Mitchell Pindus is the Subject of a Six-Figure Dispute

Mitchell Pindus (CRD #: 1268550), a broker registered with Wells Fargo Clearing Services, is the subject of an investor dispute. This is according to his BrokerCheck record, accessed on June 14, 2024. Details concerning this dispute are provided below. 

Investor Allegations 

On April 30, 2024, an investor alleged that Mitchell Pindus concentrated speculative investment recommendations without adequately disclosing the associated risks. The investor is seeking $200,000. 

Unsuitable Investments 

FINRA Rule 2111 requires brokers to evaluate whether an investment fits their investor’s financial goals.

Some common violations of this rule include:

• Recommendations of unsuitable investment strategies. For instance, overconcentration of securities in a certain stock or sector is typically unsuitable due to the degree of risk.
• Recommendations of high-risk or illiquid investments. These investments may lead to high fees for the investor.

Investors who rely on brokers for recommendations may be able to recover their losses by pursuing FINRA arbitration.

Background Information 

Mitchell Pindus 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 3 National Commodity Futures Examination 
• Series 7 General Securities Representative Examination

He is a registered broker in eleven states and is a registered investment adviser in California and Texas. 

During his 40 years in the securities industry, Mitchell Pindus has registered with seven firms: 

• Wells Fargo Clearing Services (CRD #: 19616) 
• RBC Capital Markets Corporation (CRD #: 31194) 
• Oppenheimer Asset Management (CRD #: 105559) 
• Oppenheimer & Co. (CRD #: 249) 
• CIBC World Markets Corp. (CRD #: 630) 
• Bear, Stearns & Co. (CRD #: 79) 
• Merrill Lynch, Pierce, Fenner & Smith (CRD #: 7691) 

Kurta Law Can Help 

If you have worked with Mitchell Pindus and have concerns about your investments, do not hesitate to contact us at 877-600-0098 or email 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 that 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. Do not let securities fraud go unchecked. Start your recovery process today.