Investors Seek $22.5 Million in Damages in Disputes with Chuck Roberts

Chuck Roberts (CRD #: 2064602), a broker registered with Stifel, Nicolaus & Company, allegedly violated state and federal laws, according to his BrokerCheck record, accessed on July 7, 2023. If you have questions about his alleged conduct as a broker, read on.

Investor Disputes

Seven disputes, filed from May 3 to June 9, 2023, named Chuck Roberts in allegations of fraud, negligence, breach of contract, and violation of state and federal laws, including the Florida Securities and Investor Protection Act and the Employee Retirement Income Security Act of 1974.

These pending disputes seek a total of $22,500,000 in damages.

On October 24, 2022, an investor filed a dispute alleging that Chuck Roberts committed negligence, including negligent misrepresentation, in relation to an outside investment in a hedge fund and investments the client purchased at Stifel, Nicolaus & Company. The client seeks $1 million in damages in this pending dispute.

On April 11, 2023, an investor alleged that Chuck Roberts misled him with regard to the risks and characteristics of certain investments.

This dispute was denied by the firm. However, investors should be aware that firms can deny disputes without an outside review. Investors can still pursue FINRA arbitration and potentially recoup their losses following a denial.

FINRA Rule 2010

FINRA Rule 2010 holds brokers to high standards of commercial honor and just and equitable principles of trade.

FINRA Rule 2020

FINRA Rule 2020 bans the use of manipulative, deceptive, or otherwise fraudulent means of influencing investors’ decisions. Misrepresenting material facts related to investments violates this rule.

What is broker negligence?

Brokers may act in many negligent ways, ranging from making unsuitable investment recommendations to engaging in excessive or unauthorized trading.

Investors who feel their losses are the result of broker negligence may be able to recover their funds by seeking out FINRA arbitration. 

What are Blue Sky Laws?

Blue sky laws are state-level regulations that provide investors with an additional layer of protection against securities fraud. They typically also define which types of investments must register with the state securities board.

Background Information

Chuck Roberts has passed the following exams:

• Series 65 – Uniform Investment Adviser Law Examination
• Series 63 – Uniform Securities Agent State Law Examination
• SIE – Securities Industry Essentials Examination
• Series 31 – Futures Managed Funds Examination
• Series 7 – General Securities Representative Examination

Chuck Roberts is a registered broker in 29 states, the District of Columbia, and Puerto Rico. He is also a registered investment adviser in Florida, New York, and Texas.

He has also worked for the following firms:

• Morgan Stanley (CRD#:149777)
• Citigroup Global Markets (CRD#:7059)
• Oppenheimer & Company (CRD#:249)
• CIBC World Markets Corporation (CRD#:630)
• M. J. Whitman (CRD#:27870)
• PaineWebber (CRD#:8174)
• Lehman Brothers (CRD#:7506)

Kurta Law Can Help

If you worked with Chuck Roberts and you have concerns about your investments, please contact us today at 877-600-0098 or info@kurtalawfirm.com for a free consultation.

For over 20 years, Kurta Law has advocated on behalf of investors who want to recover their investment losses from brokers and brokerage firms. Kurta Law is a nationally recognized law firm and exclusively represents investors against brokers and brokerage firms on a contingency basis. This means that the firm only earns a fee if our securities attorneys recover money on your behalf.