Seymour Cohen – Investigating the Former Wilmington Capital Securities Broker: What Investors Need to Know
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Haselkorn & Thibaut, a national investment fraud law firm, has opened an investigation into Seymour Cohen, a former financial advisor of Wilmington Capital Securities, LLC, and other firms in Garden City, NY. If you were a client of Mr. Cohen or have concerns about investments made through him, we encourage you to review the following research report. Knowledge and action are the keys to protecting your financial future.
Background on Seymour Cohen
- Name: Seymour Cohen
- Broker-Dealer (Most Recent): Wilmington Capital Securities, LLC (01/2008–06/2021, Garden City, NY)
- Former Employers:
- Clark Dodge & Co., Inc. (02/2007–02/2008)
- S.W. Bach & Company (11/2005–03/2007)
- Regulatory Status: Permanently barred by FINRA
- Location: Garden City, NY
Why Is Seymour Cohen Under Investigation?
The permanent bar by FINRA is a serious regulatory action and typically follows findings of significant violations. This action, in itself, raises a red flag. Currently, Haselkorn & Thibaut is investigating potential claims and seeking information from investors who may have experienced losses or questionable conduct involving Mr. Cohen.
FINRA BrokerCheck: Complaints, Lawsuits, and Investigations
According to FINRA BrokerCheck, Seymour Cohen has accumulated several disclosures that every investor should review closely.
| Date | Type | Description | Status/Outcome |
|---|---|---|---|
| 06/2021 | Regulatory – FINRA | Denied request for information and failed to comply with investigation related to suitability and sales practices. Resulted in a permanent bar from associating with FINRA member firms. | Permanently barred |
| 2019-2021 | Customer Disputes | Multiple clients alleged unsuitable investment recommendations, overconcentration, and unauthorized trades in brokerage accounts. | Settled and/or pending; some claims denied by Mr. Cohen. Specific settlement amounts range up to low six figures. |
| 09/2018 | Customer Complaint | Client alleged misrepresentation and failure to follow investment objectives. | Claim settled; monetary compensation provided to client. |
Summary of Complaints Against Seymour Cohen
- Multiple customer complaints regarding unsuitable investment recommendations.
- Allegations of unauthorized trading and overconcentration in illiquid or speculative securities.
- Regulatory violations resulting in a permanent bar from the financial industry by FINRA in June 2021.
- Settlements reached in certain disputes, with payments to clients.
It is essential to note that not all complaints may result in findings of wrongdoing. However, a pattern of client disputes can indicate persistent issues with sales practices or compliance.
Potential Red Flags for Investors
- Permanently barred by FINRA due to investigation noncooperation.
- History of multiple customer complaints and settlements involving unsuitable investment advice.
- Actions and employment at multiple firms in a relatively short period, which can sometimes reflect underlying issues.
- Disclosure of unauthorized trading and questions about honoring client investment preferences.
What Should You Do If You Worked With Seymour Cohen?
If you have questions about your investments with Seymour Cohen or concerns about possible losses due to unsuitable recommendations, misrepresentation, or unauthorized trading, you are not alone. Every complaint and regulatory action is an opportunity to learn and take steps to recover potential damages.
- Review your statements for unauthorized transactions or investments that don’t match your risk profile.
- Gather all correspondence and documents related to your accounts.
- Contact an experienced investment fraud attorney to review your case.
- Act promptly: Statutes of limitations can affect your ability to recover losses.
About Haselkorn & Thibaut
Haselkorn & Thibaut (investmentfraudlawyers.com) is a national investment fraud law firm with over 50 years of experience representing investors. With a 98% success rate and millions recovered for clients, Haselkorn & Thibaut works exclusively for investors – not brokerage firms. The firm operates on a contingency fee basis: No recovery, no fee.
Concerned About Your Investments With Seymour Cohen or Wilmington Capital Securities?
Each year, too many investors discover too late the risks associated with unsuitable or unauthorized trades. If you suspect losses or feel your investment objectives were not honored, now is the time to act.
Contact Haselkorn & Thibaut at 1-888-994-8066 for a free, confidential consultation. Our experienced team is ready to listen and help you understand your legal rights and options for potential recovery.
Your story matters. Let us help you take control of your financial future.
