THOMAS FRANCIS ONEILL is currently employed as a Broker and/or Investment Adviser at FIRST EMPIRE SECURITIES, INC. located at 100 MOTOR PARKWAY, HAUPPAUGE, NY, 11788.
THOMAS FRANCIS ONEILL has worked at FIRST EMPIRE SECURITIES, INC. since November 06, 2017
Date: February 16, 1990 Category: Customer Dispute Allegations: WE WERE SERVED WITH A SUMMONS AND COMPLAINTIN AN ACTION BROUGHT BY THE U.S. DISTRICT COURT FOR THE WESTERNDIST. OF PENNSYLVANIA BY THIS CLIENT. THE COMPLAINT ALLEGEDTHAT THE DEFENDANTS FAILED TO DISCLOSE RISKS APPROPRIATELY &RECOMMENDED THE SECURITIES PURCHASED EVEN THOUGH THEY KNEW ORSHOULD HAVE KNOWN THAT THE SECURITIES WERE INAPPROPRIATE FORTHE CUSTOMER. AMOUNT OF A ACTUAL DAMAGES OF $1,700,000. Damage Amount Requested: $1,700,000.00 Settlement Amount: $210,000.00 Broker Comment: WE HAVE SETTLED THIS LAWSUIT FOR $210,000.00ALTHOUGH WE BELIEVE WE DID NOTHING WRONG WESETTLED THIS MATTER TO AVOID THE EXPENSE AND RISK OF A JURYTRIAL ON A MORTGAGE BACKED SECURITY ISSUE. THIS MATTER DID NOTINVOLVE OPTIONS.
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