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Timothy J. Dennin

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Attorney

Location:

Northport, NY

Phone:

(631) 261-0250

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Rated AV by Martindale-Hubbell and listed in the Bar Register of Preeminent Lawyers. Author: “Chopping the Chop Shop,” Securities Arbitration Handbook, Practicing Law Institute, 1997; “The Ramifications of U.S. v. Vogel Fertilizer,” 5 St. John’s University Tax Forum, No. 1, 1983. Faculty Member, Securities Arbitration, Practicing Law Institute. Assistant District Attorney, Nassau County, New York, 1984-1987. Attorney, Securities and Exchange Commission, Division of Enforcement, 1987-1989, Washington, D.C. Arbitrator and Mediator.

A Proven Track Record:

From 1990 through 2020, more than 90% of the customer securities arbitration claims which we have tried through an arbitration hearing have resulted in a favorable award. On the cases in which we have received a favorable award, the arbitration panel on average awarded over 85% of the amount requested.

Reported Cases: 

Ursula Buono Anavitate and Guadalupe Buono Anavitate v. UBS Financial Services Inc. and UBS Financial Services of Puerto Rico, FINRA Case Number 18-00878 Case involved allegations of misrepresentations in connection with the sale and hold recommendations of Puerto Rico CEFs and municipal bonds. Case Settled fall of  2019 – amount subject to a confidentiality agreement.

Guadalupe Buono Anavitate v. Popular Securities FINRA Case # 18-00879 Case involved allegations of misrepresentations in connection with the sale and hold recommendations of Puerto Rico CEFs and municipal bonds. Case Settled 2019 – amount subject to a confidentiality agreement.

Blue Sunsets LLC and Jencess Software and Technologies Inc. v. Collectors Café and Mykalia Kontilia 2:17 cv-01418 JAD-CWH Las Vegas Federal Court Nevada allegation of violations of 10b-5 of the 1934 Securities and Exchange Act in connection with Private Placement sale of $1,500,000 of securities. Resulted in settlement of 100% of compensatory damages. After recouping $1,125,000 from defendants; defendants reneged on the last payment of $375,000. Thereafter, judgement was entered on March 9, 2020 against defendants in the amount of $625,000, $250,000 more than the amount due on the last installment of $375,000.  

Wendy Morasco v. Citizens Securities Inc.  FINRA Case Number 17-02156 represented Citizens Securities Inc. in case brought by former broker in an employment dispute alleging breach of contract and negligence in the hiring process. Case settled September 2018 terms subject to a confidentiality agreement.

John J. Price v. AXA Advisors LLC and Eric Christopher Erb FINRA Case 17-02969 allegations of conversion, fraud against Christopher Erb (“Erb”) and lack of supervision against AXA Advisors LLC (“AXA”).  Erb subsequently prosecuted by United States Attorneys’ Office and pled guilty to felony and is in prison. AXA settled in 2018 – amount subject to confidentiality agreement. 

Herbert Voss v. Danard Warthan Brown, Legend Securities, Inc. et al. FINRA No. 17-00910 Date of Award November 2018 Amount of Award $1,075,000 plus interest After trial the Panel awarded $375,000 (100% compensatory damages) plus punitive damages of $700,000 against the broker dealer and the broker. In addition, the Panel awarded $25,000 against Frank Fusco individually as his role as Chief Compliance Officer. Claimant was 80 years old and victim of excessive trading. The claims centered on churning and lack of supervision. 

Maria Cadilla v Popular Securities LLC FINRA No. 15-02330 Date of Award March 2018 Amount of Award $250,000 including $50,000 in Attorneys’ Fees Case involved sale of the PR Closed End Funds and PR Bonds. Allegations centered on concentration, recommendation to hold, unsuitable investments and Elder Fraud 

Stella Patterson and Jack Patterson v. Ladenburg Thalmann & Co. Inc. FINRA No. 16-00972 Date of Award October 2017 Amount of the Award $357,775 This was a very significant case particularly given the fact that the conduct at issue -short term trading in Closed End Funds and Selling Away/Conversion- occurred during the period 2002 and ended when the Pattersons left as clients of Ladenburg in September 2005. The Statement of Claim was filed eleven years later in 2016. At trial was able to establish that the Claimants’ could not have reasonably known of the improper conduct until years after they left Ladenburg and that the Statute of Limitations should be tolled. Although Ladenburg argued that the case should be dismissed based upon statute of limitations and that Claimants suffered no damages (through receipt of “interest”) the Panel awarded my clients in excess of $350,000. 

Rafael Vizcarrondo and Mercedes Imbert De Jesus v. UBS Financial Services Inc. and UBS Financial Services Inc. of Puerto Rico FINRA No. 14-02464 Date of Award: December 2016 Amount of Award: $18,577,413.50 Historic award in excess $18,500,000. This award, by many multiples, is the highest award ever in any of the more than 1,800 cases filed against UBS in connection with the sale of UBS proprietary closed-end funds (“CEFs”). Despite UBS’ assertion that claimant had net gains of over $5,000,000 over the lifetime of his relationship with UBS, after 50 hearing sessions (the longest trial to date against UBS in PR), the panel awarded 100 percent net out-of-pocket losses (as alleged by claimant during the relevant time period) of $12,716,722; 9 percent New York State compensatory interest of $2,517,911; $163,000 in expert witness fees, $600 in reimbursable portion of the filing fee; and $3,179,180.50 in attorneys’ fees. In addition, the panel accessed all hearing session fees of $64,500 against UBS. 

TWC Financial LLC SIPIC Liquidation Proceedings Docket No. 13-01152-ess United States Bankruptcy Court Eastern District New York Date December 2016 Represented Polish resident, citizen and official for the United Nations in an affinity fraud case that targeted prominent Polish citizens as part of an international Ponzi scheme. Adversary claim prosecuted in U.S. Bankruptcy Court resulted in additional payout of $144,615.50 to client (in addition to SIPIC settlement of $500,000 and confidential settlement with Penson Worldwide Inc. in U.S. Bankruptcy Court, District of Delaware, Ch. 11 13-10061, as clearing firm). 

FINRA Regulatory Enforcement Proceeding (AWC No. 2015046355401) against Oppenheimer & Co. Inc. Dated: November 2016 Restitution awarded: $336,081 FINRA regulatory action regarding Oppenheimer ‘s submarining material evidence in three FINRA arbitration cases filed and prosecuted on behalf of my clients. These arbitration cases resulted in payments to my clients totaling in excess of $3,580,000. As a result of Oppenheimer’s concealment of evidence in these arbitration claims, FINRA ordered that Oppenheimer pay an additional $336,081 to my clients. 

Iris Rodriguez v. UBS Financial Services Inc. and UBS Financial Services Inc. of Puerto Rico FINRA No. 13-03625 Date Settled: February 2016 Amount of Settlement: Confidential Case involved purchases and sales of UBS Puerto Rico closed-end funds (“CEFs”) to claimant. Claimant, who was a home health care aid with a high school education, won the mega-million lottery jackpot and thereafter entrusted the bulk of her funds of approximately $20,000,000 with UBS PR. Case involved recommended purchase of $16,000,000 in Employment Retirement System Bonds (underwritten by UBS) using allegedly unsuitable leverage through reverse repo transactions, and allegedly illicit transactions recommended by UBS to purchase over $10,000,000 of UBS proprietary CEFs through the proceeds of UBS Non-Purpose Bank loans. After two full weeks of trial in San Juan Puerto Rico, the case settled in February 2016. The settlement was the second highest settlement to date in the more than 1,800 UBS CEF cases filed. The terms of the settlement are confidential (UBS settlement amounts are publically available in the FINRA Broker-Check Data Base). 

Julio Cay-Montanez and Gloria S. Martinez-Torres v. UBS Financial Services Inc. and UBS Financial Services Inc. of Puerto Rico FINRA No. 13-03785 Case involved the purchases and sales of UBS Puerto Rico Closed-End Funds to Claimant. Prior to Mr. Dennin being retained as trial counsel, there was no offer to settle. UBS calculated that the Claimants’ account had a $350,000 profit. Although overall the UBS account was profitable, after 11 hearing days and 21 hearing sessions  of cross examination of the UBS broker and UBS supervisors regarding the alleged unsuitable purchases of CEFs in Claimants’ account, in July 2015, UBS settled this case for $650,000 (as publically Reported in FINRA Broker-Check Data Base). 

SEC Investigation World-Wide Martial Arts, Inc. et al (NY-8832)  Administrative Proceeding File No. 3-16505  SEC 1933 Act Release No. 9755 dated April 23, 2015  SEC 1934 Exchange Act Release No. 13474799 dated April 23, 2015  Case involves two proposed initial public offerings of $20,000,000 each and alleged distribution of unregistered securities. Approved by AIG (Insurer providing Directors and Officers Liability Coverage) to Represent the former Chief Financial Officer in the SEC investigation and SEC did not pursue claims against the client.  

John S. Patterson and Stella C. Patterson v. Ladenburg Thalmann & Co. Inc. Docket No. L-1435-14 Superior Court of New Jersey, Law Division Ocean County Order dated December 19, 2014 Legally Significant Decision.  After submissions of legal memoranda and oral argument, Court denies Ladenburg’s motion to stay and compel arbitration and agrees with Plaintiffs that Ladenburg’s incomplete and ambiguous contract did not require arbitration. Ladenburg’s appeal pending Docket No. A-002448-14T2 

John S. Patterson and Stella C. Patterson v. Ladenburg Thalmann & Co. Inc. Docket No. L-1435-14 Superior Court of New Jersey, Law Division Ocean County Order dated October 24, 2014 Legally Significant Decision.  After submissions of legal memoranda and oral argument, Court denies Ladenburg’s motion to dismiss claims dating back to June 2004 based upon the statute of limitations. Court agreed with Plaintiffs’ argument that under the New Jersey Discovery Rule, fraudulent concealment and Equitable Estoppel, Ladenburg’s motion must fail. 

TWC Financial LLC SIPIC Liquidation Proceedings  Docket No. 13-01152-ess United States Bankruptcy Court Eastern District New York Date of SIPIC settlement: March 5, 2014 Represented Polish resident, citizen and official for the United Nations in a significant affinity fraud case that targeted influential Polish citizens in an alleged international Ponzi scheme. Filed various bankruptcy adversary proceedings in the United States Bankruptcy Courts in the Eastern and Southern Districts of New York, FINRA arbitration against clearing firm, claim in United States Bankruptcy Court in the District of Delaware and SIPIC claim under conversion. SIPIC settled for $500,000, the maximum amount of coverage permissible by statute. 

Weiss v. David A. Noyes & Co. FINRA No. 12-01628 Date of Settlement: March 2014 Case involved the sale of a Variable Life Policy and alleged unsuitable investments in Closed-End funds. Noyes settled for $270,000 (as publically Reported in FINRA Broker-Check Data Base). 

John S. Patterson and Stella C. Patterson v. Oppenheimer & Co. Inc. FINRA No. 12-01229 Date of Settlement: August 2013 Case involved selling away and conversion of approximately $1,000,000 by Oppenheimer’s former Executive Director of Investments, Mark C. Hotton. Prior to the commencement of arbitration the hearings, Hotton filed for protection under the bankruptcy laws and as a result the case proceeded solely against Oppenheimer on lack of supervision claims. Case was significant in that none of the approximate $1,000,000 converted was deposited in any Oppenheimer account and thus Oppenheimer’s defense was that it reasonably supervised Hotton and had no reason to suspect that he did anything wrong. Oppenheimer settled for $825,000  (as publically Reported in FINRA Broker-Check Data Base). 

Dennis Spina v. Ladenburg Thalmann & Co. Inc. Docket No. 2013-CP-07-02232 Court of Common Pleas, South Carolina 14th Judicial District Date of Court Order August 2013 Emergency Court Filing Client became gravely ill. Court granted Filed expedited de bene esse motion for deposition to conduct video-taped deposition at client’s home to preserve testimony and victim statement. The video-taped victim statement, taken literally at client’s deathbed, provided relief to the client and was one of several compelling client statements made at the criminal sentencing of Mark C. Hotton in United States District Court in Eastern District of New York in June 2015. 

Dennis Spina v. Oppenheimer & Co. Inc.  FINRA No. 11-0366 Date of Settlement: April  2013 Case involved selling away and conversion by Oppenheimer’s former Executive Director of Investments, Mark C. Hotton. Prior to the commencement of arbitration the hearings, Hotton filed for protection under the bankruptcy laws and as a result the case proceeded solely against Oppenheimer on lack of supervision claims. Oppenheimer’s defense was that it reasonably supervised Hotton and had no reason to suspect that he did anything wrong. Oppenheimer settled for $210,000  (as publically Reported in FINRA Broker-Check Data Base). 

Pitch et al. v. American Capital Partners LLC  FINRA No. 11-01760 Date of Settlement September 2012 Case involved alleged forgeries, unauthorized wire transfers and thefts by Mark C. Hotton as Supervising Branch Manager of American Capital Partners LLC. American Capital settled for $75,000. (as publically Reported in FINRA Broker-Check Data Base). 

Denefrio v. Investors Capital Corporation et al.  FINRA No. 10-04721 Date of Settlement March 2012 Case involved the alleged unsuitable recommendation and sale of Variable Annuities. In the middle of the hearing, after cross examining the broker, the case settled. Investors Capital settled for $225,000. (as publically Reported in FINRA Broker-Check Data Base). 

Louis Pitch and Donna Pitch v. Oppenheimer & Oppenheimer & Co. Inc.  FINRA No. 09-07047 Date of Decision:  January 29, 2013 Amount Awarded: In $2,553,271, including $100,000 in punitive damages due to the “egregious conduct of Oppenheimer” plus interest. Case involved selling away and conversion of approximately $4,950,000 by Oppenheimer’s former Executive Director of Investments, Mark C. Hotton. The day before arbitration hearings commenced, Hotton filed for protection under the bankruptcy laws and as a result the case proceeded solely against Oppenheimer on lack of supervision claims. Case was significant in that none of the $4,950,000 converted was deposited in any Oppenheimer account and thus Oppenheimer’s defense was that it reasonably supervised Hotton and had no reason to suspect that he did anything wrong.     Louis Pitch and Donna Pitch v. Mark C. Hotton et. Al.  Index No. 09-5599 United States District Court Eastern District of New York Date of Filing: December 2009 Ex-Party TRO filed obtaining Freeze Order and Expedited Discovery. Through this contested litigation, was able to subpoena numerous banks to follow the money and uncovered a multi-million dollar Ponzi scheme by Mark C. Hotton, as a broker for Ladenburg Thalmann and subsequently Executive Director of Investments at Oppenheimer & Co. Inc. The evidence gathered in this federal proceeding was shared with FINRA Enforcement attorneys and supervisors in Rockville Maryland and federal prosecutors and formed the basis for Hotton ultimately being barred from the securities industry and pleading guilty to federal charges brought by the United States Attorney’s Office in the Eastern District of New York.  

Jeffrey B. Sciallo et al. v. Tyco International Ltd. et al.  Civil Action No. 03-1354-B MDL No. 1335 Federal securities proceeding against Tyco International Ltd., Dennis Kozlowski and Mark Swartz. Represented three former officers of U.S. Surgical Corp. in connection with the merger of Tyco and U.S. Surgical. Claims concerned violations of Section 10b-5 of the Securities and Exchange Act of 1934 and stock options
Date of Settlement: November 2008 Settlement Amount: Subject to a Confidentiality Agreement 

Lyons v. Merrill Lynch and Phua Young Case #03-04172, NASD Arbitration: Amount Requested: $625,000 Date of Decision: July 16, 2006 Amount Awarded: $621,562, including $240,000 in punitive damages against Merrill Lynch and Phua Young (Merrill Lynch securities analyst) and $125,000 in interest plus expert witness fees. Case involved conflicts of interest between Merrill Lynch securities analysts and investment banking relating to losses suffered in clients’ accounts in Tyco common stock. Although the accounts were overall profitable, after hearing Arbitrators awarded 99% of damages sought relating to decline in Tyco common stock. 

David and Jonathan Libman v. David Garfinkel, First Montauk Securities Corp. et.al.  NASD No. 03-02094 NASD Arbitration: Amount Requested: $300,000 Date of Decision: 2/24/06 Amount Awarded: $284,000 plus interest. Case involved allegations of unauthorized trading, churning and fraud. 

Naomi Sayegh v. J. Peter Ricketts, Ameritrade, Inc., Ameritrade Holding, Corp., and Accutrade, Inc.  NASD No. 02-00652 NASD Arbitration: case involved issues relating to conflict of laws, jurisdiction, application of Canadian registration requirements and applicability of Quebec law to Accutrade, a U.S. based broker-dealer and suitability and supervision issues regarding a self directed on-line trading account. Amount requested in Statement of Claim $156,000. Date of Decision: 7/6/04 Amount Awarded: $44,600 plus interest. 

Nationwide Life Insurance Company v. Helen Constans Christopher Rutland and Barbara Grahams Index No. 01 CIV 3320 (DRD) Date of Court Order: January 2002 Amount Awarded: $393,541.76 in compensatory damages and $800,000.00 in punitive damages. Federal Interpleader Action brought by life insurance company regarding the proceeds of an annuity and cross claims prosecuted on behalf of client against co-defendants alleging conversion, forgery, RICO, breach of fiduciary duty, breach of agency, negligence and punitive damages in connection with the purchase and sale of various annuities. 

Carmine and Mary Ricca v. Adam Sanders, Salavatore Tacher, Kessington Wells, Inc. et.al. NASD No. 98-03031 NASD Arbitration: amount requested $75,000. Date of Decision: 8/17/01 Amount Awarded: $85,500. Case involved allegations of market manipulation, unsuitable recommendations, material misstatements and omissions and fraud. 

Robert and Fran Lax v. Kensington Wells, Inc., Joel Grant et. al. NASD No. 97-00061 NASD Arbitration: amount requested: $436,250 Date of Decision: 11/17/99 Amount Awarded: $113,565 plus specific finding of fraud. Case involved allegations of market manipulation, unsuitable recommendations, material misstatements and omissions and fraud. 

Louis and Dorothy Dequine et. al. v. Daniel Porush, Eric Blumen and Stratton Oakmont, Inc.  NASD No. 95-01335 NASD Arbitration: Amount requested: $283,000 Date of Decision: 2/10/99 Amount Awarded: $242,000 compensatory, $500,000 in punitive damages, attorneys’ fees and costs total award in excess of $742,000. Case involved allegations of market manipulation, unauthorized trading, material misstatements and omissions and fraud. 

G. Brooks Biddle et. al. v. Comprehensive Environmental Systems, Inc. et. al.  Case No. 96 Civ. 343 U.S. District Court E.D.N.Y. Violation of 10b-5 of the Securities and Exchange Act of 1934 regarding Regulation S Offshore Offering. Date of Settlement: 1998 Amount of Settlement: Subject to Confidentiality Agreement. 

Carol Hovanec, Dr. Marshal Pitts, et.al. v. Allan Viscardi, World Invest Corporation et. al.  NASD No. 97-03034 NASD Arbitration: Represented twelve Claimants through hearing. Amount requested: $1,146,500 Date of Decision: 8/28/98 Amount Awarded: $998,915. Case involved allegations of unsuitable recommendations through an investment advisor associated with clients’ accounting firm. 

George Pentz, Arlemont Ranch et.al. v. Jordan Belfort, Daniel Porush, Stratton Oakmont, Inc. et. al.  NASD No. 94-02830 NASD Arbitration: Amount Requested: $713,000. Date of Decision: 4/1/98 Amount Awarded: $713,000 plus interest and costs. Case involved allegations of market manipulation, unsuitable recommendations, material misstatements and omissions and fraud. 

Frist Capital Partners, Thomas F. Frist and Patricia F. Elcan v. Ideon Group, Inc., Paul G. Kahn and William Lackey  96 Civ.3906 (WK) U.S. District Court S.D.N.Y. Violation of 10b-5 of the Securities and Exchange Act of 1934 regarding the sale of Ideon common stock to Private Investment Bank and Institutional stock holder. Date of Settlement: 1997 Amount of Settlement: Subject to Confidentiality Order. 

Peter and Jeanne Celiberti v. Daniel Porush, James Kelly and Stratton Oakmont, Inc. NASD No. 96-01053 NASD Arbitration: Amount Requested: $223,000. Date of Decision: 6/19/97 Amount Awarded: $215,000 plus costs. Case involved allegations of market manipulation, unsuitable recommendations, material misstatements and omissions and fraud. 

PaineWebber Limited Partnerships Litigation Index No. 94-Civ-8457 (SHS) Securities Class Action concerning allegations of misrepresentations and omissions relating to the purported safety characteristics of limited partnerships marketed by PaineWebber to the investing public. Date of Settlement: 1997 Amount of Settlement: $200,000,000.00. 

Capital Realty Investors Tax Exempt Fund  Delaware Chancery Court Index No. 14558 Date of Settlement: 1996 Amount of Settlement: $2,500,000.00. Case involved allegations of corporate management undervaluing the securities held by public in connection with a merger. 

Stonewall Farms, Ltd. and Robert Barsk v. Jordan Belfort, Daniel Porush and Stratton Oakmont, Inc. et.al.  NASD No. 95-00733 NASD Arbitration: Amount Requested: $170,000. Date of Decision: 5/30/96 Amount Awarded: $122,000 in compensatory damages, $25,000 in attorney’s fees plus costs. Total award in excess of $147,000. Case involved allegations of market manipulation, unsuitable recommendations, material misstatements and omissions and fraud. 

Richard Shandelman v. Jordan Belfort, Daniel Porush, Ken Greene and Stratton Oakmont, Inc. et.al. NASD No. 94-05085 NASD Arbitration: Amount Requested: $109,000 Date of Decision: 5/22/96 Amount Awarded: $93,000 plus interest. Case involved allegations of market manipulation, unsuitable recommendations, material misstatements and omissions and fraud. 

Prudential Securities Litigation  Index No. MDL 1005 Securities Class Action against Prudential Securities Inc. concerning allegations of misrepresentation and omissions concerning the safety characteristics of limited partnerships marketed by Prudential to the investing public. Date of Settlement: 1995 Amount of Settlement: $100,000,000.00. 

Metropolitan Life Derivative Litigation Index No. 93-Civ-9035 (DC) Date of Settlement: 1995 Settlement Amount: $4,000,000.00. Case involved allegations of breach of fiduciary duty by board of directors and corporate mismanagement. 

HMO America Securities Litigation  Index No. 92-Civ.-3305 (CPK) Securities Class Action against directors regarding allegations of misrepresentation of claims reserves resulting in elevated stock values. Date of Settlement: 1993 Amount of Settlement: $4,000,000.00. 

The Regina Company  Inc. Securities Litigation Index No. 88-4149 (NHP) (Securities Class Action against Chairman and CFO of former Regina Vacuum Cleaner Company and Big Six Accounting firm), Allegations of accounting irregularities, financial fraud and misrepresentation resulting in inflated stock values. Date of Settlement: 1992 Amount of Settlement: $7,300,000.00. 

Areas Of Practice

  • Securities Law

Bar Admissions

  • New York, 1984
  • Massachusetts, 1983
  • U.S. District Court Southern District of New York, 1985
  • U.S. District Court Eastern District of New York, 1985
  • U.S. District Court Northern District of New York, 1998

Education

  • St. John’s University School of Law, Jamaica, New York
    • J.D. – 1983
    • Honors:
      With Honors
  • College of the Holy Cross, Worcester, Massachusetts
    • B.A. – 1978
    • Major:
      History

Published Works

  • “Chopping the Chop Shop,” Securities Arbitration Handbook, Practicing Law Institute, 1997
  • “The Ramifications of U.S. v. Vogel Fertilizer”, 5 St. John’s University, Tax Forum, No. 1, 1983

Representative Cases

  • Herbert Voss v. Danard Warthan Brown, Legend Securities, Inc. et al., FINRA No. 17-00910, Date of Award November 2018, Amount of Award $1,075,000 plus interest
  • Maria Cadilla v Popular Securities LLC, FINRA No. 15-02330, Date of Award March 2018, Amount of Award $250,000 including $50,000 in Attorneys’ Fees
  • Stella Patterson and Jack Patterson v. Ladenburg Thalmann & Co. Inc., FINRA No. 16-00972, Date of Award October 2017, Amount of the Award $357,775
  • Rafael Vizcarrondo and Mercedes Imbert De Jesus v. UBS Financial Services Inc. and UBS Financial Services Inc. of Puerto Rico, FINRA No. 14-02464, Date of Award: December 2016, Amount of Award: $18,577,413.5
  • TWC Financial LLC SIPIC Liquidation Proceedings, Docket No. 13-01152-ess, United States Bankruptcy Court Eastern District New York, Date December 2016
  • FINRA Regulatory Enforcement Proceeding (AWC No. 2015046355401) against Oppenheimer & Co. Inc., Dated November 2016, Restitution Awarded: $336,081.00
  • Iris Rodriguez v. UBS Financial Services Inc. and UBS Financial Services Inc. of Puerto Rico, FINRA No. 13-03625, Date Settled: February 2016
  • Julio Cay-Montanez and Gloria S. Martinez-Torres v. UBS Financial Services Inc. and UBS Financial Services Inc. of Puerto Rico, FINRA No.13-03785, Dated October 2015
  • SEC Investigation World-Wide Martial Arts, Inc.et al(NT-8832), Administrative Proceeding File No.3-16505
  • John S. Patterson and Stella C. Patterson v. Ladenburg Thalmann & Co. Inc., Docket No. L-1435-14, Superior Court of New Jersey, Law Division Ocean County, Order dated December 19, 2014
  • John S. Patterson and Stella C. Patterson v. Ladenburg Thalmann & Co. Inc., Docket No. L-1435-14, Superior Court of New Jersey, Law Division Ocean County, Order dated October 24, 2014
  • TWC Financial LLC SIPIC Liquidation Proceedings, Docket No. 13-01152-ess, United States Bankruptcy Court Eastern District New York, Date of SIPIC settlement: March 5, 2014
  • Weiss v. David A. Noyes & Co., FINRA No. 12-01628, Date of Settlement: March 2014
  • John S. Patterson and Stella C. Patterson v. Oppenheimer & Co. Inc., FINRA No. 12-01229, Date of Settlement: August 2013
  • Dennis Spina v. Ladenburg Thalmann & Co. Inc., Docket No. 2013-CP-07-02232, Court of Common Pleas, South Carolina, 14th Judicial District, Date of Court Order August 2013
  • Dennis Spina v. Oppenheimer & Co. Inc., FINRA No. 11-0366, Date of Settlement: April 2013
  • Louis Pitch and Donna Pitch v. Oppenheimer & Oppenheimer & Co. Inc., FINRA No. 09-07047, Date of Decision: January 29, 2013
  • Pitch et al. v. American Capital Partners LLC, FINRA No. 11-01760, Date of Settlement September 2012
  • Denefrio v. Investors Capital Corporation et al., FINRA No. 10-04721, Date of Settlement March 2012
  • Charles Schwab & Co. Inc. v. D. Vollstedt and S. Vollstedt TTEE, Steven and Deborah Vollstedt, No. Civ. 11-0709 RB/CEG, Date of Decision: January 10, 2012
  • D. Vollstedt and S. Vollstedt TTEE, Steven and Deborah Vollstedt v. Charles Schwab & Co. Inc., FINRA No. 09-06446, Date of Decision: July 22, 2011
  • Louis Pitch and Donna Pitch v. Mark C. Hotton et. al., Index No. 09-5599, United States District Court, Eastern District of New York, Date of Filing: December 2009
  • Lyons v. Merrill Lynch and Phua Young, Case #03-04172, NASD Arbitration: Amount Requested: $625,000, Date of Decision: July 16, 2006
  • David and Jonathan Libman v. David Garfinkel, First Montauk Securities Corp. et.al., NASD No. 03-02094, NASD Arbitration: Amount Requested: $300,000, Date of Decision: 2/24/06
  • Naomi Sayegh v. J. Peter Ricketts, Ameritrade, Inc., Ameritrade Holding, Corp., and Accutrade, Inc., NASD No. 02-00652
  • Nationwide Life Insurance Company v. Helen Constans Christopher Rutland and Barbara Grahams, Index No. 01 CIV 3320 (DRD), Date of Court Order: January 2002
  • Carmine and Mary Ricca v. Adam Sanders, Salvatore Tacher, Kessington Wells, Inc. et.al., NASD No. 98-03031, NASD Arbitration: amount requested $75,000., Date of Decision 8/17/01
  • Robert and Fran Lax v. Kensington Wells, Inc., Joel Grant et. al., NASD No. 97-00061, NASD Arbitration: amount requested: $436,250, Date of Decision: 11/17/99
  • Louis and Dorothy Dequine et. al. v. Daniel Porush, Eric Blumen and Stratton Oakmont, Inc., NASD No. 95-01335, NASD Arbitration: Amount requested: $283,000, Date of Decision: 2/10/99
  • Matter of the Estate of Sam Gottlieb v. Robert Stier, NASD # 97-00571, NASD Arbitration: Amount Requested: $192,000
  • Carol Hovanec, Dr. Marshal Pitts, et.al. v. Allan Viscardi, World Invest Corporation et. al., NASD No. 97-03034, NASD Arbitration: Represented twelve Claimants through hearing. Amount requested: $1,146,500, Date of Decision: 8/28/98
  • George Pentz, Arlemont Ranch et.al. v. Jordan Belfort, Daniel Porush, Stratton Oakmont, Inc. et. al., NASD No. 94-02830, NASD Arbitration: Amount Requested: $713,000, Date of Decision: 4/1/98
  • Peter and Jeanne Celiberti v. Daniel Porush, James Kelly and Stratton Oakmont, Inc., NASD No. 96-01053, NASD Arbitration: Amount Requested: $223,000, Date of Decision: 6/19/97
  • Stonewall Farms, Ltd. and Robert Barsk v. Jordan Belfort, Daniel Porush and Stratton Oakmont, Inc. et.al., NASD No. 95-00733, NASD Arbitration: Amount Requested: $170,000, Date of Decision: 5/30/96
  • Capital Realty Investors Tax Exempt Fund, Delaware Chancery Court, Index No. 14558, Date of Settlement: 1996
  • Richard Shandelman v. Jordan Belfort, Daniel Porush, Ken Greene and Stratton Oakmont, Inc. et.al., NASD No. 94-05085, NASD Arbitration: Amount Requested: $109,000, Date of Decision: 5/22/96
  • Metropolitan Life Derivative Litigation, Index No. 93-Civ-9035 (DC), Date of Settlement: 1995
  • Jeffrey B. Sciallo et al. v. Tyco International Ltd. et al., Civil Action No. 03-1354-B
  • G. Brooks Biddle et. al. v. Comprehensive Environmental Systems, Inc. et. al., Case No. 96 Civ. 343
  • Frist Capital Partners, Thomas F. Frist and Patricia F. Elcan v. Ideon Group, Inc., Paul G. Kahn and William Lackey, 96 Civ.3906 (WK) U.S. District Court S.D.N.Y.
  • PaineWebber Limited Partnerships Litigation, Index No. 94-Civ-8457 (SHS)
  • Prudential Securities Litigation, Index No. MDL 1005
  • HMO America Securities Litigation, Index No. 92-Civ.-3305 (CPK)
  • The Regina Company, Inc. Securities Litigation, Index No. 88-4149 (NHP)

Representative Clients

  • City of Richmond VA
  • The Benjamin Companies
  • Citizens Securities Inc.
  • Citizens Bank N.A.

Classes/Seminars

  • Faculty Member, Securities Arbitration, Practicing Law Institute

Honors and Awards

  • Rated AV by Martindale-Hubbell
  • Listed in the Bar Register of Preeminent Lawyers

Professional Associations and Memberships

  • Association of the Bar of the City of New York, Member, Securities and Commodities Law Panel
  • New York State Bar Association, Member
  • National College of District Attorneys, Member
  • Public Investors Arbitration Bar Association, Member

Past Employment Positions

  • United States Securities and Exchange Commission, Division of Enforcement, Washington, DC, Attorney, 1987 to 1989
  • District Attorney’s Office, Nassau County, New York, Assistant District Attorney, 1984 to 1987