Ralph Christopher Calabro Barred from Securities Industry – Goodman & Nekvasil P.A, May Recover Your Investment Losses
Goodman & Nekvasil P.A, May Recover Your Investment Losses - Ralph Christopher Calabro Barred from Securities Industry
Ralph Calabro was licensed with National Securities Corporation from 2011 to 2013. Ralph Calabro was barred from the securities and investment banking industry by the Securities and Exchange Commission (SEC) on May 29, 2015. Ralph Calabro was also fined $150,000, ordered to pay a monetary penalty of $45,997.68 in prejudgment interest, and disgorged of $247,945 by the SEC. The SEC Administrative Law Judge found that Ralph Calabro engaged in unauthorized and excessive trading and Ralph Calabro unilaterally devised and carried out an investment strategy contrary to the customer’s investment objectives and risk tolerance, which resulted in a substantial gain for Ralph Calabro and a massive loss for the customer. The Administrative Law Judge concluded that Ralph Calabro acted intentionally, that is, with scienter, and churned the customer’s account.
FINRA reports that eight complaints and/or arbitration claims involving Ralph Calabro’s conduct with J.P. Turner & Company, L.L.C. and/or National Securities Corporation have been filed. These complaints allege churning, excessive trading, suitability, unauthorized trading, fraudulent activity, misrepresentation, breach of fiduciary duty, violation of State and Federal securities laws, breach of contract, and/or common law fraud. These eight complaints and/or arbitration claims involving Ralph Calabro’s conduct all settled, with the largest settling for $2,500,000, $2,500,000, $525,000, $140,000, and $139,000.
FINRA also reports that an arbitration claim involving Ralph Calabro’s conduct is currently pending, with alleged damages of $924,254.
If you lost any money on investments with Ralph Calabro while Ralph Calabro was employed with National Securities Corporation you may be able to recover your losses from National Securities Corporation. This is because National Securities Corporation had a duty to supervise Ralph Calabro.
If you lost money on investments with Ralph Calabro 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 National Securities Corporation concerning Ralph Calabro’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. If you lost money on investments with Ralph Calabro 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.
Keywords: Ralph Christopher Calabro, Ralph Calabro, Calabro, Ralph Chris Calabro, Goodman and Nekvasil, Nekvasil, Goodman, Investment, Broker, Brokerage, SEC, FINRA, Securities, Securities Attorney,Back to Blogs