California based broker Samuel Fahsholtz (CRD#: 6534888) is accused of engaging in common law fraud, breach of fiduciary duty, breach of contract, and violation of Securities Act of Washington, according to pending customer complaints being investigated by a securities lawyer with the law firm Rosca Scarlato. According to the Financial Industry Regulatory Authority (FINRA) report, Samuel John Fahsholtz has two pending customer disputes, and one customer dispute that is registered as ‘settled.’
These alleged activities took place while Samuel Fahsholtz was associated with company Stifel, Nicolaus & Company Incorporated, of Palm Desert, California, a brokerage firm that is regulated by FINRA. At the time of writing, Fahsholtz has been associated with this company for four years, starting in 2016.
According to Fahsholtz‘ s FINRA report, the settled customer dispute was centered around allegations of inappropriate portfolio investments that were not appropriate for the customers’ goal of preserving principle. The damages of this allegedly inappropriate investment are listed at $50,100.00, but the report shows that a settlement was reached, totaling $17,707.50.
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The FINRA rules typically applies to all investment professionals making suitable investments for customers, based on their customers’ investment histories, securities, age, and previous investment profile.
Generally speaking, it is typically the responsibility of a stockbroker or investment adviser to ensure that the customer is fully aware of all of the risks associated with each investment and to choose an investment type that is suited to the customers’ previous experience.
In relation to the two pending allegations, Samuel John Fahsholtz is accused of common law fraud in both disputes and other violations associated with security. Fahsholtz‘ s FINRA report shows that one of the customers has filed a written complaint, whereas the other has filed a written arbitration.
Investors who are concerned that they may have lost money in the alleged fraudulent activity or inappropriate portfolio investments related to either broker Samuel Fahsholtz or Stifel, Nicolaus & Company Incorporated are urged to contact Rosca Scarlato securities lawyer Alan Rosca for a free, no-obligation discussion regarding your options. If you have any additional information pertaining to either Samuel John Fahsholtz or Stifel, Nicolaus & Company Incorporated, please contact our securities lawyer Alan Rosca to discuss your options.
Fahsholtz’ s FINRA report shows two pending customer complaints in 2020
In February 2020, the first of the customer complaint was filed against broker Samuel Fahsholtz in the form of an arbitration. The customer alleged that Fahsholtz was responsible for common law fraud, breach of fiduciary duty, breach of contract, negligence, violating the Washington Consumer Protection act as well as violating the Securities Act of Washington. Fahsholtz‘ s FINRA report shows that in relation to these allegations, this customer is seeking damages worth $250,000.00. This case was reported in the brokercheck report and is linked to Fahsholtz‘ s company Stifel, Nicolaus & Company Incorporated.
The second customer complaint was filed in March 2020 in the form of a written complaint, accusing Samuel John Fahsholtz of breach of fiduciary duty, breach of contract, common law fraud, negligence, violation of the Washington Consumer Protection Act and violation of the Securities Act of Washington. The FINRA report shows that this previous customer is claiming alleged damages worth $90,000.00. As with the previous allegation, this complaint has also been reported in the brokercheck and has been linked to associated company Stifel, Nicolaus & Company Incorporated.
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.
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Our Securities Lawyers Might Be Able To Help
Rosca Scarlato securities lawyer Alan Rosca and his colleagues are investigating the alleged activities surrounding Samuel John Fahsholtz and Stifel, Nicolaus & Company Incorporated, and have helped thousands of victimized investors across the country and around the globe in filing cases and arbitration proceedings against stockbrokers and others who are involved in the sale of problematic investments.
Investors who have suffered losses or have concerns about prior investments with broker Samuel Fahsholtz and Stifel, Nicolaus & Company Incorporated are urged to contact Rosca Scarlato for a free, no-obligation consultation.
Any investors who wish to query their potential loss recovery options are also urged to contact Alan Rosca or his colleagues for a free, no-obligation discussion about their options. If you are an investor who has useful information pertaining to Fahsholtz‘ s activities, you are also advised to contact Alan Rosca at 888-998-0530, via email at arosca@rscounsel.law, or through the contact form on the webpage.