Regulatory Authority (FINRA) BrokerCheck. Evidently, Louis Pellegriti worked for Spartan Capital Securities LLC from August 15, 2017, to January 8, 2019, and earlier with Worden Capital Management LLC from November 4, 2016, to September 7, 2017. Keep reading to learn more about the specific disputes involving Louis Pellegriti.
Specifically, a Spartan Capital Management LLC client filed FINRA Arbitration No. 21-02950 alleging unsuitable trading, churning, misrepresentation, breach of fiduciary duty, and unauthorized trading concerning private placements and stocks. Allegedly, this led to losses totaling $13,028.70. As a result, on October 31, 2023, Spartan Capital Management LLC settled this matter by paying the client $500,000 in damages.
Also, a Spartan Capital Securities LLC client filed FINRA Arbitration No. 22-02719 about Louis Pellegriti. Supposedly, Pellegriti engaged in churning, misrepresentation, breach of fiduciary duty, and unauthorized trading. Therefore, on June 9, 2023, a FINRA Arbitration Panel issued an Award ordering Pellegriti to pay the client $13,025.90 in compensatory damages.
In addition, a client of Spartan Capital Securities LLC contested Louis Pellegriti’s sales practices by filing FINRA Arbitration No. 21-00020. Allegedly, Pellegriti was negligent and breached his fiduciary duty, leading to unsuitable alternative investments. As a result, Spartan Capital Securities LLC opted to settle the matter on March 14, 2022, by compensating the client in the amount of $5,000.
Particularly, on August 6, 2014, a Legend Securities Inc. client filed a complaint about Louis Pellegriti. Supposedly, Pellegriti charged excessive commission and made unsuitable recommendations. The client allegedly experienced losses on stocks and real estate securities. Therefore, the client requested $20,000 in compensation from Legend Securities Inc. or Pellegriti. This complaint closed without a resolution.
Also, a client of Joseph Gunnar Co. LLC contested Louis Pellegriti's sales practices, according to a complaint dated July 8, 2013. Allegedly, Pellegriti made misrepresentations relating to stocks. So, the client sought compensation from Joseph Gunnar Co. LLC or Pellegriti in the amount of $16,097 in this matter. This complaint closed without a resolution.
Suffered losses because of any sales practice violation by financial advisor / securities broker Louis Pellegriti? If so, get in touch with Soreide Law Group online or at (888) 760-6552 so you can talk to a securities attorney concerning a potential recovery of your investment losses. Soreide Law Group has recovered losses for investors throughout the United States, represents investors through contingency fees, and advances all costs. Pellegriti and the brokerage firms he worked for deny accusations of sales practice violations.
JOSEPH KELLY (JOE KELLY) has been registered as a broker with VCS VENTURE SECURITIES of New York, NY since 6/17/2026. He was previously registered with SPARTAN CAPITAL SECURITIES LLC of New York, NY from 01/13/2017 - 12/18/2024. According to FINRA’s BrokerCheck, available to the public on FINRA’s website, JOSEPH KELLY has 21 years of experience […]
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