Last Updated: September 2023 (Ronkonkoma, New York)
Mitchell Biernick Investigation Summary
Here’s what you need to know about Romkonkoma, New York, stockbroker Mitchell Biernick:
- Name: Mr. Mitchell Scott Biernick
- Current Employer: Not Registered-Barred by FINRA
- Previous Firms: Newbridge Securities, Arive Capital Markets, J.P. Turner & Co. American Capital Partners
- Function: Former Stock Broker/ Financial Advisor
- Aliases: None
- Primary Location: Ronkonkoma, New York
- CRD 2690172
- Can Mitchell Biernick be sued in FINRA arbitration: Yes
- Sanctioned by FINRA: Yes
- Highest Settlement: $85,000
Discuss your case with experienced investment fraud lawyer Bob Rex at (877) 224-3199 for a free consultation.
Did You Lose Money With Mitchell Biernick As Your Stockbroker?
In 10/2022 FINRA permanently barred Mitchell Biernick from the securities industry to resolve allegations that Biernick refused to cooperate with a FINRA investigation into the suitability of certain securities transactions he recommended to his customers while he as working for Arive Capital Markets.
In 2005, while employed by American Capital Markets a customer filed an arbitration alleging that Biernick churned their account, made unauthorized trades and made unsuitable recommendations. The case was settled for $85,000.
In 2015 a customer of J.P. Turner alleged that Biernick churned their account and made unsuitable recommendations causing damages of $106,000. The customer apparently did not seek assistance of counsel and the company closed the claim with no action.
Has Your Brokerage Firm “Denied” Your Claim for Damages Due to Stockbroker Malpractice?
It is quite common, as well as predictable, for brokerage firms to deny a customer’s complaint made directly to the company. Firms know that in many, if not most, instances telling the customer “we don’t think it’s our fault” will be an end to the problem. In other words, it’s generally a waste of your time to sit down with the office manager & the broker.
They seldom, if ever, offer any resolution or if they do, will attempt to have you resolve your case for a fraction of what it is actually worth.
We suggest that if you think there is a problem with the way your account has been handled, or if you have had your claim “denied”, talk to an experienced securities attorney.
Allegations of Broker Misconduct Against Mitchell Biernick
Customers of Mitchell Biernick have alleged the following wrongdoing in connection with the handling of customer accounts:
- Unsuitable Investment Recommendations
- Churning
- Unauthorized trading
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 Mitchell Biernick , contact us for a complimentary consultation with an experience 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.
