NBC Clients Allege Misrepresentation, Unsuitable Trading In Disputes About Securities Broker Marcello Lattuca

Soreide Law Group has news to share with you regarding the Financial Industry Regulatory Authority (FINRA) BrokerCheck disclosures of securities broker Marcello Lattuca (CRD#: 2149434, Massapequa, New York). Namely, four investors disputed Lattuca’s sales practices, and clients brought three disputes in 2020. It appears that three NBC Securities clients and a JHS Capital Advisors client alleged sales practice violations by him. Here’s more on what those investors relay in these disputes about Lattuca.

NBC Securities Client Alleges Breach Of Contract, Churning In Dispute About Marcello Lattuca

Evidently, Marcello Lattuca joined NBC Securities as a securities broker in 2015. One of his clients brought a dispute alleging sales practice violations by the securities broker. The May 2020 FINRA Arbitration Claim first contains an allegation of unsuitable recommendations. Supposedly, Lattuca inappropriately advised the client regarding stock and real estate security transactions.

Secondly, the client alleged misrepresentation. Thirdly, Lattuca supposedly churned the client’s account. Fourthly, the claim alleges breach of contract and breach of fiduciary duty. Finally, NBC Securities is accused of failing to supervise the broker regarding these transactions. It seems that the client experienced losses by March of 2020 because of Marcello Lattuca. For this reason, they asked for compensation. Evidently, NBC Securities agreed to settle this matter by making a $60,000 payment to this client in March 2021.

Lattuca’s Client Alleges Unsuitable Recommendations, Misrepresentation In FINRA Arbitration Claim

Also, a client of NBC Securities lodged a FINRA Arbitration Claim about Marcello Lattuca in May 2020. Supposedly, the client received bad investment advice and misrepresented information from Lattuca. In addition, the broker allegedly breached a fiduciary responsibility and breached an agreement with the client relating to their investments in real estate securities and stocks. Moreover, the client alleged elder abuse and negligent supervision by NBC Securities. For losses the client sustained between 2012 and 2020, they demanded compensation. Evidently, NBC resolved this lawsuit in March 2021 by paying the client $75,000.

Client Of NBC Securities, JHS Capital Advisors Accuses Marcello Lattuca Of Churning

Moreover, a client of both JHS Capital Advisors and NBC Securities disputed Marcello Lattuca’s actions in a May 2020 dispute. This claim concerns investments in corporate bonds, government bonds, direct investments (DPPs, LPs), equities, stocks, mutual funds, real estate securities (REITs), and unit investment trusts (UITs). Allegations include poor advice, misrepresentation, breach of contract, churning, breach of fiduciary duty, and negligent supervision. Notably, the client identified Lattuca in the arbitration as having caused the client damages on these alleged sales practice violations. Evidently, to settle this matter, the client accepted $337,500 in compensation from the securities firm(s) in March 2021.

Losses Through Lattuca?

Did you suffer losses because of Marcello Lattuca? If so, call Soreide Law Group at (888) 760-6552 and speak with a helpful 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 substantial compensation for hundreds of United States investors who have incurred losses because of their financial advisors and securities brokers. Please note that Lattuca denies all allegations of his sales practice violations.

Lars Soreide AVVO 2020 Top Lawyer

CONTACT US