Goodman & Nekvasil P.A., May Recover Investor Losses | Caroline Korn, Financial Advisor Suspended by FINRA
Caroline Korn is a formerly licensed financial advisor with Pinnacle Investments, LLC and Brighton Securities Corp. FINRA reports that Caroline Korn was discharged from Brighton Securities Corp. in 2014 for allegedly trading excessively in several accounts, generating unnecessarily high commissions.
In addition, FINRA reports that Caroline Korn was suspended from the securities and investment banking industry for 4 months in 2018. FINRA reports that Caroline Korn consented to the sanctions and to the entry of findings that Caroline Korn recommended and effected unsuitable short-term transactions involving Class A mutual fund shares for six customers. According to FINRA, the findings stated that Caroline Korn frequently recommended the purchase and subsequent sale of Class A shares within a year of purchase. According to FINRA, on average, the customers held the shares at issue for less than four months. According to FINRA, as a result of these short-term trades, five of the six customers suffered collective losses of approximately $30,254 while Korn made $7,300 in commissions on the unsuitable transactions. The findings also stated that in October 2012, Caroline Korn entered into an AWC in connection with FINRA’s findings that she exercised discretionary authority in the accounts of customers without written authorization from those customers to place discretionary trades.
According to FINRA, when Caroline Korn returned to her member firm in March 2013, after having served her FINRA suspension, the firm placed her on heightened supervision. According to FINRA, As part of that heightened supervision plan, Korn was prohibited from exercising discretion in customer accounts. Nevertheless, according to FINRA, between March 2013 and March 2014, while registered with the firm, and between April 2014 and April 2015, while registered with another member firm, Caroline Korn exercised discretion in the accounts of customers without having obtained written authorization from the customers to place discretionary trades and without either firm having accepted the accounts as discretionary.
If you lost any money on investments with Caroline Korn, you may be able to recover your losses from Pinnacle Investments, LLC and/or Brighton Securities Corp. This is because Pinnacle Investments, LLC and Brighton Securities Corp. had a duty to supervise Caroline Korn.
If you lost money on investments with Caroline Korn 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 against Pinnacle Investments, LLC and/or Brighton Securities Corp. concerning Caroline Korn’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 Caroline Korn 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.