National investment loss lawyers KlaymanToskes is investigating National Securities Corporation and offers recovery options for investors who have suffered losses at the hands of the firm and/or its registered brokers/investment advisors.
If you suffered investment losses at National Securities Corp., contact attorney Lawrence L. Klayman, Esq. at (888) 997-9956 or lklayman@klaymantoskes.com for a free consultation to discuss recovery options. We do not collect attorney’s fees unless we are able to obtain a financial recovery for you.
On June 23, 2022, FINRA announced that it sanctioned National Securities Corporation $8.9 million, including a $3,600,000 fine, disgorgement of $4,770,000, and partial restitution to customers of $625,480 plus interest. The firm entered into a regulatory agreement known as a Letter of Acceptance, Waiver, and Consent with FINRA’s Department of Enforcement for reasons including the firm’s disclosure failures regarding its sale of GPB Capital.
FINRA’s sanctions included the disgorgement of $4.77 million in net profits, which the firm received for underwriting 10 public offerings. FINRA also ordered National Securities Corporation to pay over $625,000 in restitution to customers for failing to disclose material information regarding recommendations to invest in GPB Capital Holdings, LLC.
KlaymanToskes continues investigating National Securities Corporation’s unsuitable sale of GPB Capital securities, including:
In 2018, B. Riley Financial, Inc. purchased a stake of approximately 49% in National Securities’ parent organization, National Holdings Corp. In 2021, B. Riley announced that it agreed to acquire the remainder of New York-based National Holdings Corp.
In a previously issued notice to B. Riley customers, KlaymanToskes reported its investigation of the firm on behalf of customers who suffered investment losses due to high-risk alternative investment recommendations. According to a recently filed claim, it is alleged that B. Riley Wealth management failed to perform necessary due diligence on the alternative investments recommended to certain investors.
KlaymanToskes believes filing a FINRA arbitration claim is generally the best course of action for investors that have sustained realized or unrealized losses at the hands of their full-service brokerage firms. FINRA arbitration is generally the most cost-effective process for investors seeking to recover investment losses, often occurring with the added benefit of increased efficiency over a court proceeding.
Contact attorney Lawrence L. Klayman, Esq., for a free consultation at (888) 997-9956 or lklayman@klaymantoskes.com to discuss your recovery options and to learn more about the arbitration process.
Our firm offers legal services on a contingency fee basis, meaning we do not collect attorney’s fees unless we are able to obtain a financial recovery for you.
KlaymanToskes is a leading national securities law firm which practices exclusively in the field of securities arbitration on behalf of retail and institutional investors throughout the world in large and complex securities matters. The firm has recovered over $250 million in FINRA arbitrations and over $350 million in other securities litigation matters. KlaymanToskes has office locations in California, Florida, New York, and Puerto Rico.
KlaymanToskes, P.A.
Lawrence L. Klayman, Esq.
888-997-9956
lklayman@klaymantoskes.com
www.klaymantoskes.com