The Rosca Scarlato LLC law firm attorneys are investigating circumstances related to various customer disputes filed with FINRA involving broker Steven Baaden (also known as Steve Richard Baaden and Steven Richard Baaden), according to Baaden’s FINRA Brokercheck page.
Investor rights attorney Alan Rosca and his colleagues are investigating circumstances surrounding the various allegations reportedly invoked by Mr. Baaden’s customers.
Investors who are concerned about their investments with broker Steven Baaden may contact attorney Alan Rosca or his colleagues for a free consultation and discussion of potential options, or to provide any useful information. Interested investors may call 888-998-0530, send an email to arosca@rscounsel.law, or complete the contact form on this webpage.
Concerned about investments with
Steve Baaden Facing Allegations of Unsuitability and Fraud, Among Others
As reported on Baaden’s Brokercheck page, a recent customer dispute filed in February 2021 alleges unsuitability, fraud, breach of contract, and breach of fiduciary duty in connection with investments. The customer alleged that Baaden was registered with Oppenheimer & Co when the allegations occurred and that the allegations involved common & preferred stocks.
Between 1988 and 2013, customers of Steven Richard Baaden were reportedly paid over $250,000 in combined settlements, according to his Brokercheck page.
In May 2013, a customer received a settlement to the tune of $11,337.21 on allegations of unauthorized transactions made to generate additional fees and commissions. The customer alleged that Baaden was registered with Merrill Lynch, Pierce & Smith when the allegations occurred and that the dispute involved common and preferred stock investment products.
Another customer received a settlement in March 2013 to the tune of $25,494.18 on allegations of unauthorized trading and conduct resulting in overcharging the customer’s account. This customer also alleged that Steven Baaden was registered with Merrill Lynch when he engaged in the aforementioned allegations, while the product type involved was reportedly “Equity-OTC”.
In December 1994 a customer received a settlement of $112,000 on allegations of breach of fiduciary duty, breach of contract, account-related negligence, and misrepresentation while Baaden was registered with Painewebber.
Similarly, another customer received a settlement of $30,000 in January 1994 on allegations of breach of fiduciary duty and improper management of their investment accounts involving limited partnerships. The customer initially sought to recover $100,00.
Additionally in 1993 and 1989, two customers won arbitration cases filed for allegations of breach of fiduciary duty, churning, misrepresentation, and unauthorized trading, among others. One customer was awarded $102,363.61 in April 1993 and a second customer was awarded $5,465 in June 1989.
Investors who are concerned about their investment with Steve R Baaden may contact attorney Alan Rosca or his colleagues for a free case evaluation and discussion of potential options toll free at 888-998-0530, via email at arosca@rscounsel.law, or through the contact form on this webpage.
Broker Steven Baaden Has Been Registered with FINRA for 36 Years
Baaden has been registered with FINRA since 1984 and switched employers six times according to his Brokercheck page. Baaden is currently a registered broker and investment adviser with Oppenheimer & Co located in Los Angeles, California. He has been registered with the firm since February 2013.
He was previously employed with Merrill Lynch, Pierce, Fenner & Smith located in El Segundo, California from September 2008 until February 2013. Broker Steve Baaden was reportedly discharged from the firm in 2013 on allegations of overcharging certain clients according to his Brokercheck page.
He was also employed with Citigroup Global Markets, UBS Financial Services, Bateman Eichler Hill Richards, and Coastal Securities.
Finally, it is important to note that, as of the date of this article, there has not been a finding of liability as to the complaints or allegations mentioned in this article, unless otherwise indicated. Any reader should also read the original sources hyperlinked in this blog for accuracy, including any BrokerCheck report and/or record of any disciplinary or regulatory action. Those sources are incorporated by reference into the text of this blog, and are the governing materials in case of any inconsistencies or typos in this blog.
Concerned about investments with
Investor Rights Attorneys Are Investigating
The Rosca Scarlato LLC law firm represents investors who lose money as a result of investment-related fraud or broker misconduct and is currently investigating conduct related to broker Steve Baaden’s and the customer dispute disclosures alleging unsuitability, breach of fiduciary duty, breach of contract, churning, misrepresentation, unauthorized trading, among others.
The firm takes most cases of this type on a contingency fee basis and advances the case costs, and only gets paid for their fees and costs out of money recovered for clients. Attorney Alan Rosca, a securities lawyer and adjunct professor of securities regulation, has represented thousands of victimized investors across the country and around the world in cases ranging from arbitrations to class actions.
Baaden investors who are concerned about their investments with the Oppenheimer broker may contact attorney Alan Rosca for a free case evaluation and discussion of potential options, or to provide any useful information, by calling 888-998-0530, via email at arosca@rscounsel.law, or through the contact form on this webpage.
