Mike Donovan Woodward (Mike Woodward) Suspended from Securities Industry and Fired by Summit Brokerage Services, Inc. – Goodman & Nekvasil P.A., May Recover Investor Losses

Goodman & Nekvasil P.A., May Recover Investor Losses - Mike Donovan Woodward (Mike Woodward) Suspended from Securities Industry and Fired by Summit Brokerage Services, Inc.

From August 2010 until Mike Woodward’s firing in July 2012, Mike Woodward was licensed with Summit Brokerage Services, Inc. According to FINRA’s records, Mike Woodward was fired by Summit Brokerage Services, Inc. on July 3, 2012. Summit Brokerage Services, Inc. reported to FINRA that Mike Woodward acknowledged engaging in unauthorized trading in client accounts.

Subsequent to Mike Woodward’s firing by Summit Brokerage Services, Inc. FINRA investigated Mike Woodward and brought a disciplinary action against Mike Woodward. Mike Woodward was fined/penalized $6,471 and suspended for 15 days from the securities and investment banking industry on July 9, 2013. FINRA reports that Mike Woodward consented to the sanctions and to the entry of findings that Mike Woodward executed some unauthorized purchase transactions in the individual retirement account (IRA) and Roth IRA accounts of Mike Woodward’s member firm’s customers, without their authorization or consent. Specifically, FINRA reports that Mike Woodward purchased shares of an entity in the accounts.

FINRA also reports that a complaint was filed involving Mike Woodward’s conduct with a prior employer, alleging unsuitable investments. This complaint was settled for $67,500.

If you lost any money on investments with Mike Woodward, you may be able to recover your losses from Summit Brokerage Services, Inc. This is because Summit Brokerage Services, Inc. had a duty to supervise Mike Woodward. 

If you lost money on investments with Mike Woodward 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 Summit Brokerage Services, Inc. concerning Mike Woodward’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 approximately $300 million on behalf of victimized investors. If you lost money on investments with Mike Woodward 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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