Investors might have sustained losses because of securities broker Stefan Ara Shimshidian [CRD: 3043669, White Plains, New York], according to disclosures on Financial Industry Regulatory Authority (FINRA) BrokerCheck. Evidently, Shimshidian joined Cabot Lodge Securities LLC on June 29, 2013. Continue reading to learn more about Shimshidian's disclosures.
Also, on July 13, 2023, a Cabot Lodge Securities LLC client filed FINRA Arbitration: 23-01977 about Stefan Shimshidian. Notably, the claim alleged negligence and negligent misrepresentation, breach of fiduciary duty, failure to supervise, breach of contract, and violation of Regulation Best Interest regarding their investment in private placements. Because of this, the client allegedly sustained damages. Consequently, the client requested $171,500 in compensation from Cabot Lodge Securities LLC or Shimshidian. Evidently, this arbitration is pending a resolution.
Particularly, a client of Cabot Lodge Securities LLC contested Stefan Shimshidian’s sales practices by filing FINRA Arbitration: 22-01928. Notably, the claim alleged breach of contract, violations of federal and state securities laws, breach of fiduciary duty, and gross negligence with regards to investment in GWG L-bonds. It appears that Shimshidian caused the client to sustain damages on private placements. For this reason, Cabot Lodge Securities LLC opted to settle the matter on November 16, 2023, by compensating the client in the amount of $134,820.
Did you experience losses because of Stefan Shimshidian? If so, reach out to Soreide Law Group online or at (888) 760-6552 and talk with a securities attorney concerning a potential recovery of your investment losses. Soreide Law Group has recovered losses for investors throughout the United States, works on a contingency fee basis, and advances all costs. Shimshidian and brokerage firms Cabot Lodge Securities LLC deny accusations of sales practice violations.
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