Our Stockbroker Loss Lawyers Represent Claimants In FINRA Arbitration

The law firm Shepherd Smith Edwards and Kantas is investigating B. Riley Wealth Management financial advisor William Mitchell Lefkowitz following a $1 million FINRA lawsuit alleging broker misconduct, including churning, unsuitable trading, and a conflict of interest involving his wife as a trustee. The firm is actively seeking to represent other investors who may have suffered losses under Lefkowitz’s management or due to a lack of firm supervision.

If you suffered investment losses while working with B Riley Wealth Management financial advisor William Mitchell Lefkowitz, please contact Shepherd Smith Edwards and Kantas (investorlawyers.com). This longtime financial advisor of 40 years is under scrutiny following allegations of broker misconduct.

Recently, our stockbroker fraud lawyers filed a FINRA lawsuit against B Riley on behalf of a former customer of Lefkowitz. This broker’s wife was the trustee for this individual—their marital relationship was a conflict of interest. Now, our Client is suing for up to $1M.

Our broker misconduct attorneys believe this is a case of alleged shocking abuse and misbehavior that went undetected for years. Meanwhile, B Riley earned hundreds of thousands of dollars in outrageous commissions.

Our Client is alleging the following: 

• Unsuitable investments
• Excessive trading, also known as churning
• A too risky options trading strategy
• Breach of contract
• Securities fraud
• Misrepresentations and omissions
• Breach of fiduciary duty
• Negligence
• Gross negligence
• Failure to supervise
• Violation of Regulation Best Interest (Reg BI)
• Unjust enrichment

This Claimant contends that as a result of this alleged broker misconduct, he was left with a huge tax bill, and he did not receive the money he was due.

Shepherd Smith Edwards and Kantas is investigating whether other customers of B Riley broker William Lefkowitz also allegedly suffered questionable investment losses. Lefkowitz ‘s BrokerCheck CRD notes at least two pending customer disputes, including a $1M investor lawsuit alleging excessive commissions and a six-figure case accusing him of unsuitability.

He was fired from at least two broker-dealers, including one where he did not disclose that he was managing his wife’s account. He has faced regulatory sanctions.

Representing Investors Who Have Fallen Victim To Financial Advisor Misconduct or Negligence

Brokerage firms are supposed to protect investors and their money. Even if they were unaware of their registered representatives’ wrongful, greedy, or careless actions, they can be sued for damages.

Why Do You Need Proven FINRA Attorneys on Your Side?

• Suing a brokerage firm is difficult; so is proving their wrongdoing or negligence, and that you are owed damages.
• Most broker-dealers would rather blame you than admit liability and pay.
• You want a knowledgeable securities law firm fighting for you while protecting your legal rights.
• If your case goes before a FINRA arbitration panel, the ruling will be final. You want to be represented by trusted FINRA attorneys who have a record of winning awards in this forum.

Shepherd Smith Edwards and Kantas FINRA Attorneys has a proven record of securing financial recovery for investors in arbitration, mediation, and litigation.

Find Out Whether You Should Sue Your Broker

Call our FINRA Attorneys at (800) 259-9010 or fill out this form.