Goodman & Nekvasil P.A, May Recover Investor Losses – Michael Willard Korson (Michael Korson) Barred from Securities Industry and Permitted to Resign from PFS Investments Inc.
From 1991 until Michael Korson’s resignation in 2013, Michael Korson was licensed with PFS Investments Inc. Michael Korson was subsequently licensed with HBW Securities LLC. According to FINRA records, Michael Korson was permitted to resign on February 20, 2013. PFS Investments Inc. reported to FINRA that Michael Korson was permitted to resign after information was obtained indicating that Michael Korson was involved in an unapproved outside business activity for which Michael Korson had solicitated at least one investor.
Subsequent to Michael Korson’s resignation, FINRA brought a disciplinary action against Michael Korson in 2017. FINRA reports that Michael Korson consented to a bar from the securities industry. Michael Korson consented to the entry of findings that Michael Korson failed to timely and accurately notify Michael Korson’s member firm of Michael Korson’s outside business activities, My Coupon Genie, Inc., contrary to the firm’s requirement. The findings stated that on a disclosure form to the firm, Michael Korson falsely stated when Michael Korson’s involvement with compensation from My Coupon Genie, Inc. first began. The findings also stated that Michael Korson participated in private securities transactions involving Michael Korson’s outside business, My Coupon Genie, Inc., with the sale of convertible debentures to firm customers and preferred stock to non-customers, without providing prior written notice to his firms. The findings also stated that Michael Korson misused Michael Korson’s outside business’ investor funds by charging personal expenses to Michael Korson’s outside business corporate credit card and using the business’ checking account to pay its corporate credit card balances.
If you lost any money on investments with Michael Korson, you may be able to recover your losses from PFS Investments Inc. and/or HBW Securities LLC. This is because PFS Investments Inc. and HBW Securities LLC had a duty to supervise Michael Korson.
If you lost money on investments with Michael Korson, and believe that 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 PFS Investments Inc. and/or HBW Securities LLC, concerning Michael Korson’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 $300 million on behalf of victimized investors. If you lost money on any investments with Michael Korson 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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