Stoltmann Law Offices is investigating Newport Coast Securities and five of its registered representatives (Douglas Leone, Andre LaBarbera, David Levy, Antonio Costanzo and Donald Bartelt) for allegedly excessively trading and churning in 24 customer accounts. The registered representatives almost always made $1,000 per trade and the customer’s exhibited massive losses. The firm’s managers also profited from the excessive trading and churning. The representatives also allegedly made unsuitable recommendations to customers. Excessive trading and churning are violations of securities laws and Newport Coast can be held liable for financial losses because they did not supervise their representatives properly. If you lost money with Newport Coast Securities, please call our law offices at 312-332-4200 to speak with an attorney. The call is free with no obligation. We sue firms such as Newport Coast Securities in the Financial Industry Regulatory Authority (FINRA) arbitration forum to recover money for retail investors. We take cases on a contingency fee basis only.
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