Michael Anthony Fahsholtz (CRD#: 6534888), a former broker and investment adviser in Wenatchee, Washington, is being investigated by firm Rosca Scarlato’s securities attorney Alan Rosca in relation to several customer dispute dosclosures. Michael Fahsholtz was reportedly associated with brokerage firm Stifel, Nicolaus & Company (CRD#: 2057306) at the time when the allegations mentioned in the customer complaints took place. Fahsholtz‘ s FINRA report also shows one customer complaint labelled as ‘denied’, which occurred when Fahsholtz was also linked to Stifel Nicolaus and Company.
Investors who are concerned that they may have lost money due to unsuitable investments or purchases related to Michael Fahsholtz of Stifel Nicolaus & Company are urged to contact Rosca Scarlato LLC securities attorney Alan Rosca for a free, no-obligation discussion regarding their options.
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Customer Dispute Disclosures on Fahsholtz’ s FINRA Report
According to his FINRA Brokecheck Report, in April 2019 a customer alleged common law fraud, breach of fiduciary duty, negligence and breach of contract in connection to debt-corporate type of investments, while Michael Anthony Fahsholtz was registered with Stifel Nicolaus. The customer alleged that the damages amount to $250,000 and as of February 2020 the dispute evolved into a FINRA arbitration.
In November 2019, a customer dispute disclosure alleged common law fraud, breach of fiduciary duty and contract, negligence, and of violating the Washington Consumer Protection Act and the Securities Act of Washington. The FINRA report shows that this dispute is listed as an arbitration filed with FINRA and is seeking alleged customer damages totaling $500,000.
During February 2020, another of Fahsholtz‘ s customers began a dispute, alleging common law fraud, negligence, breach of contract and breach of fiduciary duty. This customer dispute also alleges violation of both the Washington Consumer Protection Act and the Securities Act if Washington. This dispute is alleging customer damages totaling $250,000.
In March 2020, a customer of Fahsholtz began a dispute alleging common law fraud, breach of fiduciary duty, negligence, breach of contract, breach of Washington Consumer Protection Act alongside also accusing him of violating the Securities Act of Washington. These claims have led the customer to seek compensation for the alleged damages, valued at $90,000.
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In July 2020 a customer alleged similar allegations to the ones mentioned previously in connection to debt-corporate type of investments while Michael Fahsholtz was registered with Stifel Nicolaus. The customer is asking $100,000 in alleged damages.
In February 2021, another Fahsholtz customer brought allegations of breach of fiduciary duty, unsuitable investment recommendations and violation of securities laws. The product type involved was reportedly debt-corporate and unit investment trust investments and the alleged damages amount to $106,000.
Several Fahsholtz Customers Settled Their Disputes in 2020
In September 2020 a customer filed a dispute requesting $45,000 in damages for alleged breach of fiduciary duty and unsuitable investments. The dispute was reportedly settled for $14,500 in November 2020.
Similarly, in May 2020, a customer began a dispute involving Fahsholtz, alleging violation of Securities Act of Washington, unsuitable investments, negligence, and violation of FINRA rule 3111, which relates to all investments firms establishing and maintaining a system to supervise activities. Fahsholtz was also accused in the same allegation of breach of contract and breach of fiduciary duty. These alleged activities have resulted in alleged customer damages, amounting to $240,000.00 in total. In October 2020 this dispute partially concluded in a settlement with the firm totaling $48,500, while the dispute reportedly remains pending as to allegations against the broker as of the date of this article.
Another complaint filed in December 2020 alleged inappropriate stocks, bonds and UITs. The dispute concluded in February 2021 with a settlement with the firm Stifel Nicolaus totaling $7,500 and was reportedly denied as to allegations against Fahsholtz.
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.
Have you made a previous investment with Fahsholtz, Stifel Nicolaus & Company, Incorporated? Securities attorney Alan Rosca is investigating
At Rosca Scarlato LLC, our securities attorneys Alan Rosca and Paul Scarlato are investigating the customer dispute disclosures shown on Fahsholtz‘ s FINRA report, alongside investigating any activities of Fahsholtz‘ s associated firm Stifel Nicolaus & Company Incorporated.
Securities attorney Alan Rosca has helped thousands of victimized investors across the country and around the globe in filing complaints and arbitrations against brokerage firms that improperly recommended problematic investments to their customers and issuers of such problematic investments. Each case is, of course different, and prior performance is not indicative of any future success.
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Investors who have suffered losses or have concerns about prior investments made with either former broker Michael Fahsholtz or Stifel Nicolaus & Company Incorporated are urged to contact Alan Rosca at Rosca Scarlato for a free, no-obligation consultation. Any investors who may wish to query their potential loss recovery options are also urged to contact our team for a free, no-obligation discussion about their options.
If you are an investor who has useful information about Fahsholtz‘ s activities or Stifel Nicolaus & Company, you are also advised to contact Alan Rosca at the earliest convenience, either by phone at 888-998-0530, via email at arosca@rscounsel.law, or through the contact form on the webpage.
