Aegis Capital Corporation Terminates Mickey Schreiber

Soreide Law Group is investigating possible investor claims against securities broker Mickey Schreiber (also known as M.B. Schreiber) (CRD: 1032600, Red Bank, New Jersey. Specifically, Aegis Capital Corporation permitted Schreiber to resign amid allegations of his misconduct. Not only that, but FINRA sanctioned him and investors complained about him. Here is a brief summary of the allegations against Schreiber.

Aegis Capital Corporation Terminates Schreiber For Regulatory Enforcement Action

Evidently, on November 18, 2022, Aegis Capital Corporation disaffiliated with Schreiber. Specifically, Aegis Capital Corporation alleged that Schreiber was the subject of a regulatory enforcement action resulting in sanctions.

FINRA Sanctions Mickey Schreiber

Particularly, on October 31, 2022, FINRA issued Case: 2020065693301, sanctioning Mickey Schreiber for infractions. Specifically, Schreiber agreed to pay a $5,000 fine and serve a three-month suspension as securities broker. Notably, FINRA alleged that Schreiber engaged in discretionary trading and mismarked trade tickets. Supposedly, the clients and the securities firm never provided written authorization for Schreiber to engage in this type of trading.

Aegis Capital Corporation Investor Accuses Schreiber Of Breach Of Contract

Additionally, on March 21, 2022, an Aegis Capital Corporation client filed FINRA Arbitration: 22-00597 about Mickey Schreiber. Namely, the client alleged that Schreiber made unsuitable recommendations and breached a contract. Because of this, the client allegedly sustained damages on common stocks and preferred stocks. Therefore, the client requested compensation from Aegis Capital Corporation or Schreiber. Evidently, this arbitration is pending a resolution.

Mickey Schreiber Discloses Unauthorized Trading Allegations By Aegis Capital Corporation Client

Also, a client of Aegis Capital Corporation contested Mickey Schreiber’s sales practices by filing FINRA Arbitration: 20-00477. Allegedly, Schreiber gave unsuitable advice, engaged in unauthorized trading, churned accounts, made misrepresentations, was negligent, breached a contract, breached a fiduciary duty, and made omissions. It appears that Schreiber possibly caused the client to sustain damages. Therefore, Aegis Capital Corporation opted to settle the matter on March 23, 2020, by compensating the client in the amount of $40,000.

Concorde Equities Investor Accuses Schreiber Of Unsuitable Trading

Evidently, on July 29, 2002, a Concorde Equities client filed a complaint about Mickey Schreiber. Namely, the client alleged that Schreiber engaged in unsuitable trading. Because of this, the client allegedly sustained damages on over-the-counter equities. Therefore, the client requested $155,500 in compensation from Concorde Equities or Schreiber. However, the securities firm denied this complaint.

Recent Employment Information

• Schreiber stopped working for Aegis Capital Corporation on November 18, 2022.

Damages Resulting From Aegis Capital Corporation Securities Broker Mickey Schreiber?

Did you suffer damages by investing with Mickey Schreiber? If so, contact Soreide Law Group at (888) 760-6552 and talk with a securities attorney about a possible recovery of your investment losses. Soreide Law Group, who has successfully recovered losses for investors across the United States, represents clients on a contingency fee basis and advances all costs. Schreiber and brokerage firms Schreiber worked for deny any and all allegations of sales practice violations.