According to publicly available information, Kenneth David Blumberg (CRD: 1585520), a registered broker and adviser with Stifel, Nicolaus & Company, is facing a new customer dispute. The customer alleges that he failed to diversify their investments, made unsuitable recommendations, engaged in fraud, breach of fiduciary duty, and negligence. A similar claim had previously been filed against Blumberg, resulting in an over $1.5 million arbitration award.
At Meyer Wilson, we are dedicated to helping investors who have been harmed as a result of adviser misconduct or investment fraud. Our legal team has decades of combined experience recovering losses on behalf of aggrieved investors nationwide. If you have suffered financial losses under Kenneth Blumberg or another broker, contact our office at (614) 532-4576 for a free, no-pressure consultation.
As noted on Kenneth David Blumberg’s BrokerCheck report, a customer dispute filed on March 18, 2022, alleges that he engaged in several securities violations. The customer is requesting damages of over $100,000 as a result of Blumberg’s failure to diversify, unsuitable investments, misrepresentation, violation of common law fraud, breach of fiduciary duty, and negligence. The customer dispute is currently pending.
This is not the first time that Blumberg has received a customer dispute while working for the firm Stifel, Nicolaus & Co., Inc (“Stifel”). In 2017, customers were granted damages in excess of $1.5 million after alleging that Blumberg engaged in a breach of contract, professional negligence, breach of fiduciary duty, and violation of state and federal securities laws.
When an adviser engages in misconduct such as making material misrepresentations or making unsuitable recommendations, an investor may be able to recover losses through an arbitration claim or investment fraud lawsuit. It is important to discuss your case with an experienced attorney who can help you understand your legal options.
In many cases, the financial firm can be held liable for failing to supervise its representative. An attorney well-versed in investor claims can help determine the best course of action for recovering losses and obtaining justice. It is essential to act quickly as you may only have a limited amount of time to recover losses.
If you suffered losses under Kenneth Blumberg or as a result of another broker’s misconduct, contact our office at (614) 532-4576 for a free consultation. All case evaluations are confidential and without obligation to retain our services. Investor claims are handled on a contingency fee basis, meaning you do not pay attorney’s fees unless money is recovered on your behalf.