Last Updated: May 2024 (Los Angeles, CA)
Mitchell Pindus Investigation Summary
Here’s what you need to know about Los Angeles, CA, stockbroker Mitchell, Pindus:
- Name: Mr. Mitchell Ross Pindus
- Current Employer: Wells Fargo Clearing Services, Wells Fargo Advisors (RIA)
- Previous Firms: RBC Capital Markets
- Function: Stock Broker/ Financial Advisor/ Registered Investment Advisor
- Aliases: Mitchell Pindus
- Primary Location: Los Angeles, CA
- CRD 1268550
- Can Mitchell Pindus be sued in FINRA arbitration: Yes
- Sanctioned by FINRA: No
- Highest Settlement or Award: $35,000
- Pending Customer Dispute Seeks Damages of $200,000
Discuss your case with experienced investment fraud lawyer Bob Rex at (877) 224-3199 for a free consultation.
Did You Lose Money With Mitchell Pindus As Your Stockbroker?
[LEARN MORE]: Investigations involving other Wells Fargo brokers
A customer of Wells Fargo filed a FINRA arbitration in 4/2024 alleging that Mitchell Pindus made concentrated speculative investment recommendations without disclosing the risks of the recommendations. Damages of $200,000 are sought in this pending matter.
Earlier in his career two arbitration awards were granted to customers of Pindus. One award was for $10,000 and the other award was for $35,000.
Allegations of Broker Misconduct Against Mitchell Pindus
Customers of Mitchell Pindus have alleged the following wrongdoing in connection with the handling of customer accounts:
- Unsuitable Concentrated Speculative Investments
- Omission of facts and misrepresentations in connection with purchase of limited partnerships
[LEARN MORE]:
Investigations involving Over-Concentration
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 -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 Mitchell Pindus, 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.