Haselkorn & Thibaut Opens Investigation into Shaun Joseph Grimaldi, Garden State Securities, Inc. – Red Bank, NJ
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Haselkorn & Thibaut, a national investor advocacy law firm, has launched an investigation into allegations surrounding Shaun Joseph Grimaldi, a financial advisor currently registered with Garden State Securities, Inc. in Red Bank, NJ. With over 50 years of combined experience, a 98% success rate, and millions recovered, Haselkorn & Thibaut (investmentfraudlawyers.com) is dedicated to helping clients pursue recovery for investment losses—offering a no recovery, no fee promise.
If you’ve worked with Shaun Joseph Grimaldi or have concerns about your investments, call Haselkorn & Thibaut now at 1-888-994-8066 for a free, confidential consultation.
Who Is Shaun Joseph Grimaldi?
Shaun Joseph Grimaldi (CRD #4529021) is a registered stockbroker and investment professional. His most recent employment is with Garden State Securities, Inc. (CRD# 10083), located at 328 Newman Springs Road, Red Bank, NJ. Grimaldi’s professional history includes registration with multiple firms:
- Garden State Securities, Inc. (08/2024–present, Red Bank, NJ)
- J.H. Darbie & Co., Inc. (05/2024–08/2024, New York, NY)
- E1 Asset Management, Inc. (04/2003–05/2024, Jersey City, NJ)
- PHD Capital (06/2002–05/2003, New York, NY)
He holds licenses in CA, CT, FL, NJ (restricted approval), NY, and PA and is a registered FINRA General Securities Representative and Principal. Grimaldi also reports an affiliation with JustRite Equipment.
Key Red Flags and Disclosures
Investors should be aware of multiple red flags and prior customer disputes found through regulatory databases, including the official FINRA BrokerCheck system.
Summary Table: Complaints and Regulatory History
| Type | Filing Date | Forum / Regulator | Case/Doc # | Allegation / Cause | Status / Disposition |
|---|---|---|---|---|---|
| Customer Arbitration | 04/2024 | FINRA | 23-00643 | Securities fraud; common-law fraud; negligence; breach of contract and fiduciary duty; failure to supervise; unsuitability; unjust enrichment | Awarded to claimant: ~$1.6M in compensatory damages, $577k interest, $420k attorneys’ fees, discovery sanction |
| Customer Arbitration (Settlement) | 2014 | FINRA | 14-02830 | Breach of contract; unsuitability; misrepresentation; negligence; negligent supervision; fraud | Settled for $21,000 |
| Customer Complaint (Settlement) | 2015 | FINRA | – | Misrepresentation and unsuitable recommendations (2006–2008) | Settled for $7,500 |
| Bankruptcy Filing | 05/2024 | Federal Court | – | Personal bankruptcy filing – Chapter 7 | Filed |
Detailed Complaint and Arbitration History
- Major FINRA Arbitration Award (Case No. 23-00643): In April 2024, a panel awarded more than $1.6 million in compensatory damages against Grimaldi (and E1 Asset Management, Ron Yehuda as co-respondents). Additional amounts included $577,610 in accrued interest, $420,000 in attorneys’ fees, and a discovery sanction—making this one of the largest known awards involving this advisor.
- Multiple Settlements: Grimaldi was subject to at least two additional investor complaints while registered with E1 Asset Management. One involved a settlement of $21,000 (2014; FINRA case 14-02830) and another resulted in a $7,500 payment to an investor in 2015, relating to alleged unsuitable recommendations and misrepresentation during the 2006–2008 period.
- Personal Bankruptcy: Grimaldi filed for Chapter 7 bankruptcy protection in May 2024. Although a personal bankruptcy does not confirm professional wrongdoing, it is viewed as a potential indicator of financial distress.
Types of Allegations Faced
Shaun Joseph Grimaldi has been accused of several types of alleged misconduct, including but not limited to:
- Unsuitable investment advice
- Breach of fiduciary duty and failure to act in the customer’s best interest
- Fraud, misrepresentation, and omission of material facts
- Negligence
- Breach of contract and failure to supervise
Such allegations are taken seriously in the financial services industry and signal important due-diligence considerations for clients and potential investors.
Why These Disclosures Matter to Investors
If you or a loved one worked with Shaun Joseph Grimaldi or currently have accounts at Garden State Securities, Inc., these disclosures could signal improper account management or potential losses. It is important to review your accounts for unauthorized transactions, excessive risk, or unsuitable investment recommendations.
Historically, regulatory bodies like FINRA can pursue disciplinary action or investors may seek compensation through arbitration/arbitration settlements in the event of misconduct. Even the appearance of multiple settlements or large awards is a red flag for any customer considering employment of this advisor.
How to Protect Your Financial Interests
If you observe any of these signs in your account or have unanswered questions about trading activity, you are not alone. Independent legal counsel can help decode your account statements, review the history of your investments, and explain your options for potential recovery.
Haselkorn & Thibaut’s experienced investor attorneys handle cases nationwide on a contingency basis—meaning, there are no legal fees unless you recover money.
Next Steps: Get a Free, Confidential Case Review
- Request a comprehensive review of your account history with Shaun Joseph Grimaldi or Garden State Securities.
- Learn about your rights and next steps toward possible recovery through FINRA arbitration or mediation.
- Contact Haselkorn & Thibaut at 1-888-994-8066 for a compassionate, judgment-free discussion about your situation.
Our experienced team at Haselkorn & Thibaut understands the importance of trust in your financial advisor. If you have doubts about your investment journey with Shaun Grimaldi or Garden State Securities, we encourage you to take action. Every consultation is free, confidential, and handled with care from start to finish.
Summary Information: Shaun Joseph Grimaldi and Garden State Securities, Inc.
| Advisor Name | Advisor’s CRD | Broker-Dealer (CRD#) |
|---|---|---|
| Shaun Joseph Grimaldi | 4529021 | Garden State Securities, Inc. (10083) |
Ready to discuss your concerns?
Call Haselkorn & Thibaut today at 1-888-994-8066 for a complimentary consultation about your experience with Shaun Joseph Grimaldi or Garden State Securities, Inc. There is never a cost unless we help you recover funds. Your financial recovery is our top priority.
