Andre Labarbera – Andre Vincent LaBarbera, Financial Advisor Barred by FINRA | Goodman & Nekvasil P.A., May Recover Investor Losses
Andre LaBarbera, Andre Vincent LaBarbera CRD #2072370
Andre LaBarbera was formerly licensed with Titus Rockefeller, LLC in New York. According to Andre Labarbera’s CRD, Andre LaBarbera was barred from the securities industry in March 2018
According to FINRA: Extended Hearing Panel decision rendered October 17, 2016 wherein LaBarbera was fined $125,000, less any amounts that he can demonstrate he has paid in restitution, was ordered to pay $86,940.35, jointly and severally, plus interest, in restitution to customers, was ordered, jointly and severally, to pay costs in the amount of $40,353.38, and was barred from association with any FINRA member in any capacity. The sanctions were based on findings that LaBarbera recommended quantitatively unsuitable trading in the accounts of customers. The findings stated that the trading activity in all of the customer accounts at issue was excessive and inconsistent with the customers’ financial circumstances and investment objectives. The findings also stated that LaBarbera churned the accounts of customers, in violation of Section 10(b) and Rule 10b-5 of the Securities Exchange Act of 1934 and FINRA Rule 2020. In all of the customer accounts at issue, the benefits to LaBarbera far outstripped any likely return to the customers from the trading, making it manifest that he was trading for his own benefit without regard to the interests of the customers. Accordingly, LaBarbera acted in willful and reckless disregard of the customers’ interest. The findings also included that LaBarbera made qualitatively unsuitable recommendations of transactions involving leveraged or inverse exchange traded products to customers. The Hearing Panel dismissed the charge that LaBarbera mismarked certain solicited trades as unsolicited. On November 11, 2016, LaBarbera appealed the decision to the NAC. The sanction is not in effect pending the review. NAC Decision rendered May 23, 2018, wherein the NAC affirmed the findings and modified the sanctions imposed by the Office of Hearing Officers (OHO). The sanctions were based on findings that LaBarbera engaged in excessive trading and churned customers’ accounts in violation of Section 10(b) of the Exchange Act and Rule 10b-5, NASD Rule 2120 and FINRA Rule 2020. LaBarbera also made unsuitable recommendations to customers. The decision became final June 25, 2018.
According to Andre Labarbera’s CRD, a customer dispute was filed alleging churning and unauthorized trading over a ten-year period, fraudulent extension of margin credit in spite of signing a margin agreement, breach of fiduciary duty when no fiduciary duty existed and common law fraud among other allegations. According to Andre Labarbera’s CRD, this customer dispute is pending and alleges damages of $1,554,000.
If you lost any money on investments with Andre LaBarbera, you may be able to recover your losses. If you lost money on investments with Andre LaBarbera and believe 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 concerning Andre LaBarbera’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 $180 million on behalf of victimized investors. If you lost money on investments with Andre LaBarbera 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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