Advisor Alert: Our Attorneys Are Investigating Michael Jerome Levine For Investment Fraud
Did You Lose Money Because of Mike Levine?
Filed: February 9, 2024
Michael Levine (also known as Mike Levine) has been the subject of one (1) regulatory event and four (4) customer complaints. As an investor, you may be entitled to compensation for losses accrued due to mismanagement of your investments.
Let’s begin our Patil Law Advisor Alert with a summary report on Michael Jerome Levine.
Who Is Michael Jerome Levine of Wells Fargo Clearing Services, LLC?
- Advisor Name: Michael Jerome Levine
- Aliases: Mike Levine
- CRD: 1785045
- Location: Short Hills, New Jersey
- Current Employer: Wells Fargo Clearing Services, LLC
- Previous Firms: A.G. Edwards & Sons, Inc. and Salomon Smith Barney Inc.
- Number of Known Customer Complaints: 4
- Number of Known Regulatory Events: 1
- Can Michael Levine Be Sued: Yes, in Private Arbitration
- Can Michael Levine’s Employers Be Sued For Failing to Supervise Actions: Yes, in Private Arbitration
- Highest Damages Allegation: $80,412.16
- Highest Settlement: $40,257.16
If you have suffered investment losses by Michael Levine, we strongly encourage you to exercise your rights to experienced legal representation. Recover what is owed to you by retaining a stockbroker fraud lawyer. Reach out to the legal team at Patil Law, P.C. via the secure online form or call the firm directly toll-free at 1-800-950-6553.
Customer Complaints Filed Against Mike Levine For Broker Misconduct
As of this publication date, Michael Levine has been the subject of 1 regulatory event and 4 customer disputes. Let’s review them below.
In August 2022, a FINRA arbitration was filed against or in reference to Michael Levine by a customer of Wells Fargo Clearing Services, LLC alleging that in or about 2014, Mr. Levine made unsuitable purchases in technology stocks.
In October 2013, FINRA initiated a regulatory action against or in reference to Michael Levine for exercising discretion and effecting trades in the account of his member firm customer without written authorization from the customer to exercise discretion and written acceptance of the account as discretionary from the firm.
In October 2011, a complaint was filed against or in reference to Michael Levine by a customer of Wells Fargo Advisors, LLC alleging that recent trades were never discussed with the client before each transaction was made and that the client did not authorize the buying and selling in her account. The damages were not specified but believed to exceed $5,000. On November 17, 2011, Mr. Levine settled the claim for $5,890, and some or all of this amount may have been paid by Mr. Levine’s employer and/or insurance carrier.
In November 2000, a complaint was filed against or in reference to Michael Levine by a customer of Salomon Smith Barney alleging the investments made in the client’s account were unsuitable and misrepresented. Per the customer, he/she lost over $80,412.16 because of Mr. Levine’s actions. On December 4, 2000, Mr. Levine settled the claim for $40,257.16, and some or all of this amount may have been paid by Mr. Levine’s employer and/or insurance carrier.
In October 2000, a NASD arbitration was filed against or in reference to Michael Levine by multiple customers of Salomon Smith Barney alleging unauthorized transactions, negligence, breach of fiduciary duty, and breach of contract. Per the customers, they lost over $40,000 because of Mr. Levine’s actions. On April 5, 2004, Mr. Levine settled the claim for $9,999, and some or all of this amount may have been paid by Mr. Levine’s employer and/or insurance carrier.
How To File A Claim Against Mike Levine of Wells Fargo Clearing Services, LLC (previously with A.G. Edwards & Sons, Inc. and Salomon Smith Barney Inc.) To Get Your Money Back
If you have questions about Michael Levine, Wells Fargo Clearing Services, LLC, A.G. Edwards & Sons, Inc., Salomon Smith Barney Inc., or the management or performance of your accounts, please contact Attorney Patil for a free initial consultation via email or toll-free at 1-800-950-6553.