CHICAGO, March 19, 2014 (GLOBE NEWSWIRE) -- The securities arbitration law firm of Stoltmann Law Offices announced today that it has filed a FINRA Statement of Claim requesting damages for churning, excessive trading, unsuitable investment recommendations and fraud against Rockwell Global Capital. The Statement of Claim alleges three of Rockwell's financial advisors, Robert E. Lee, Douglas Guarino and Lawrence Lee, churned or excessively traded a client's account.
According to Robert E. Lee's CRD report, he was recently barred from the securities industry by FINRA for "providing inaccurate written information to a customer regarding the customer's account and investments." He had previously been discharged from another employer for allegations relative to the handling of an account. In addition, Robert Lee has at least seven customer complaints, two internal reviews and five judgments or liens. Mr. Guarino has ten disclosed customer complaints.
According to Chicago securities attorney Andrew Stoltmann "Rockwell Global Group had a duty to supervise the handling of client accounts. Failure to do so can make the firm liable for any of the losses sustained by the investors." Stoltmann has handled close to 1000 FINRA arbitration claims in the last 14 years alleging claims for unsuitable investment recommendations, conversion, breach of fiduciary duty, selling away, fraud and other related issues.
If you wish to discuss this announcement or securities fraud claims involving Robert E. Lee, Douglas Guarino and Lawrence Lee, please contact Andrew Stoltmann of Stoltmann Law Offices at 312.332.4200 or visit www.InvestmentFraud.PRO