Securities Lawyers Blog
According to records kept by The Financial Industry Regulatory Authority (FINRA) financial advisor Bruce Ciallella (Ciallella), currently employed by Cabot Lodge Securities LLC (Cabot Lodge) has been subject to at least seven customer complaints during the course of his career. Ciallella’s customer complaints alleges that Ciallella recommended unsuitable investments in various investments and makes allegations including fraud, excessive trading, unsuitable investments, concentrated stock positions, failure to properly manage account, unauthorized trading, breach of fiduciary duty, and misrepresentation and omissions among other allegations of misconduct relating to the handling of their accounts.
In November 2019 a customer complained that Ciallella violated the securities laws by alleging that Ciallella made investments recommendations from 2015 to 2018 that the client alleges involved self-dealing and fraud, excessive trading, unsuitable investments, concentrated stock positions, failure to properly manage account, unauthorized trading, breach of fiduciary duty, misrepresentation and omissions, and violation of the Florida securities and investor protection act. The claim alleges $300,670.64 in damages and is currently pending.
Another claim brought in October 2011 from a customer complained that Ciallella violated the securities laws by alleging that Ciallella made investments recommendations that were illegal. The claim alleged $150,000 in damages and settled for $20,000.