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Edward Rudiger, NY Broker, Involved in Two Disputes Totaling $500,000 Over Excessive Trading and Other Alleged Violations

Edward Rudiger (CRD#: 2118724), a registered representative with Reid & Rudiger LLC in New York, New York, is currently involved in two customer disputes in which customers are seeking over $500,000 in combined damages, according to his BrokerCheck record accessed on December 19, 2019. What allegedly happened to lead to these customer complaints against Edward Rudiger?Edward Rudinger

On October 16, 2019, Edward Rudiger became involved in a customer dispute in which a client “alleged sales practice violations including false and misleading statements, excessive trading, breach of fiduciary duty and failure to supervise.” The client is seeking $220,54 in damages and the dispute is pending. This follows an earlier complaint filed on June 11, 2019, in which a customer alleges that Edward Rudiger engaged in excessive trading and misrepresented investments. That customer is seeking
$279,577 in damages and the matter is pending.

These recent complaints against Edward Rudiger are far from the only disclosures on Edward Rudiger’s BrokerCheck. On July 9, 2012, a “note holder alleged claims based on issuer’s default in paying [a] promissory note acquired n 2007.” The customer sought $886,473 in damages, and the matter was settled for $700,000. Similarly, on December 21, 2009, “note holders alleged claims based on issuer’s default in paying promissory notes acquired in 2004, 2006 and 2007.” The matter was ultimately settled for
$294,293.

In addition to his current position at Reid & Rudiger, LLC, Edward Rudiger has also worked for two other firms over his 25-year career in the securities industry. The two other firms are:

  • Nichols, Safina, Lerner & Co. Inc. (CRD#: 35476) in New York, New York – SEC registration status cancelled on June 20, 2001
  • Gruntal & Co. Incorporated (CRD#: 372) in New York, New York – SEC registration status terminated on July 21, 2002

Although, according to his website, Edward Rudiger purports to “[work] closely with many of the firm’s clients in selecting equity and debt investments that meet their investment objectives,” the above customers have concerns about Edward Rudiger’s conduct.

If Edward Rudiger was your broker and you have concerns about promissory notes he recommended to you, don’t hesitate to contact a securities attorney. Call (877) 238-4175 or email info@fkesq.com for your free consultation with the securities attorneys of Fitapelli Kurta.

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