GARY MICHAEL PETRUCCI is currently employed as a Broker and/or Investment Adviser at RBC CAPITAL MARKETS, LLC located at 60 SOUTH SIXTH STREET, MINNEAPOLIS, MN, 55402-4422.
GARY MICHAEL PETRUCCI has worked at RBC CAPITAL MARKETS, LLC since January 09, 2009
Disclosure History
GARY MICHAEL PETRUCCI has 5 Disclosure Event(s).
Date: December 06, 2013 Category: Customer Dispute Allegations: CLIENT COMPLAINS THAT SHE SHOULD HAVE BEEN MORE DIVERSIFIED AND THAT SHE WAS NOT INFORMED THAT SENIOR BONDS WERE DILUTED TO JUNIOR BONDS. Damage Amount Requested: $50,423.90
Date: September 12, 2001 Category: Customer Dispute Allegations: CLIENT ALLEGES UNSUITABILITY OF AGTHX AND JOPBX PURCHASED 10/6/99. SEEKS RETURN OF PRINCIPAL INVESTMENT PLUS INTEREST OR APPROXIMATELY $22,000. Damage Amount Requested: $22,000.00 Broker Comment: THIS CUSTOMER COMPLAINT IS NO LONGER REPORTABLE. SHE ADMITS SHE KNEW SHE HAD EQUITY FUNDS. SHE MOVED HER ACCOUNT IN FEB 01 WHILE SHE STILL HAD A PROFIT IN THE FUNDS AND ONLY SIX MONTHS LATER DECIDES TO MAKE THESE ACCUSATIONS THE DAY AFTER THE WTC DISASTER.
Date: January 27, 1995 Category: Customer Dispute Allegations: CLAIMANTS INVESTED $440,775 IN THE AMERICANSTRATEGIC INCOME PORTFOLIO III (CSP) IN MARCH OF 1993 ANDANOTHER $315,648 THROUGHT OCTOBER OF 1993. THEY CLAIM THAT THEDEGREE OF RISK AND THE PERCENTAGE OF HIGH-RISK SECURITIESCONTAINED IN CSP WERE MISEPRESENTED TO THEM BY PETRUCCI ANDPJI. THEY SEEK THE RETURN OF COMMISSIONS EARNED BY PETRUCCI ONTHE PURCHASE AND SALE OF CSP TO THEM IN THE AMOUNT OF$31,400.30. Damage Amount Requested: $31,499.30 Settlement Amount: $25,000.00 Broker Comment: PIPER JAFFRAY PAID CLAIMANTS [CUSTOMER] AND [CUSTOMER] ATOTAL OF $25,000 FOR A RELEASE OF ALL CLAIMS. MR. PETRUCCI WASNOT ASKED TO CONTRIBUTE TOWARD THE SETTLEMENT.MR. PETRUCCI MERELY SUPPLIED PRODUCT INFORMATIONTO THE CLIENTS THAT WAS PROVIDED TO HIM BY PIPER JAFFRAY. THECUSTOMERS CLAIMED THE INFORMATION PROVIDED WAS INADEQUATE. MR.PETRUCCI BELIEVES THE PRODUCT WAS SOLD APPROPRIATELY.
Date: March 02, 1990 Category: Customer Dispute Allegations: PLAINTIFF ALLEGED PIPER, JAFFRAY & HOPWOODINCORPORATED PETRUCCI AND OTHERS VIOLATED FEDERAL AND STATESECURITIES LAWS AND COMMON LAW IN CONNECTION WITH PLAINTIFF'SMARCH 1984 PURCHASE OF VERTIMAG COMMON STOCK. THE DISTRICTCOURT SUBSEQUENTLY DISMISSED PLAINTIFF'S CLAIMS, COMPELLINGTHOSE CLAIMS TO ARBITRATION. (AAA ARBITRATION NO. 56 136 009590) Damage Amount Requested: $100,000.00 Damages Granted: $365,357.50 Broker Comment: THE ARBITRATORS AWARED [CUSTOMER] $365,357.50.PJH APPEALED TO THE U.S. DISRICT COURT, THE COURT UPHELD THEAAA AWARD.CLAIMANT COMMENCED AN ARBITRATION PROCEEDING ONMARCH 2, 1990. THE STATEMENT OF CLAIM ALLEGED VIOLATION OFFEDERAL AND STATE SECURITIES LAWS AND COMMON LAW IN CONNECTIONWITH CLAIMANT'S MARCH 1984 PURCHASE OF VERTIMAG COMMON STOCK.CLAIMANT SOUGHT ACTUAL DAMAGES OF APPROXIMATELY $100,000,UNSPECIFIED PUNITIVE DAMAGES AND ATTORNEY'S FEES. BASED UPONTHE EVIDENCE PRESENTED AT THE ARBITRATION, PIPER, JAFFRAY'SANALYSIS OF THE ARBITRATOR'S AWARD, AND THE LACK OF ANYSPECIFIC FINDINGS OF WRONGDING BY PETRUCCI, PIPER, JAFFRAYCONCLUDED THAT PETRUCCI SHOULD NOT CONTRIBUTE.
Date: October 04, 1988 Category: Customer Dispute Allegations: POOR RECOMMENDATIONS Damage Amount Requested: $100,000.00 Settlement Amount: $26,129.97 Broker Comment: THE CLIENT'S ACCOUNT WAS ADJUSTED FOR $26,129.97. PETRUCCI IS CHARGED FIFTY PERCENT. THE SETTLEMENT WAS DECIDED WITHOUT ADMITTING ANY INFRACTIONS IN ORDER TO AVOID MORE COSTLY LITIGATION EXPENSE. THE FIRMS OUTSIDE COUNSEL FELT THE CASE HAD NO MERIT; HOWEVER LEGAL FEES PROBABLY WOULD HAVE EXCEEDED SETTLEMENT COSTS.
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