If you have invested with Leonard V. Gallick Jr., you may be able to recover your losses through FINRA arbitration or securities litigation.

According to FINRA reports, on December 22, 2014, an arbitration was filed by clients of Leonard Gallick Jr. alleging that Leonard Gallick Jr. engaging in excessive and unsuitable trading which resulted in losses of approximately $8,000,000. In May 2013, another arbitration was filed against Leonard Gallick on similar allegations of unsuitable trading, with damages sought of approximately $1,400,000.

Excessive trading is a type of stockbroker misconduct referred to as "churning". Excessive trading or churning occurs when a broker engages in excessive buying and selling of securities in a customer’s account chiefly to generate commissions that benefit the broker.  For churning to occur, the broker must exercise control over the investment decisions in the customer’s account, such as through a formal written discretionary agreement.  Frequent in-and-out purchases and sales of securities that don’t appear necessary to fulfill the customer’s investment goals may be evidence of churning. Investors who suffer losses as a result of a stockbroker's excessive trading or churning may be able to recover those losses through FINRA arbitration.

If you have ever lost money investing with Leonard Gallick Jr. or with another stockbroker as a result of churning or excessive trading, you may be able to recover your losses through FINRA arbitration or securities litigation. Please call Kons Law Firm at (860) 920-5181 for a FREE, NO OBLIGATION consultation to discuss your investment loss recovery options.

Kons Law Firm represents investors nationwide in securities arbitration and litigation matters. To learn more about the Firm’s securities litigation and FINRA arbitration practice, please visit www.investmentfraudattorneys.com.