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Franz Lambert Embroiled in Two Investor Disputes

Nov 26, 2021 Excessive Trading

Franz Lambert (CRD #:4463792), a previously registered broker with Spartan Capital Securities, is involved in 2 pending investor disputes according to his BrokerCheck record, accessed on November 6, 2021. 

Investor Allegations

Franzƒ Lambert is involved in two pending disputes:

On August 30, 2021, a dispute was filed against Franz Lambert alleging excessive commission and churning from 2014-2017. Churning is a very common practice in the financial industry. It occurs when brokers execute trades simply for commission, without any consideration for the growth of their client's portfolios. It is prohibited under FINRA Rule 2111 — the rule addresses “quantitative suitability.” Trades are qualitatively unsuitable if the number of trades incurs too many fees for the investment portfolio to generate a return. The investor is seeking $145,000; the dispute is pending. 

Franz Lambert was involved in another dispute filed on August 29, 2019. This dispute alleged breach of fiduciary duty, negligence, negligent supervision, negligent misrepresentation, fraud, churning, unauthorized trading, and Iowa securities law violations. The investor is seeking $781,500.57; the dispute is pending.

On July 21, 2019, an investor alleged that Franz Lambert recommended unsuitable investments and negligently misrepresented investments. That dispute has been settled. 

Franz Lambert Background Information

Franz Lambert has passed the following exams:

  • Series 66 - Uniform Combined State Law Examination
  • Series 63 - Uniform Securities Agent State Law Examination
  • SIE - Securities Industry Essentials Examination
  • Series 7 - General Securities Representative Examination

He has worked with the following firms: 

  • Spartan Capital Securities (CRD#:146251)
  • Worden Capital Management (CRD#:148366)
  • Legend Securities (CRD#:44952)
  • Dawson James Securities (CRD#:130645)
  • Laidlaw & Company (UK) (CRD#:119037)
  • Clark Dodge & Co (CRD#:23288)
  • John Thomas Financial (CRD#:40982)
  • Paulson Investment Company  (CRD#:5670)
  • Jesup & Lamont Securities Corp (CRD#:39056)
  • Vfinance Investments (CRD#:44962)
  • Broad Street Securities (CRD#:36101)
  • Investors Capital Corp. (CRD#:30613)
  • Brookshire Securities Corporation (CRD#:44347)
  • Newbridge Securities Corporation (CRD#:104065)
  • Ladenburg, Thalmann & Co. (CRD#:505)
  • Global Trading Group (CRD#:103927)

Kurta Law Can Help

If you have worked with Franz Lambert and have concerns about your investments, don't hesitate to contact us today at 877-600-0098 or info@kurtalawfirm.com for a free consultation.

For nearly 20 years, Kurta Law has advocated for investors 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.