National investment loss lawyers KlaymanToskes is investigating Damian Maggio (CRD# 2864247) of Joseph Stone Capital in connection with the filing of two customer complaints alleging $3 million in collective investor damages due to failure to supervise certain representatives in connection with the recommendation and sale of over-the-counter (OTC) equities.
Investors that suffered losses with Damian Maggio and/or any other advisor at Joseph Stone Capital are encouraged to contact attorney Lawrence L. Klayman, Esq., for a free consultation to discuss recovery options at 888-997-9956 or lawrence@klaymantoskes.com. We do not collect attorney’s fees unless we are able to obtain a financial recovery for you.
According to FINRA BrokerCheck, Damian Maggio has been registered as a broker with Joseph Stone Capital since 2013 in Garden City, NY. Currently, Maggio serves as Chief Executive Officer (CEO) at Joseph Stone Capital, LLC.
Maggio is currently facing two pending customer complaints for failure to supervise. The first complaint alleges investor damages of $2,807,663.24, while the second complaint alleges damages of $354,994.55. Both complaints relate to investment recommendations of over-the-counter (OTC) equity securities.
Brokers and financial advisors must consider an investment’s risk, ensure that they do not misrepresent material facts, and/or overconcentrate the customer’s portfolio in unsuitable investments. Further, financial professionals and their firms cannot disregard a customer’s risk-tolerance when making suitable investment recommendations.
Firms may be liable for a failure to supervise in the event of a non-compliance with the securities industry standards of care for the handling of customer accounts which results in losses incurred by customers.
Customers of Damian Maggio and/or any other financial advisor at Joseph Stone Capital who sustained losses are encouraged to contact attorney Lawrence L. Klayman, Esq. at (888) 997-9956 or lawrence@klaymantoskes.com for a free consultation. 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
lawrence@klaymantoskes.com
www.klaymantoskes.com