
Eric Gibbs
Eric has served in leadership positions in a number of high profile, complex financial lawsuits. He has been recognized as a Daily Journal, among the Top 100 Super Lawyers in Northern California, and a Law360 MVP for Consumer Protection.
National Securities Corporation was named in a 2017 Reuters report that identified 48 brokerage firms in which at least 30% of the firm’s brokers have flags on their records according to FINRA reports. According to the report, National Securities Corporation’s disclosures include:
If you suspect misconduct by your National Securities team or broker, talk to an attorney to learn about your rights and legal options, free.
In August 2018, Reuters published a report noting that in late 2016 Fortress Biotech acquired a controlling stake in National Securities’ parent company, National Holdings, and has since used the brokerage firm to raise money for some of Fortress’s high-risk bio-tech companies. The article notes that this conduct creates a potential conflict of interest with National Securities brokerage clients.
According to the article, some of the Fortress companies promoted by National Securities brokers include:
Other Fortress companies include:
If you invested in any of these companies based on the recommendation of your National Securities Broker, you may have a legal claim.
FINRA, the regulatory agency that oversees broker-dealers, has recently barred several brokers who had been working at National Securities Corporation in the past few years. Some National Securities brokers who were recently barred, or have had other disclosures in their FINRA Broker Check reports, include:
According to the Reuters report, based on 136 pages of disclosures, a sampling of the allegations against National Securities Corporation includes:
According to FINRA’s BrokerCheck reports, a sampling of stock broker complaints against specific National Securities Corporation brokers includes the following allegations:
Disputes with brokerage firms are unfortunately not uncommon. Unethical stock brokers often prey on unsuspecting investors, and a broker scam can be difficult to identify until it is too late and excessive losses have occurred.
Investment fraud complaints can be widespread and relate to a variety of types of broker misconduct. Some of the most common complaints against a brokerage firm or stock broker include:
Investors who have been misled otherwise wronged by their broker or brokerage firm may seek recourse through FINRA arbitration, a forum for resolving disputes between investors and financial institutions or professionals.
FINRA recommends that investors get legal representation to offer direction and advice, as banks and brokers will likely be represented by an attorney as well. Securities arbitration lawyers play an important role in ensuring investors are given a fair chance in FINRA arbitration proceedings.
Girard Gibbs’ financial fraud and securities lawyers have more than two decades of experience prosecuting fraud. Our attorneys have successfully litigated against some of the largest companies in the United States, and we have recovered more than a billion dollars on our clients’ behalf.
We have fought some of the most complex cases brought under federal and state laws nationwide, and our attorneys have been recognized with numerous awards and honors for their accomplishments, including Top 100 Super Lawyers in Northern California, Top Plaintiff Lawyers in California, The Best Lawyers in America, and rated AV Preeminent (among the highest class of attorneys for professional ethics and legal skills).
![]() |
![]() |
|
American Express Financial Advisors Securities Litigation | $100 million cash settlement for clients alleging American Express steered them into under-performing “shelf space funds” to reap kickbacks |
Chase Bank “Check Loan” Litigation | $100 million settlement for consumers alleging Chase offered long-term fixed-rate loans, only to later more-than-double required payments |
Peregrine Financial Group Customer Litigation | Settlements worth $75 million for futures and commodities investors who lost millions in the collapse of Peregrine Financial Group, Inc. |
NantHealth | Court-appointed Co-Lead Counsel in a securities class action alleging the company’s founder violated federal securities law and artificially inflated stock prices |
Eric has served in leadership positions in a number of high profile, complex financial lawsuits. He has been recognized as a Daily Journal, among the Top 100 Super Lawyers in Northern California, and a Law360 MVP for Consumer Protection.
David’s advocacy has generated major recoveries for consumers impacted by financial fraud. He was named to the Top 40 Under 40 by Daily Journal and a “Rising Star in Class Actions” by Law360.
Michael has over 20 years of experience representing individuals in complex cases involving banking credit card and other financial frauds.
Share this on: