National investment fraud lawyers KlaymanToskes is investigating Tobin & Company Securities LLC, after founder and Chief Compliance Officer (“CCO”) Justine Eidt Tobin received customer complaints totaling $5 million in alleged damages.
As CCO and indirect owner of Tobin & Company Securities through her other company, Tobin & Company Investment Banking Group, Justine Tobin’s role is to “help promote strong compliance practices that protect investors and market integrity, as well as the member firm itself,” according to FINRA’s supervisory rules and guidelines. The alleged damages raise questions as to her adherence to responsibilities.
According to FINRA Brokercheck, the first complaint was filed in August 2021 and includes allegations of negligence/negligent supervision, negligent misrepresentation, breach of contract/industry rules, and securities fraud. This complaint alleges that “damages sustained by claimants exceed $3.5 million”. The losses are related to an EB-5 Private Placement, also known as the Immigrant Investor Program. EB-5 allows foreign investors to participate in private placements creating jobs, thereby allowing them to obtain living rights in the US.
A second complaint filed in September, 2021, alleges damages of $1.5 million and that Tobin failed “to supervise representatives who allegedly made false and misleading statements in purportedly selling an unsuitable loan away from the firm.” Both complaints are currently pending arbitrations.
If you have suffered investment losses with Tobin & Company Securities LLC, and/or due to management by Justine Tobin, contact attorney Lawrence L. Klayman at (888) 997-9956 or lklayman@klaymantoskes.com to discuss your recovery options.
FINRA regulated brokerage firms like Tobin & Company Securities, LLC have an obligation to adequately supervise all of their registered representatives and must take the necessary steps to ensure that their financial professionals act in accordance with all securities rules and regulations. When firms like Tobin & Co. fail to appropriately supervise their representatives, they may become liable for investment losses suffered by customers.
Tobin & Co. current and previously registered representatives with notable disclosures who allegedly may have taken part in broker misconduct or investment losses:
KlaymanToskes encourages investors who did business with any of the brokers listed above, Justine Eidt Tobin, and/or Tobin & Company Securities LLC to review their portfolios for signs of broker misconduct, and/or investment losses. Contact Lawrence L. Klayman, Esq., at 888-997-9956, or lklayman@klaymantoskes.com to discuss your potential case.
About KlaymanToskes
KlaymanToskes is a leading national securities law firm which practices exclusively in the field of securities arbitration and litigation on behalf of retail and institutional investors throughout the world in large and complex securities matters. The firm has recovered more than $250 million for investors in FINRA arbitrations and over $350 million in other securities litigation matters for its clients. KlaymanToskes has office locations in California, Florida, New York, and Puerto Rico.
Contact
KlaymanToskes, P.A.
Lawrence L. Klayman, Esq.
888-997-9956
lklayman@klaymantoskes.com
www.klaymantoskes.com