Michael Murphy – Michael Patrick Murphy, Complaint Filed by FINRA

Goodman & Nekvasil P.A., May Recover Investor Losses | Michael Murphy – Michael Patrick Murphy, Complaint Filed by FINRA 

CRD # 2596905

Michael Murphy has been licensed with Columbus Advisory Group, Ltd. Since 2003. FINRA reports that it has filed a complaint against Michael Murphy.  

ACCORDING TO FINRA:  From February 2014 through May 2018, Michael Patrick Murphy willfully failed to timely amend his Uniform Application for Securities Industry Registration or Transfer (“Form U4”) to disclose three federal income tax liens filed by the IRS (the “IRS Liens”) and four tax warrants filed by the State of New York (the “NY State Tax Warrants” and, collectively, the “Liens”) totaling more than $6 million. As required by law, the IRS and NY State send contemporaneous notices of liens to delinquent taxpayers. Murphy ignored his obligation to report the Liens after receiving those notices from the IRS and NY State. Beginning in May 2015, FINRA sent Michael Murphy letters notifying him of tax liens it had identified through public records searches and reminding him of his obligation to report those liens. Despite this prompting, Michael Murphy still failed to disclose his liens. After more than two years of correspondence in which FINRA asked Murphy to report his Liens, in November 2017, FINRA staff showed Murphy documentation of six of the Liens during on-the record testimony, and in February 2018 mailed him copies of that same documentation. Still, Michael Murphy did not report any of the Liens on his Form U4 until May 18, 2018, well after the 30-day period required to report such liens.

According to Michael Murphy’s CRD, an arbitration claim alleging sales practice violations against Michael Murphy has been filed. According to Michael Murphy’s CRD, these allegations include suitability, among other things. According to Michael Murphy’s CRD, this arbitration claim seeks $22,500,000 in damages.

If you lost money on investments with Michael Murphy 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 Michael Murphy’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 Michael Murphy 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.  

Investment Fraud Attorney, Stockbroker Misconduct Disciplinary Actions, Unsuitable Investment Advice, Investment Fraud, Churning, Misrepresentation and Omission of Material Facts, Elder Fraud, Unauthorized Trading, Theft, Selling Away, Unapproved Outside Business, Nationwide, PIABA, SEC, Securities Exchange Commission, NASD, National Association of Securities Dealers, NASDAQ, Dow Jones, Wall Street, New York Stock Exchange

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