Aegis Capital

There are Recent Customer Complaints with Broker Jerome Messana in Firm Aegis Capital CORP.

April 22, 2025 | by Staff Attorney

According to BrokerCheck records kept by The Financial Industry Regulatory Authority (FINRA) broker Jerome Messana (Messana), currently associated with Aegis Capital Corp., has been subject to at least 2 disclosable events. These events include 2 customer complaints. Several of those complaints against Messana concern allegations of high frequency trading activity also referred to as churning or excessive trading among other securities laws violations.

FINRA BrokerCheck shows a settled customer complaint with a damage request of $300,000.00 on July 19, 2024.

From approximately 1/2009 – 10/2021 customer claims suitability, churning, unauthorized trading, failure to supervise, fraud & misrepresentation (Violations of Securities Law), unjust enrichment, lost opportunity damages, punitive damages and unsuitable use of margin. Note that the customer does not specify any trade dates or products so the dates the account was opened was provided along with the general type of securities purchased and sold.

Aegis Capital Accused of Harming Investors Out of at Least $5 Billion

July 13, 2024 | by Staff Attorney

The securities lawyers of Gana Weinstein LLP are investigating claims made by SLCG Economic Consulting LLC that Aegis Capital, a broker-dealer, routinely serves as underwriter for dubious stock offerings that cost investors billions. SLCG starts off by calling Aegis one of the worst retail brokerage firms based on complaints and a firm that investors should avoid it at all costs. Our firm has represented a large number of investors in claims against the firm over the years.

SLCG claims that since 2010, Aegis has been the sole underwriter of 186 offerings for 111 issuers totaling $1.9 billion. The article further claims that Aegis underwrites stocks issued by small companies on the verge of delisting or bankruptcy and that Aegis’s underwriting peddles worthless stock to its customers and to the customers of other brokerage firms. SLCG further claims that Aegis provides inflated research analyst coverage for many of the stocks it underwrote and aggressive buy recommendations with unrealistic price targets.

SLCG also provided statistics to back up its findings stating:

Advisor Anthony Tricario Accused of Churning and Sanctioned By Financial Regulator

January 22, 2023 | by Staff Attorney

According to BrokerCheck records kept by The Financial Industry Regulatory Authority (FINRA) broker Anthony Tricario (Tricario), formerly associated with Aegis Capital Corp. (Aegis), has been subject to at least three customer complaints and three regulatory complaints during his career. Several of those complaints against Tricario concern allegations of high frequency trading activity also referred to as churning or excessive trading among other securities laws violations.

In January 2021, FINRA suspended Tricario, finding that he consented to findings that he executed trades in customers’ accounts that were excessive and quantitatively unsuitable given the customers’ investment profiles. Tricarico’s trading in the accounts of three of his firms’ customers generated high cost-to-equity ratios and turnover rates as well as significant losses and commissions. Continue Reading

Advisor Matthew Gaer Claimed to Have Provided Unsuitable Investment Advice

August 29, 2022 | by Staff Attorney

The attorneys at Gana Weinstein LLP are investigating BrokerCheck records reports that broker Matthew Steven Gaer (Gaer), currently employed by Aegis Capital Corporation (Aegis) has been subject to at least two customer complaints during the course of his career. According to records kept by The Financial Industry Regulatory Authority (FINRA), Gaer’s customer complaints alleges that Gaer recommended unsuitable investments in various investments, among other allegations of misconduct relating to the handling of their accounts.

In April 2020, a customer complained that Gaer violated the securities laws by alleging that Gaer engaged in breach of fiduciary duty, and breach of contract. The damage amount requested was $150,000. The claim was later withdrawn.

In September 2019, a customer complained that Gaer violated the securities laws by alleging that Gaer engaged in unsuitable investment advice within the customer’s retirement account. The damage amount requested was $50,000. The claim settled in the amount of $14,999.

Aegis Capital Advisor Johnny Guan Has Investor Complaints

October 25, 2021 | by Staff Attorney

The attorneys at Gana Weinstein LLP are investigating BrokerCheck records reports that financial advisor Johnny Guan (Guan), currently employed by Aegis Capital Corp. (Aegis Capital) has been subject to at least two customer complaints during the course of his career. According to records kept by The Financial Industry Regulatory Authority (FINRA), Mr. Guan’s customer complaints alleges that Mr. Guan recommended unsuitable investments in various investments including allegations involving real estate securities, options, and penny stocks, among other allegations of misconduct relating to the handling of their accounts

In December 2019, a customer complained that Mr. Guan violated the securities laws by alleging that Mr. Guan engaged in negligent investment advice, breach of fiduciary duty, and unauthorized transactions. The claim settled in the amount of $5,400.

In April 2016, a customer complained that Mr. Guan violated the securities laws by alleging that Mr. Guan engaged in unsuitable investment advice, negligence, and material misrepresentations. The claim settled in the amount of $7,200.

Advisor Joseph Hain Has Complaints Over Private Placement Reccommendations

February 22, 2021 | by Staff Attorney

According to records kept by The Financial Industry Regulatory Authority (FINRA) financial advisor Joseph Hain (Hain), currently employed by Noble Capital Markets, Inc. has been subject to at least two customer complaints during the course of his career. Hain’s customer complaints alleges that Hain misrepresented private placement investments among other allegations of misconduct relating to the handling of their accounts.

At Gana Weinstein LLP, we often hear from investors who were recommended by their advisors to purchase high risk private placement investments and suffered substantial – often crushing losses as a result. Our firm regularly represents these investors in disputes with the advisors and brokers who sold these products without adequate disclosure. Brokers have a responsibility to conduct due diligence on all private placement offerings. Due diligence includes an investigation into the investment’s properties including its benefits, risks, tax consequences, issuer, history, and other relevant factors.

In January 2020 a customer complained that Hain violated the securities laws by alleging that Hain made investments recommendations that were materially misrepresented concerning an investment in a private placement. The claim alleges $500,000 in damages and is currently pending.

Aegis Capital Advisor Thomas Duggan Has Suitability Customer Complaints

February 15, 2021 | by Staff Attorney

The attorneys at Gana Weinstein LLP are investigating BrokerCheck records reports that financial advisor Thomas Duggan (Duggan), currently employed by Aegis Capital Corp. (Aegis Capital) has been subject to at least three customer complaints during the course of his career. According to records kept by The Financial Industry Regulatory Authority (FINRA), Duggan’s customer complaints alleges that Duggan recommended unsuitable investments in various investments and makes allegations including common law fraud, gross negligence, breach of contract, and elder abuse among other allegations of misconduct relating to the handling of their accounts.

In January 2020 a customer complained that Duggan violated the securities laws by alleging that Duggan made investments recommendations from June 2017 through August 2019 that were unsuitable and claimed common law fraud, gross negligence, breach of contract, and elder abuse. The claim alleges $1,079,155 in damages and is currently pending.

In January 2019 a customer complained that Duggan violated the securities laws by alleging that Duggan made investments recommendations from June 2017 through 2019 were in breach of his fiduciary duty, breach of contract, and misrepresentation. The claim alleges $80,000 in damages and is currently pending.

Advisor Robert Buffington Accused of Churning by Multiple Clients

May 26, 2020 | by Staff Attorney

According to BrokerCheck records kept by The Financial Industry Regulatory Authority (FINRA) broker Robert Buffington (Buffington), formerly associated with Aegis Capital Corp. (Aegis Capital), has been subject to at least four customer complaints during his career. Several of those complaints against Buffington concern allegations of high frequency trading activity also referred to as churning or excessive trading among other securities laws violations.

In March 2020 a customer complained that Buffington violated the securities laws by alleging that Buffington engaged in sales practice violations related to unsuitability, breach of contract, and breach of fiduciary duty. The claim is currently pending and seeks $642,224 in damages.

In January 2020 a customer complained that Buffington violated the securities laws by alleging that Buffington engaged in sales practice violations related to unsuitability, churning, common law fraud, breach of contract, and breach of fiduciary duty. The claim is currently pending.

In January 2020 a customer complained that Buffington violated the securities laws by alleging that Buffington engaged in sales practice violations from November 2018 through the date of filing related to unsuitability, churning, common law fraud, breach of contract, and breach of fiduciary duty. The claim is currently pending.

Broker Sergio Rovner Subject to Multiple Investment Complaints

September 26, 2019 | by Staff Attorney

The attorneys at Gana Weinstein LLP are currently investigating claims against broker Sergio Rovner (Rovner), currently associated with Aegis Capital Corp. (Aegis) out of New York, New York. According to a BrokerCheck report, Rovner has been subject to at least six customer disputes and two regulatory actions during the course of his career. According to records kept by The Financial Industry Regulatory Authority (FINRA), the customer complaints against Rovner concern allegations of unauthorized trading, unsuitable investments, and misrepresentations among other claims.

In February 2018 a customer filed a complaint alleging that Son executed unauthorized trades in the customer’s account and made unsuitable investment recommendations. The customer requested $32,398 in damages. The claim settled for $12,635.

In December 2005 FINRA found that Rovner violated NASD Rules 2110 and 2310 by engaging in excessive trading and unsuitable investments. Without admitting or denying the allegations, Rovner consented to the described sanctions and to the entry of the findings. Rovner was fined $10,000 and suspended for 30 days.

Advisors are not allowed to engage in unauthorized trading. Such trading occurs when a broker sells securities without the prior authority from the investor. All brokers are under an obligation to first discuss trades with the investor before executing them under NYSE Rule 408(a) and FINRA Rules 2510(b). These rules explicitly prohibit brokers from making discretionary trades in a customers non-discretionary accounts. The SEC has also found that unauthorized trading to be fraudulent nature because no disclosure could be more important to an investor than to be made aware that a trade will take place.

Broker Nick Son Subject to Complaints Over Unauthorized Trading

September 25, 2019 | by Staff Attorney

The law offices of Gana Weinstein LLP are currently investigating claims against broker Nick Son (Son), currently associated with Aegis Capital Corp. (Aegis) out of New York, New York. According to a BrokerCheck report, Son has been subject to at least seven customer disputes during the course of his career. According to records kept by The Financial Industry Regulatory Authority (FINRA), Son’s customer complaints concern allegations of unauthorized trading, unsuitable investments, and misrepresentations among other claims.

In February 2018 a customer filed a complaint alleging that Son violated the securities laws by making unauthorized trading and unsuitable investment recommendations. The customer requested $224,968 in damages. The dispute is currently pending.

In April 2016 a customer alleged that in March 2016, Son engaged in high pressure sales tactics and misrepresentations causing $65,984 in damages. The claim was denied.

Advisors are not allowed to engage in unauthorized trading. Such trading occurs when a broker sells securities without the prior authority from the investor. All brokers are under an obligation to first discuss trades with the investor before executing them under NYSE Rule 408(a) and FINRA Rules 2510(b). These rules explicitly prohibit brokers from making discretionary trades in a customers non-discretionary accounts. The SEC has also found that unauthorized trading to be fraudulent nature because no disclosure could be more important to an investor than to be made aware that a trade will take place.