Michael Babyak Jr, II (Michael Babyak), Financial Advisor Barred from Securities Industry | Goodman and Nekvasil May Recover Investors Losses

Goodman and Nekvasil May Recover Investors Losses | Michael Babyak Jr, II (Michael Babyak), Financial Advisor Barred from Securities Industry 

Michael Babyak was barred from association with any FINRA member in any capacity indefinitely. Michael Babyak entered into a Letter of Acceptance, Waiver and Consent with the Financial Industry Regulatory Authority (FINRA) Department of Enforcement to resolve allegations FINRA made against him regarding violations of securities industry rules.

FINRA reports Michael Babyak consented to the sanctions and to the entry of findings that while associated with a member firm, Michael Babyak participated in private securities transactions without providing adequate prior written or oral notice to the firm.

FINRA found that Michael Babyak had the customers invest a total of $4.25 million into a limited liability company (LLC) that he set up. FINRA further finds that Michael Babyak caused the LLC to loan the $4.25 million to a third party for the benefit of his customers. The findings also stated that Michael Babyak arranged for the LLC to use funds repaid from the $4.25 million loan to extend loans on behalf of the customers to two additional borrowers without notifying the firm that he was participation in these additional transactions.

FINRA’S Broker Check states that Michael Babyak was a registered representative of LPL Financial LLC from January 1994 through December 2015. FINRA also reports that Michael Babyak was registered with Leigh Baldwin & Co., LLC, from December 2015 until September 2016.

Goodman & Nekvasil, P.A., a Clearwater, Florida, law firm with a national practice representing victimized investors, continues to investigate brokerage firms that placed elderly retirees and other conservative investors in high-risk investments.

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. We would like to discuss the possibility of your retaining our firm to represent you in an arbitration action.

Goodman & Nekvasil, P.A., has filed hundreds of cases against brokerage firms selling high-risk investments and has recovered more than $180 million dollars on behalf of victimized investors.  We allege in these cases that these investment recommendations were unsuitable for our clients in view of their financial situation, needs and investment objectives.  All our cases are handled on a purely contingency fee basis.

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. Finally, the filing of such a case should not affect your ownership of these investments in any way.

If you incurred losses on your investment with Michael Babyak Jr, II, you may be able to recover your losses from LPL Financial LLC and/or Leigh Baldwin & Co., LLC. This is because LPL Financial LLC and Leigh Baldwin & Co., LLC had a duty to supervise Michael Babyak Jr, II. If you 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.

Contact Us Today!

1 Step 1
FormCraft - WordPress form builder