If you have invested with Vadim Lubarsky, you may be able to recover your losses through FINRA arbitration or securities litigation.
According to a recent FINRA disclosure event, on December 9, 2014 the SEC recently issued a "Wells Notice" indicating that the SEC made a preliminary determination to recommend that the SEC file an enforcement action against Vadim Lubarsky for allegedly violating Section 10(b) and Rule 10B-5 - which are the Federal securities fraud statutes.
In June 2014, Vadim Lubarsky resigned from his brokerage firm Commonwealth Financial Network for failing to disclosure an outside business activity and his associated involvement with the sale of promissory without approval from his brokerage firm.
In the securities industry, when a stockbroker like Vadim Lubarsky sells investments such as promissory notes that are not approved by the brokerage firm it is called “selling away”. Generally speaking, stockbrokers are required to only sell investments that have been reviewed and approved by the brokerage firm they are registered with. Even if a broker sells investments that are not approved to customers of the firm, in many cases the brokerage firm may be held liable for losses in those investments even if the investment itself was not approved. Moreover, because brokerage firms like Commonwealth have a regulatory duty to supervise its brokers like Vadim Lubarsky and the transaction itself to ensure that securities are suitable for the firm customers, brokerage firms may be held liable for “selling away” if investors suffer losses in unapproved investments.
If you are an investor that has suffered losses investing with Vadim Lubarsky or in the promissory notes he sold to you, 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 is currently representing multiple investors against Commonwealth Financial Network in FINRA arbitration.
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.
