Soreide Law Group Files Three FINRA Arbitrations for Clients Against Meyers Associates L.P.

Soreide Law Group (888-760-6552) currently has three pending FINRA arbitrations against the firm of Meyers Associates, LP.
In other actions, on February 19, 2016, the Financial Industry Regulatory Authority (FINRA) announced that it barred broker George Johnson from the securities industry for allegedly engaging in a manipulative trading scheme to artificially inflate the market price and trading volume for the common stock of IceWEB, Inc. ( IWEB).
Also, FINRA sanctioned Christopher Wynne, Johnson's supervisor at the time, and suspended him for two years in all capacities, barring him from a principal capacity, and fining him $25,000.
Joseph Mahalick, a broker who had worked with Johnson and Wynne, was suspended for six months and fined $20,000. Allegedly Mahalick falsified firm records and has been barred from the securities industry in a separate action.
Johnson, Wynne and Mahalick all were employed with Meyers Associates L.P. in the firm's Chicago branch office during the time period of the misconduct.
FINRA found that within an eight-day period, Johnson manipulated the market for IWEB by recommending that certain of his clients buy at increasingly higher and artificially inflated prices while also recommending his other clients sell their shares.
Also, FINRA discovered that allegedly Johnson and Wynne sent clients IWEB sales materials that omitted information concerning material conflicts of interest and material risks concerning IWEB's business, and contained misleading information.
FINRA's investigation found that to allegedly cover up Johnson's violations of state securities registration requirements, Johnson, Mahalick and Wynne agreed to the entering false information on more than 100 order memoranda, indicating that either Wynne or Mahalick was responsible for the account or transactions, instead of Johnson.
Soreide Law Group has currently filed three FINRA arbitrations against Meyers Associates L.P. If you have also been a client with any of the previously named brokers, or any other brokers associated with Meyers Associates L.P, and have experienced losses due to your broker’s recommendations, call for a no-cost consultation with a lawyer on how to possibly recover your losses at: 888-760-6552.
Soreide Law Group represents clients nationwide in FINRA arbitrations.