INVESTOR ALERT—Paul DiPietro Has Eight Customer Complaints Since 2008
The Wolper Law Firm is currently investigating claims against Paul DiPietro, a Financial Advisor at Dawson James Securities in Boca Raton, FL. Paul DiPietro has been in the securities industry since 2000 and previously worked for four brokerage firms that have since been expelled by the Financial Industry Regulatory Authority (FINRA).
According to publicly available records released by the Financial Industry Regulatory Authority (FINRA), Paul DiPietro has been the subject of an eye popping eight (8) customer complaints for various sales practice violations, including unsuitability and churning. Among the specific complaints against Paul DiPietro include:
- April 2018—“Claimant alleges that his account was churned and placed in unsuitable securities by the representatives of Dawson James and Spartan.” Alleged damages are $100,000 and the matter remains pending.
- December 2014—“Customer claims that rep failed to follow instructions by not executing orders as instructed which caused the customer losses…” Alleged damages were $126,105.
- December 2014—“Customer claims that rep failed to follow instructions by not executing orders as instructed which caused the customer losses…” Alleged damages were $115,010.
- June 2012—“Claimant alleges unsuitable trading in a split registered representative brokerage account…” The matter was settled for $20,000.
- January 2008—Client alleges “investment losses, suitability, churning, failure to supervise.” The matter was settled for $160,000.
To review the disclosure history for Paul DiPietro, click https://brokercheck.finra.org/individual/summary/4313454#disclosuresSection.
Financial advisors have a legal and regulatory obligation to recommend only suitable investments that are appropriate for their clients’ needs and objectives. Their employing brokerage firm (in this case Fairport Capital) has a legal and regulatory obligation to supervise the Financial Advisors’ sales practices and dealings with clients. To the extent any of these duties are breached, the customer may be entitled to a recovery of his or her investment losses.
If you or someone you know was a customer of Paul DiPietro and you experienced investment losses, please contact the Wolper Law Firm at 800.931.8452 or by email at mwolper@wolperlawfirm.com to discuss your specific situation and the legal options available. The Wolper Law Firm represents investors nationwide in securities litigation and arbitration.
Matt Wolper, the Managing Principal of the Wolper Law Firm, is a trial lawyer who has handled hundreds of securities cases during his career involving a wide range of products, strategies and securities. Prior to representing investors, he was a partner with a national law firm, where he represented some of the largest banks and brokerage firms in the world in securities matters.
