Were you the victim of Emerson Equity LLC broker Michael Culwell (CRD# 5989109)? He has been registered with Emerson Equity LLC in Irvine, California, since 2013.
Michael Culwell Customer Complaints
He has been the subject of two customer complaints between 2021 and 2024, according to his CRD report:
January 2024. “Misrepresentation and unsuitable transactions on written complaint. Arbitration alleges the following: breach of fiduciary duty, violation of FINRA/NYSE/SEC rules and regulations, breach of contract, negligence, negligent supervision, violation of the securities acts and regulations, elder abuse, unjust enrichment.” The customer is seeking $444,000 in damages, and the case is currently pending. The complaint was regarding Delaware Statute Trust.
February 2021. “The customer alleges that the rep failed to conduct reasonable due diligence, recommended unsuitable transactions, and made material misrepresentations and omissions in recommending securities transactions with respect to transactions in January, 2018 and February, 2018.” The customer sought $300,000 in damages, and the case was settled for $130,000. The complaint was regarding direct investments.
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, Emerson Equity LLC may be liable for investment or other losses suffered by Michael Culwell’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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