Erez Law is currently investigating former Four Points Capital Partners LLC broker Allan Montalbano (CRD# 4507029) regarding stock investment losses. Montalbano was registered with Worden Capital Management LLC in Garden City, New York from 2015 to 2017 and previously with Four Points Capital Partners LLC in Westbury, New York from 2014 to 2015. Prior to that, Montalbano was registered with National Securities Corporation in Westbury, New York from 2010 to 2014.
Montalbano has been the subject of 15 customer complaints between 2009 and 2020, two of which were closed without action, according to his CRD report. The most recent complaints are regarding:
- June 2020. “Allege that between 2014-2017, reps provided unsuitable recommendations with unsuitable concentrations, with unreasonable commissions and failure to know their customer.” The customer is seeking $543,163 in damages. The case was regarding common and preferred stocks and took place while Montalbano was registered with Four Points Capital.
- August 2018. “Breach of fiduciary duty, negligence, negligent misrepresentation, breach of contract.” The customer sought $280,000 in damages and the case was settled for $180,000. The complaint was regarding equity OTC and took place while Montalbano was registered with National Securities Corp.
- September 2017. “Churning, unsuitability, breach of fiduciary duty, common law fraud, breach of contract, and negligent supervision.” The customer sought $50,000 in damages and the case was settled for $15,000. The complaint was regarding common and preferred stocks and took place while Montalbano was registered with Worden Capital Management, LLC.
- April 2017. “Negligence, misrepresentation, breach of fiduciary duty, breach of contract.” The customer sought $500,000 in damages and the case was settled for $160,000. The complaint was regarding equity OTC and took place while Montalbano was registered with National Securities Corp.
- February 2017. “Violation of the Iowa uniform securities act, breach of fiduciary duty, negligent misrepresentation, negligence, breach of contract.” The customer sought $60,000 in damages and the case was settled for $15,000. The complaint was regarding equity OTC and took place while Montalbano was registered with National Securities Corp.
- June 2016. “Breach of fiduciary duty, negligent misrepresentation, negligence, breach of contract.” The customer sought $350,000 in damages and the case was settled for $165,000. The complaint was regarding equity OTC and took place while Montalbano was registered with National Securities Corp.
- March 2016. “Breach of fiduciary duty, negligent misrepresentation, negligence.” The customer sought $500,000 in damages and the case was settled for $210,000. The complaint was regarding equity OTC and took place while Montalbano was registered with National Securities Corp.
- March 2016. “Breach of fiduciary duty, negligent misrepresentation, negligence.” The customer sought $200,000 in damages and the case was settled for $75,000. The complaint was regarding equity OTC and took place while Montalbano was registered with National Securities Corp.
- March 2016. “Breach of fiduciary duty, negligent misrepresentation, negligence.” The customer sought $250,000 in damages and the case was settled for $115,000. The complaint was regarding equity OTC and took place while Montalbano was registered with National Securities Corp.
- March 2016. “Breach of fiduciary duty, negligent misrepresentation, negligence.” The customer sought $550,000 in damages and the case was settled for $210,000. The complaint was regarding equity OTC and took place while Montalbano was registered with National Securities 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, Four Points Capital Partners LLC may be liable for investment or other losses suffered by Montalbano’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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