Gerald Francis Cipolla (Gerald Cipolla) Formerly Licensed with PFS Investments Inc., Barred from Securities Industry -- Goodman & Nekvasil P.A, May Recover Investor Losses

Goodman & Nekvasil P.A, May Recover Investor Losses - Gerald Francis Cipolla (Gerald Cipolla) Formerly Licensed with PFS Investments Inc., Barred from Securities Industry 

From 1993 until 2015, Gerald Cipolla was licensed with PFS Investments Inc., in Rego Park, New York.

FINRA brought a disciplinary action against Gerald Cipolla in 2016. FINRA reports that Gerald Cipolla consented to a bar from the securities industry. Gerald Cipolla consented to the entry of findings that Gerald Cipolla failed to produce certain documents and information requested by FINRA related to an investigation regarding potential conversion related to Gerald Cipolla’s purchase of shares of stock in an initial public offering (IPO) using funds from Gerald Cipolla’s co-workers, complaints by customers regarding unsuitable investment recommendations, and Gerald Cipolla’s potential failure to disclose certain financial events to Gerald Cipolla’s employing member firm and on Gerald Cipolla’s Form U4.

FINRA reports two arbitration claims/complaint were filed alleging sales practice violations against Gerald Cipolla. The claims alleged that Gerald Cipolla misrepresented the guaranteed return of fixed indexed annuities and that Gerald Cipolla’s recommendation to exchange variable annuity accounts for mutual fund accounts was unsuitable, and/or that ineligible co-workers provided funds to Gerald Cipolla to purchase IPO shares of Primerica Financial Services for their benefit. The claims were settled for $45,000 and $54,556.

FINRA also reports seven different unsatisfied and outstanding judgements/liens against Gerald Cipolla.

If you lost any money on investments with Gerald Cipolla, you may be able to recover your losses from PFS Investments Inc. This is because PFS Investments Inc. had a duty to supervise Gerald Cipolla.

If you lost money on investments with Gerald Cipolla, and believe that the investments may have been unsuitable or otherwise improper for you, we would like to discuss the possibility of your retaining our firm to represent you in an arbitration action against PFS Investments Inc., concerning Gerald Cipolla’s conduct. There is no charge for an evaluation of your case. Further, we handle our cases on a contingency fee basis. This means that unless we recover money for you, we charge no attorney’s fee. Unless you recover any money, you pay us nothing, not even the costs and expenses which the firm will advance on your behalf.

Kalju Nekvasil, Esq, formerly regional counsel with the NASD, now known as FINRA, has practiced in this area of the law for more than 35 years. Goodman & Nekvasil, P.A. has recovered more than $170 million on behalf of victimized investors. If you lost money on any investments with Gerald Cipolla and would like your case evaluated by a securities attorney (again, there is no charge for an evaluation and all cases are handled on a purely contingency fee basis), please contact us.   

 

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