Alex Gierbolini is a Puerto Rico based securities broker. He has worked in the securities industry for twenty-one years. During his career, he has been registered with four different securities firms.
His registrations include; Dean Witter Reynolds (1997-1998), Popular Securities (1997-2000), UBS Financial Services (2000-2012), and Merrill Lynch (2012-Present).
Alex Gierbolini’s publicly available FINRA BrokerCheck report shows that he has received numerous customer complaints over the course of his career. Most of which are centered around the sale of Puerto Rico municipal bonds or closed-end funds.
In December 2008, a customer alleged that he did not authorize purchases made by Gierbolini on his behalf. This case was settled for $67,145 in damages.
In June 2014, customers alleged unsuitability and failure to disclose risks in connection with the purchase of Puerto Rico bonds and closed-end funds. This case was settled for $300,000 in damages.
In August 2014, a customer alleged unsuitable investment recommendations and misrepresentation/omission of material facts. The alleged transgressions taking place between 2007 and 2014. This case was settled for $200,000 in damages.
In August 2015, more customers alleged unsuitable investment recommendations and misrepresentation involving closed-end funds. The alleged transgressions taking place between 2010 and 2015. This case was settled for $1.08 million in damages.
In August 2018, yet another customer alleged unsuitable investment recommendations and misrepresentation concerning Puerto Rico bonds and closed-end funds. This case is currently pending. The customer is seeking $380,000 in damages.
The above-mentioned cases are just a handful of the settled and pending complaints that Alex Gierbolini received regarding his alleged misconduct concerning Puerto Rico municipal bonds and closed-end funds.
Oakes & Fosher dedicates its entire legal practice to helping investors across the nation. If you, or someone you know, have lost money investing with Alex Gierbolini, please contact Oakes & Fosher for a free and private consultation.