Soreide Law Group is currently investigating broker, Stephen James Sullivan (CRD#: 3123249), currently with Spartan Capital Securities of Garden City, New York since November 1, 2019.
According to FINRA’s BrokerCheck, available to the public on FINRA’s website, Stephen James Sullivan has been in the securities industry for 23 years and has been listed with 14 firms. He has 8 Disclosures on his FINRA CRD report, 3 are “Customer Disputes.” One customer dispute was denied and two have settled.
On October 10, 2019, a dispute settled following these allegations, “CLAIMANT ALLEGED EXCESSIVE TRADING, UNAUTHORIZED TRADING, AND UNSUITABLE TRANSACTIONS WERE EXECUTED IN ACCOUNT. ALSO ALLEGED WERE FRAUD, NEGLIGENCE, BREACH OF CONTRACT, AND BREACH OF FIDUCIARY DUTY. ALLEGED ACTIVITIES OCCURRED BETWEEN AUGUST, 2018 and OCTOBER, 2018.” The settlement amount was $39,998.00.
On August 10, 2021, a dispute was settled for $30,000.00 alleging, “Claimant alleges: excessive trading, unauthorized trading, unsuitability, breach of contract, breach of fiduciary duties, negligence.” Stephen James Sullivan denies involvement in the lawsuit.
Also on BrokerCheck, one of the disclosures was an “Investigation,” dated August 10, 2021. An investigation was initiated by FINRA, with the description of the investigation as follows, “FINRA Case #20190619526. On August 10, 2021, FINRA made a preliminary determination to recommend that disciplinary action be brought against Stephen Sullivan alleging violations of Section 10(b) of the Exchange Act, Exchange Act Rule 10b-5, and FINRA Rules 2020 and 2010 for churning customer accounts; violations of FINRA Rules 2111(a) and 2010 for quantitative suitability and/or excessive trading in customer accounts; and violations of FINRA Rules 2111(a) and 2010 for reasonable basis suitability for recommending an unsuitable investment strategy to customers.”
Stephen James Sullivan is currently listed with:
SPARTAN CAPITAL SECURITIES, LLC
595 STEWART AVENUE, 8TH FLOOR
GARDEN CITY, NY 11530
Sullivan was previously listed with:
05/08/2018 - 12/02/2019 SW FINANCIAL - MELVILLE, NY
11/29/2017 - 05/08/2018 WORDEN CAPITAL MANAGEMENT LLC - Melville, NY
If you’ve experienced investment losses due to the actions or recommendations of Stephen James Sullivan currently with Spartan Capital Securities of Garden City, New York, contact Soreide Law Group and speak to an experienced securities lawyer at no cost regarding the possible recovery of your financial losses through a FINRA arbitration at: 888-760-6552.
Soreide Law Group works on a contingency fee basis and represents our clients nationwide before FINRA.
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