Last Updated: January 2024 (New York, NY)
Joseph Alagna Investigation Summary
Here’s what you need to know about New York, NY, stockbroker Joseph Alagna:
- Name: Mr. Joseph Anthony Alagna, Jr.
- Current Employer: Chairman and CEO of Joseph Gunnar & Co.
- Previous Firms: First Asset Management
- Function: Stock Broker/ Financial Advisor
- Aliases: Joseph Alagna
- Primary Location: New York, NY
- CRD 1840339
- Can Joseph Alagna be sued in FINRA arbitration: Yes
- Sanctioned by FINRA: No
- Highest Settlement or Award: $702,037
- Pending Customer Dispute Seeks Damages of $2,108,923
Discuss your case with experienced investment fraud lawyer Bob Rex at (877) 224-3199 for a free consultation.
Did You Lose Money With Joseph Alagna As Your Stockbroker?
Joseph Alagna is chairman and CEO of Joseph Gunnar & Co. He discloses three awards made by FINRA arbitration panels on his CRD:
- #20-01084- Damages of $512,000 awarded. Customer alleged that Alagna failed to supervise broker who sold a private placement that declared bankruptcy two years later.
- #12-4176- Award of $702,037 on customer’s claim account was churned, over concentrated, violations of Maryland securities laws.
- #97-4504- Award of $425,000 on customer claim that Alagna failed to supervise broker who churned account.
In 1/2023 a customer of Joseph Gunnar filed a FINRA arbitration alleging that Joseph Alagna failed to supervise a broker who sold customers private placement investments that resulted in damages of $2,108,923. This matter is currently pending.
Allegations of Broker Misconduct Against Joseph Alagna
Customers of Joseph Alagna have alleged the following wrongdoing in connection with the handling of customer accounts:
- Failed to supervise brokers of Joseph Gunnar who made unsuitable recommendations, churned accounts and over concentrated accounts.
Firms Have a Duty to Supervise their Financial Advisors (FINRA Rules 3110 & 2090)
Brokers and their firms have a duty to comply with the FINRA suitability rule which requires that they have a reasonable basis to believe that a recommendation is suitable for the customer. FINRA Rule 2111- suitability
The Financial Industry Regulatory Authority (FINRA) is the agency that licenses and regulates stockbrokers and brokerage firms. FINRA requires brokers and brokerage firms to report customer complaints and disputes as well as regulatory sanctions. In addition brokers are required to disclose certain financial matters such as personal bankruptcies, judgments and liens.
Recover Your Investment Losses Now With Rex Securities Law
If you have suffered investment losses in an account handled by brokers at Joseph Gunnar & Co., contact us for a complimentary consultation with an experienced securities lawyer to learn how you may be able to recover damages through FINRA arbitration.
With offices in Boca Raton, FL and Austin, TX, stockbroker fraud attorney Bob Rex provides representation to investors nationwide who are seeking recovery of investment losses due to the negligence or fraud of stockbrokers, financial advisors and broker dealers.
If you have questions about how your account has been handled, call (877) 224-3199 to speak with an experienced securities attorney at no cost to you.
Most cases are handled on a contingent fee basis meaning that you do not pay legal fees unless we are successful.
