Investors Allege Vince Lagatta Misrepresented Investments

Vince Lagatta (CRD #: 3098611), a broker registered with Osaic Wealth, allegedly misrepresented investments. This is according to his BrokerCheck record, accessed on November 15, 2024. Keep reading if you have questions regarding his alleged conduct. 

Investor Allegations

On October 3, 2024, an investor alleged that Vince Lagatta misrepresented that a callable zero coupon market-linked certificate of deposit (CD) would pay 3% per year if not called. Instead, the CD’s term sheet allegedly stated that it had a guaranteed return of principle and that the potential for interest would be calculated at maturity. This dispute was denied by the firm.

On June 5, 2024, an investor alleged that Vince Lagatta purchased a three-year buffered structured note. Once the structure note matured, one of the underlying stocks had allegedly fallen beneath the buffer amount which led to a loss of principal. The investor alleged that Vince Lagatta misled him regarding the terms and provisions of the note. The firm denied the dispute.

However, investors should be aware that firms can deny disputes without an external review. Investors may be able to recover damages following a denial by seeking out FINRA arbitration.

Structured Notes

Structured products are a type of financial product that combines the features of a bond with a derivative component, e.g. swaps, futures, or options. The returns investors receive depend on the performance of this derivative component.

The complexity of structured products makes it vital for investors to understand their features and risks before buying in.

Misrepresentation 

FINRA Rule 2020 forbids the use of deceptive, manipulative, and otherwise fraudulent methods to influence the purchase and sale of securities. The misrepresentation or omission of material facts violates this rule.

Background Information 

Vince Lagatta 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 is a registered broker in ten states and is a registered investment adviser in Arizona. 

Vince Lagatta has been registered with the following firms: 

•     PNC Investments (CRD #: 129052) 
•     PNC Managed Account Solutions (CRD #: 110476) 
•     BBVA Securities (CRD #: 27060) 
•     U.S. Bancorp Investments (CRD #: 17868) 
•     Bancwest Investment Services (CRD #: 29357) 
•     CitiCorp Investment Services (CRD #: 23988) 
•     Linsco/Private Ledger Corp (CRD #: 6413) 
•     Bisys Brokerage Services (CRD #: 23302) 

Kurta Law Can Help 

If you have worked with Vince Lagatta 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.