Soreide Law Group has filed a FINRA arbitration on behalf of our client (Claimant) against:
NEWBRIDGE SECURITIES CORPORATION. and their former registered representative,
WILLIAM LAPIANA.
WILLIAM LAPIANA (BILL LAPIANA) was registered both as a broker and as an investment advisor with NEWBRIDGE SECURITIES of New York, NY from 02/13/2009 - 06/25/2024. BILL LAPIANA is currently registered as a broker and an investment advisor with AUSDAL FINANCIAL PARTNERS, INC. of New York, NY since 6/21/2024.
The Claimant who resides in New York, brings this lawsuit against NEWBRIDGE SECURITIES CORPORATION and its former registered representative, WILLIAM LAPIANA for allegedly concentrating a substantial portion of the proceeds from the Claimant's business sale into complex, speculative, and illiquid alternative investments. According to the lawsuit, the principal investments at issue are the purchase of Shopoff DLV Qualified Opportunity Zone Fund and Urban Catalyst.
The lawsuit alleges that the Claimant told WILLIAM LAPIANA that he wanted the proceeds from the sale of his family business to generate dependable monthly income, while obtaining some lawful deferral of capital-gains taxes. Allegedly, LAPIANA recommended a series of private placements and other alternative investments that restricted access to principal, lacked reliable secondary markets, depended on sponsor-controlled exit events or discretionary repurchase programs, and exposed the Claimant to uncertain valuations and loss of capital.
According to the lawsuit, the Claimant alleges certain issues such as commissions, dealer-manager fees, due-diligence allowances, marketing reimbursements, trails, and other compensation that NEWBRIDGE and LAPIANA received or expected to receive from the challenged recommendations were not discussed.
The lawsuit alleges violation of Regulation Best Interest and Federal securities standards, breach of fiduciary duty, negligence and professional negligence, negligent misrepresentation and omission, breach of contract, failure to supervise, and unjust enrichment and disgorgement. The Client is alleging approximately $500,000.00 loss.
According to FINRA’s BrokerCheck, available to the public on FINRA’s website, WILLIAM LAPIANA has been in the securities industry for twenty-four years and has been listed with nine firms. LAPIANA has three disclosures on his FINRA CRD report, all three disclosures are “Customer Disputes,” with two that are pending and one that has settled.
The latest “Customer Dispute” filed against WILLIAM LAPIANA dated 6/11/2026 is requesting $884,000.00 in damages. The allegations are, “Violations of Federal Securities laws, Violation of New York consumer protection act; Violation of the New Jersey Uniform securities law; Breach of contract; Common Law Fraud; Negligence and Gross Negligence related to purchases in 2021 while Mr. LaPiana was registered with another firm.”
Soreide Law Group posted the following article to our blog on March 21, 2026:
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Soreide Law Group has filed a FINRA arbitration on behalf of our client (Claimant) against: NEWBRIDGE SECURITIES CORPORATION. and their former registered representative, WILLIAM LAPIANA. WILLIAM LAPIANA (BILL LAPIANA) was registered both as a broker and as an investment advisor with NEWBRIDGE SECURITIES of New York, NY from 02/13/2009 - 06/25/2024. BILL LAPIANA is currently […]
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