Rex Securities Law Investment Fraud Attorney Investigates Michael Young with Classic LLC and Aurora Securities

Rex Securities Law Investment Fraud Attorney Investigates Michael Young with Classic LLC and Aurora Securities

Rex Securities Law Investment Fraud Attorney Investigates Michael Young with Classic LLC and Aurora Securities 150 150 Robert Rex, Esq.

Last Updated: December 2024 (Fargo, N. Dakota)

Michael Young Investigation Summary

Here’s what you need to know about Fargo, North Dakota, stockbroker Michael Young:

  • Name: Mr. Michael Victor Young
  • Current Employer: Aurora Securities, Classic Asset Management
  • DBA: Financial Strategies Group , , Young Financial Services
  • Previous Firms: Northstar Financial Partners
  • Function: Stock Broker/ Financial Advisor/ Registered Investment Advisor
  • Aliases: Mike Young
  • Primary Location: Fargo, North Dakota
  • CRD 3242751
  • Can Mike Young be sued in FINRA arbitration: Yes
  • Sanctioned by FINRA: No
  • Pending Customer Dispute Seeks Damages of $130,000

Discuss your case with experienced investment fraud lawyer Bob Rex at (877) 224-3199 for a free consultation.

Did You Lose Money With Michael Young As Your Stockbroker?

In 2/2024 a customer of Classic LLC filed a FINRA arbitration alleging that Mike Young was negligent, breached his fiduciary duty and violated numerous FINRA rules as well as the North Dakota Securities Act of 1951, in connection with the recommendation to invest in leveraged exchange traded funds (ETFs). A settlment of $99,000 was paid to resolve this case.

Allegations of Broker Misconduct Against Michael Young

Customers of Mike Young have alleged the following wrongdoing in connection with the handling of customer accounts:

  • Unsuitable Investment Recommendation to invest in leveraged ETFs
  • Negligence
  • Violation of FINRA Rules 2010, 2111, 3010 and 2020
  • Violation of the North Dakota Securities Act

FINRA Rule 2010-states that a brokerage firm: “in the conduct of its business, shall observe high standards of commercial honor and just and equitable principles of trade.”

[LEARN MORE]: 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.

[LEARN MORE]: FINRA Rule 2111- suitability -Regulation Best Interest

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 Mike Young, 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.

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