Public records indicate that a former client of Citigroup Global Markets, Inc. filed a FINRA arbitration claim against the firm related to allegations that broker Keith D’Agostino (CRD# 2837860) recommended the sale of structured notes to retirees living on a fixed income.
Speculative in nature, structured notes are only appropriate for investors with risk tolerance and who are willing to see a significant decline in their holdings. These market-linked investments coupon to investors from the date of purchase through the date of maturity, which is typically in a 24-month period. In the case at hand, payment was connected to the performance of several individual stocks, including:
- Caterpillar
- Haliburton
- Netflix
- Overstock.com
- Papa Johns
- Skyworks Solutions
- Ulta
- Under Armour
The broker allegedly traded millions of dollars of shares of the stocks, some of which were penny stocks, that were speculative in nature. The complaint alleges that most trades resulted in investment losses and there were few profitable trades for the investors, who were inexperienced at trading and not aware of the risks associated with structured notes.
Keith D’Agostino Customer Complaints
He is currently registered with EF Hutton in Woodbury, New York, since 2023. Previously, he was registered with Aegis Capital Corp. in Melville, New York, from 2014-2023.
He has been the subject of 10 customer complaints between 2013 and 2023, according to his CRD report:
January 2024. “Time frame: unspecified. Claimants allege unsuitability, breach of fiduciary duty and fraud.” The case is currently pending. The case was regarding common and preferred stocks. The complaint took place while he was registered with Aegis Capital Corp.
November 2023. “Time frame: February 2018 – present. Client alleges poor performance.” The customer is seeking $60,000 in damages, and the case is currently pending. The case was regarding common and preferred stocks. The complaint took place while he was registered with Aegis Capital Corp.
August 2023. “Claimants allege unsuitable investments.” The case is currently pending. The case was regarding common and preferred stocks. The complaint took place while he was registered with Aegis Capital Corp.
August 2023. “Time frame: 2017 – present. Claimant alleges unsuitable investments.” The case is currently pending. The case was regarding common and preferred stocks and real estate securities. The complaint took place while he was registered with Aegis Capital Corp.
June 2023. “Time frame: July 2021 – May 2023. Claimant alleges unsuitable investment recommendations.” The customer sought $300,000 in damages, and the case was settled for $325,000. The case was regarding common and preferred stocks. The complaint took place while he was registered with Aegis Capital Corp.
May 2023. “Time frame: 2021 – Present. Claimant alleges unsuitable investments.” The case is currently pending. The case was regarding common and preferred stocks. The complaint took place while he was registered with Aegis Capital Corp.
March 2023. “Time Frame: August 2021 – Present. Client alleges poor performance and suitability.” The customer sought $118,234.37 in damages, and the case was settled for $90,000. The case was regarding common and preferred stocks. The complaint took place while he was registered with Aegis Capital Corp.
February 2022. “Time frame: August 2018 – present. Suitability, misrepresentation and omission of material facts, breach of fiduciary duty.” The customer sought $400,000 in damages, and the case was settled for $35,000. The case was regarding private placements. The complaint took place while he was registered with Aegis Capital Corp.
May 2017. “Time frame: 01/01/2016 to 12/31/2016: client alleges poor performance.” The customer sought $170,000 in damages, and the case was settled for $92,000. The complaint took place while he was registered with Aegis Capital Corp.
Pursuant to FINRA Rules, member firms are responsible for supervising a broker’s activities during the time the broker is registered with the firm. Therefore, Aegis Capital Corp. may be liable for investment or other losses suffered by Keith D’Agostino’s customers.
Erez Law represents investors in the United States for claims against brokers and brokerage firms for wrongdoing. If you have experienced investment losses, please call us at 888-840-1571 or complete our contact form for a free consultation. Erez Law is a nationally recognized law firm representing individuals, trusts, corporations and institutions in claims against brokerage firms, banks and insurance companies on a contingency fee basis.
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