Investment Loss Claims Relating to Troy Jason Goldberg and William John Braun of National Securities in Boca Raton Have Been Filed
Two brokers and investment advisers formerly employed by National Securities Corporation in Boca Raton, have been the subject to numerous customer disputes, some of which remain pending, others of which have settled, and some of which resulted in awards for the complainants. The Levin Papantonio Rafferty law firm is investigating potential claims involving losses or unsuitable recommendations made by Troy Jason Goldberg, William John Braun, and/or National Securities. Customers who suffered losses may have a right to recover their losses.
Troy Jason Goldberg
Financial Industry Regulatory Authority’s (FINRA) BrokerCheck reports that Troy Jason Goldberg has been the subject of 13 customer disputes in his 27 years as a broker and investment adviser with eight firms.
Most recently, as a registered representative of National Securities Corporation, Goldberg reportedly has six pending customer disputes. All six complaints allege that the representative made unsuitable recommendations regarding private placements. Damages reported range from $65,000 to $200,000.
In September 2009, another customer dispute arising from Goldberg’s employment with Brookshire Securities, Inc., resulted in a FINRA arbitration proceeding. The dispute included allegations of negligence, unauthorized trading, churning, unsuitable recommendations, breach of fiduciary duty, and breach of contract with alleged damages of $45,000 at the close of the hearing. The Arbitration hearing resulted in an award wherein the FINRA arbitration Panel unanimously found Goldberg “liable for unsuitable recommendations and negligence” and ordered payment of compensatory damages totalling $11,500.
According to BrokerCheck, under Goldberg’s previous employment with other firms, FINRA received five other customer disputes involving the representative between 1994 and 2008. Reportedly, all these disputes have been settled for amounts between $30,000 and $165,000.
William John Braun
BrokerCheck also reports on William John Braun, who in his 36-year career as a broker and investment adviser has been the subject of one regulatory and eight customer disputes—seven of which are still pending. According to the FINRA source, Braun has also been known by other names, including Bill Braun, Williaim John Braun, and William Edmund Braun.
In June 1986, a formal proceeding initiated by the State of Wisconsin alleging that he sold unregistered securities sought Braun’s censure. He was ultimately sanctioned as a result of the state’s effort in December 1986.
Currently, six customer disputes involving Braun during his time of employment with National Securities Group are pending, according to BrokerCheck. Allegations in the disputes reportedly include:
- Unsuitable recommendations
- Breach of fiduciary duty
- Unsuitable recommendation with regard to a private placement
Alleged damages range from $65,000 to $200,000.
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FRS is a governmental body. FRS retained the services of Peter Mougey of the LP law firm in a multimillion dollar lawsuit involving extremely complex issues. Mr. Mougey quickly mastered the issues and gave advice that was vital in bringing about a successful resolution. Two of the most important features of Mr. Mougey’s representation was his understanding of government and his ability to communicate complicated legal concepts to a 10-member board of trustees in language that was easily understood by all. I did not know Mr. Mougey before FRS retained him and, fortunately, have not experienced circumstances where the system would need his services again. However, if needed, I would have no hesitation in retaining his services again. Please let me know if you need any additional information or assistance. Steven S.
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