GOODMAN & NEKVASIL P.A, MAY RECOVER YOUR INVESTMENT LOSSES – ELAINE DIONES LACERTE SUSPENDED FROM SECURITIES INDUSTRY
Elaine LaCerte was suspended from the securities and investment banking industry for six months by the Financial Industry Regulatory Authority (FINRA) in August 2017. Elaine LaCerte consented to the entry of FINRA findings that Elaine LaCerte engaged in an unsuitable pattern of short-term trading of Unit Investment Trusts (UITs) in 107 customer accounts. Elaine LaCerte consented to findings that Elaine LaCerte repeatedly recommended that customers purchase UITs and then sell these products well before their maturity dates. In addition, Elaine LaCerte consented to findings that on more than 100 occasions Elaine LaCerte recommended that Elaine LaCerte’s customers use the proceeds from the short-term sale of a UIT to purchase another UIT with identical investment objectives. Elaine LaCerte consented to findings that Elaine LaCerte’s recommendations caused the customers to incur unnecessary sales charges, and were unsuitable in view of the frequency and cost of the transactions.
FINRA reports that two previous arbitration claims were filed alleging that Elaine LaCerte recommended unsuitable investments and misrepresented investment risk. These claims against Elaine LaCerte were settled by Morgan Stanley Smith Barney.
FINRA also reports two pending arbitration claims against Morgan Stanley alleging Elaine LaCerte misrepresented investments and made unsuitable investment recommendations. One of those claims involving Elaine LaCerte alleges damages of $68,861.93.
If you lost any money on investments with Elaine LaCerte while Elaine LaCerte was employed with Morgan Stanley (Jun. 2009 – Aug. 2016), you may be able to recover your losses from Morgan Stanley. This is because Morgan Stanley had a duty to supervise Elaine LaCerte.
We would like to discuss the possibility of your retaining our firm to represent you in an arbitration action against Morgan Stanley concerning Elaine LaCerte’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 investments with Elaine LaCerte 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.