Super Lawyers
Million Dollar Advocates Forum
BBB Accredited Business

John Carbaugh: Broker Complaints

iStock_000006693339MediumThe securities and investment fraud law firm Fitapelli Kurta is interested in hearing from investors who have complaints regarding Pennsylvania-based broker/adviser John Carbaugh (CRD# 2576618).

John Carbaugh has spent twenty years in the securities industry and has been registered with Morgan Stanley in York and Carlisle, Pennsylvania since 2009. Previous registrations include Citigroup Global Markets in Carlisle, Pennsylvania (2008-2009); Raymond James financial Services in Carlisle (2005-2008); Cambridge Investment Research in Fairfield, Iowa (2001-2005); Tucker Anthony Incorporated in Boston, Massachusetts (2000-2001); Fahnestock & Company in New York, New York (1995-2000); and L.C. Wegard & Company in New York (1995).

According to his BrokerCheck report, John Carbaugh is the subject of two customer complaints.

In 2013 a customer alleged John Carbaugh, while employed at Citigroup Global Markets and Morgan Stanley, misrepresented and recommended unsuitable investments in equity listed stocks and mutual funds. The complaint settled in 2014 for $50,000.

In 2005 a customer alleged John Carbaugh, while employed at Cambridge Investment Research, made unauthorized trades, breached contract, churned the customer’s account, acted negligently, and recommended unsuitable investments from July 2002 to January 2003. The complaint settled for $25,000.

FINRA rules and federal securities law stipulate that brokers like John Carbaugh have an explicit duty to recommend only investments that are suitable for their customers. Brokers must consider such factors as age, net worth, risk tolerance, income, and investment experience. They may not omit or misrepresent material facts connected to the product in a manner that might lead clients to make unsuitable investments. Brokerage firms have a supervisory duty to ensure that their brokers comply with these regulations. Brokers and firms who engage in misrepresentation and/or unsuitability may be subject to disciplinary action.

If you have lost money investing with John Carbaugh, Morgan Stanley, Cambridge Investment Research, or Citigroup Global Markets, you may be entitled to recover your losses. Call the securities and investment fraud law firm Fitapelli Kurta at 877-238-4175 for a free consultation. All cases are taken on a contingency basis: Fitapelli Kurta only gets paid if and when you recover money.  Time to file your claim may be limited, so we encourage you to avoid delay. Call 877-238-4175 now to speak to an attorney for free.

Contact Information