Cabot Lodge Securities LLC broker Stefan Shimshidian (CRD# 3043669) is accused of GWG Holdings Inc. investment losses. He has been registered with Cabot Lodge Securities LLC in White Plains, New York, since 2013.
Stefan Shimshidian Customer Complaints
He has been the subject of two customer complaints between 2022 and 2023, according to his CRD report:
July 2023. “Claimants allege breach of fiduciary duty, negligence and negligent misrepresentation, breach of contract, failure to supervise, violation of Regulation Best Interest with regard to purchases of GWG L-Bonds in November 2020, and March 2021.” The customer is seeking $171,500 in damages, and the case is currently pending. The complaint was regarding private placement losses, and it took place while he was registered with Cabot Lodge Securities LLC.
September 2022. “Claimants allege with regards to investment in GWG L-bonds, violations of federal securities laws, New York Consumer Protection Act, breach of contract, common law fraud, breach of fiduciary duty, negligence and gross negligence.” The customer sought $235,000 in damages, and the case was settled for $134,820. The complaint was regarding private placement losses, and it took place while he was registered with Cabot Lodge Securities LLC.
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, Cabot Lodge Securities LLC may be liable for investment or other losses suffered by Stefan Shimshidian’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.
"*" indicates required fields
