Matthew Strajack Allegedly Misrepresented Business Development Company
Matthew Strajack (CRD #: 2478705), a broker registered with LPL Financial, allegedly misrepresented an unsuitable investment, according to his BrokerCheck record, accessed on August 21, 2022. Read on if you have questions about his conduct as a broker.
Investor Dispute
In a dispute filed on May 4, 2022, an investor alleged that Matthew Strajack misrepresented a business development company (BDC) investment they purchased on April 9, 2014, and that this investment was unsuitable. This dispute was denied by the firm.
However, investors should know that firms can deny disputes without an outside review, and they may still be able to recoup their losses after a denial by pursuing FINRA arbitration.
What is a Business Development Company?
A business development company (BDC) loans money to small- to -mid-sized privately owned companies that are typically in distress. While BDCs can yield high returns, they also tend to be high risk by lending to distressed companies that may default on their loans.
FINRA Rule 2020
The misrepresentation of investments violates FINRA Rule 2020, which forbids the use of manipulative, deceptive, and otherwise unethical tactics to influence investors’ decisions.
FINRA Rule 2111
FINRA Rule 2111 requires brokers to tailor their investment recommendations to investors’ profiles. These profiles describe an investor’s financial goals, age, risk tolerance, and other relevant information.
Investors who rely on their broker for recommendations may be able to recover their losses through FINRA arbitration.
Background Information
Matthew Strajack 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
- Series 52 – Municipal Securities Representative Examination
- Series 24 – General Securities Principal Examination
Matthew Strajack is a registered broker in 19 states and a registered investment adviser in Iowa and Texas.
He previously worked for Morgan Stanley DW (CRD#:7556) and Olde Discount Corporation (CRD#:5979).
Kurta Law Can Help
If you worked with Matthew Strajack 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.