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Investors' Rights with Robert Pearce

Welcome to Investors' Rights with Robert Pearce, your premier online resource for broker complaints and reviews, customer dispute details, and timely updates on potential stockbroker and investment advisor misconduct.

Created and published by Attorney Robert Wayne Pearce—one of the most experienced investment fraud, securities defense, and FINRA arbitration lawyers nationwide—this website is dedicated to safeguarding the rights of investors. We bring you decades of hands-on legal experience and a track record of recovering over $175 million for clients in investment loss cases.

With over 45 Years of Personal Experience

$21,000,000 Final Judgment for Civil Theft
$7,800,000 Stockbroker Option Fraud Settlement
$6,000,000 Stockbroker Bond & Bond Fund Fraud Settlement

Who This Site Is For

  • Individual Investors: Seeking to understand possible broker or advisor wrongdoing.
  • Retirees: Concerned about the management of retirement funds and looking to prevent or recover losses.
  • Institutions & Organizations: Conducting due diligence on broker backgrounds, compliance, and past complaints.
  • Legal & Regulatory Community: Journalists, regulators, and industry professionals tracking emerging trends and notable disputes in securities litigation.

Why Choose Investors' Rights with Robert Pearce

  • Decades of Legal Advocacy: Attorney Pearce’s over 45 years in securities and commodities law translates into unmatched insight and fierce representation.
  • Proven Results: Our team has earned a national reputation by recovering more than $175 million for clients, including multimillion-dollar awards and settlements.
  • Comprehensive Coverage: We report on critical broker allegations, terminations, and investor lawsuits, giving you the most current information to protect your financial interests.
  • Broad Industry Reach: Our attorneys have handled hundreds of FINRA, AAA, and JAMS arbitrations and mediations, spanning nationwide and international jurisdictions.


If you have any questions about potential investment losses or suspect broker misconduct, you’re invited to contact us at (561) 338-0037 for a free, confidential evaluation. We look forward to hearing your story and working together to preserve your rights as an investor.

Let’s Get Started

Investigations

Jun 6, 2025

Mark Katz of Aegis Capital Corp. Reviews

DID MARK KATZ CAUSE YOU INVESTMENT LOSSES? About Mark Katz of Aegis Capital Corp Mark Katz (CRD #3055019) is a Rancho Santa Fe, California–based broker newly registered with Aegis Capital Corp. since April 28 2025. He entered the securities industry in 1998 and previously worked at Western International Securities (2019-2025), Hilltop Securities (2008-2019), M.L. Stern & Co., and other firms. Mark Katz Customer Complaints and Reviews There are four customer disputes on Katz’s BrokerCheck record—two settled, two denied. Below is a representative settled case: • Customer Dispute• Date Filed: February 20 2024• Details: Client alleged that Katz executed unauthorized and inappropriate municipal-bond transactions in 2023 while at Western International Securities, causing account losses.• Product: Debt – Municipal Bonds• Alleged Damages: $358,162.96• Status: Settled March 22 2024 – $172,373.30 paid to the customer; Katz reports no personal contribution. Allegations Against Mark Katz Pending and settled matters have accused Katz of: Mark Katz Red Flags & Your Rights as an Investor Multiple six-figure settlements and additional denied complaints are notable red-flag indicators. FINRA-registered brokers must obtain client authorization, recommend only suitable investments, and provide full risk disclosure. If you experienced losses from municipal bonds, MLPs, or other products recommended by Katz, you may pursue compensation through FINRA arbitration—generally faster and less costly than court. Did You Lose Money Because of Broker Misconduct? If you have lost money due to negligence or fraud by a stockbroker or advisor, the easiest way to know if you have a case is to call our office at 800-732-2889. Our investment fraud attorneys will evaluate your claim for free and let you know if we can help you recover your losses. Need Legal Help? Let’s talk. or, give us a ring at 561-338-0037. File a Claim to Recover Your Investment Losses at Aegis Capital Due to Mark Katz If you have concerns about to Mark Katz’s recommendations or the management of your accounts, contact Attorney Pearce for a free initial consultation via email or Toll-Free 1-800-732-2889. Act promptly—strict time limits apply to securities-arbitration claims

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Jun 6, 2025

Anthony J. DiValerio Jr. of Morgan Stanley Reviews

DID ANTHONY J. DIVALERIO JR. CAUSE YOU INVESTMENT LOSSES? About Anthony J. DiValerio Jr. of Morgan Stanley Anthony J. DiValerio Jr. (CRD #1769652) is a West Conshohocken, Pennsylvania–based financial advisor. He has been registered as a General Securities Representative with Morgan Stanley since June 1 2009, and as an Investment Adviser Representative since February 2 2011. DiValerio entered the securities industry in 1987, formerly working at UBS Financial Services, Donaldson Lufkin & Jenrette, Bear Stearns, and PaineWebber. Anthony J. DiValerio Jr. Customer Complaints and Reviews There is one pending customer dispute disclosed on his BrokerCheck report. • Customer Dispute• Date Filed: July 17 2024 (FINRA Arbitration #24-00028)• Details: The claimant alleges that DiValerio provided incorrect advice regarding the sale of Vertex Pharmaceuticals stock pursuant to SEC Rule 144, resulting in substantial losses.• Product: Equity – Listed Common Stock (Rule 144 sale)• Alleged Damages: $35,000,000• Status: Complaint is pending in FINRA arbitration. Allegations Against Anthony J. DiValerio Jr. The pending arbitration contends that DiValerio: Anthony J. DiValerio Jr. Red Flags & Your Rights as an Investor A $35 million pending claim is a serious red-flag indicator. FINRA-registered professionals must provide accurate advice, recommend only suitable strategies, and fully disclose all risks. Current or former clients who relied on DiValerio’s guidance for restricted-stock sales—or any other complex transactions—should review their account records and trade confirmations for potential misconduct. Investors may pursue compensation through FINRA arbitration, a forum typically faster and less costly than court. Did You Lose Money Because of Broker Misconduct? If you have lost money due to negligence or fraud by a stockbroker or advisor, the easiest way to know if you have a case is to call our office at 800-732-2889. Our investment fraud attorneys will evaluate your claim for free and let you know if we can help you recover your losses. Need Legal Help? Let’s talk. or, give us a ring at 561-338-0037. File a Claim to Recover Your Investment Losses at Morgan Stanley Due to Anthony J. DiValerio Jr. If you have concerns about to Anthony J. DiValerio Jr.’s recommendations or the management of your accounts, contact Attorney Pearce for a free initial consultation via email or Toll-Free 1-800-732-2889. Act promptly—strict time limits apply to securities-arbitration claims

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Jun 6, 2025

Brian Lee Culver of Cambridge Investment Reviews

DID BRIAN LEE CULVER CAUSE YOU INVESTMENT LOSSES? About Brian Lee Culver of Cambridge Investment Brian Lee Culver (CRD #6392736) is a Kalamazoo, Michigan–based adviser. He has been registered as a General Securities Representative with Cambridge Investment Research, Inc. since January 5 2015 and as an Investment Adviser Representative with Cambridge Investment Research Advisors, Inc. since October 28 2015. Culver entered the industry in 2015 and has no principal/supervisory exams; he has passed two General Industry/Product exams (Series 7 & SIE) and two State Law exams (Series 63 & 65). He is currently registered with one self-regulatory organization and licensed in Michigan, Texas, Alabama, and California. Brian Lee Culver Customer Complaints and Reviews There are five settled customer disputes disclosed on his BrokerCheck record. • Customer Dispute• Date Filed: March 31 2025• Details: A client alleged that Culver reallocated a variable annuity without notice, authorization, or consultation.• Product: Variable Annuity• Alleged Damages: Not specified (firm could not determine damages < $5,000)• Status: Settled—the firm paid $25,701.15 on March 31 2025; Culver reported no personal contribution. Allegations Against Brian Lee Culver The settled complaints generally accuse Culver of: Brian Lee Culver Red Flags & Your Rights as an Investor Multiple settlements—even if the broker paid nothing personally—are meaningful red-flag indicators. FINRA-registered representatives must obtain prior authorization for trades, recommend only suitable investments, and honor client objectives. If you suspect your annuity or investment account was mishandled by Brian Lee Culver, you may pursue recovery through FINRA arbitration, a forum typically faster and less costly than court litigation. Did You Lose Money Because of Broker Misconduct? If you have lost money due to negligence or fraud by a stockbroker or advisor, the easiest way to know if you have a case is to call our office at 800-732-2889. Our investment fraud attorneys will evaluate your claim for free and let you know if we can help you recover your losses. Need Legal Help? Let’s talk. or, give us a ring at 561-338-0037. File a Claim to Recover Your Investment Losses at Cambridge Investment Research Due to Brian Lee Culver If you have concerns about Brian Lee Culver’s recommendations or the management of your accounts, contact Attorney Pearce for a free initial consultation via email or Toll-Free 1-800-732-2889. Act promptly—strict time limits apply to securities-arbitration claims

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Jun 5, 2025

Jamie Theresa Nowakowski (formerly of Equitable Advisors, LLC) Reviews

DID JAMIE THERESA NOWAKOWSKI CAUSE YOU INVESTMENT LOSSES? About Jamie Theresa Nowakowski Jamie Theresa Nowakowski is no longer registered as a broker; her most recent affiliation—Equitable Advisors, LLC (Venice, FL)—ended January 2025. Past firms include Coastal Equities, Inc. (2017-2020), Wells Fargo Advisors Financial Network, and several earlier wire-house positions. She entered the industry in 2001 and has passed two principal/supervisory exams (Series 24 & 26), three general industry/product exams (Series 7, 6, SIE) and two state-law exams (Series 63 & 65) . Jamie Theresa Nowakowski Customer Complaints and Reviews There are seven customer disputes noted on her BrokerCheck report. • Customer Dispute• Date Filed: March 3 2025 (FINRA Arbitration #25-00423)• Details: The customer alleges that Nowakowski recommended unsuitable alternative-investment products while she was at Coastal Equities.• Product: Alternative Investments (Direct-Participation & Limited-Partnership interests)• Alleged Damages: $190,000• Status: Complaint is pending in FINRA arbitration. Allegations Against Jamie Theresa Nowakowski The pending and settled cases generally accuse Nowakowski of: Jamie Theresa Nowakowski Red Flags & Your Rights as an Investor Seven customer disputes—three of them still pending—and multiple six-figure settlements represent serious red-flag indicators. Brokers and former brokers must recommend only suitable investments and fully disclose all material risks. If you purchased illiquid alternative investments or GWG L-bonds through Nowakowski and suffered losses, you may seek recovery through FINRA arbitration, a forum typically faster and less expensive than court. Did You Lose Money Because of Broker Misconduct? If you have lost money due to negligence or fraud by a stockbroker or advisor, the easiest way to know if you have a case is to call our office at 800-732-2889. Our investment fraud attorneys will evaluate your claim for free and let you know if we can help you recover your losses. Need Legal Help? Let’s talk. or, give us a ring at 561-338-0037. File a Claim to Recover Your Investment Losses Due to Jamie Theresa Nowakowski If you have concerns about Jamie Theresa Nowakowski’s recommendations or the management of your accounts, contact Attorney Pearce for a free initial consultation via email or Toll-Free 1-800-732-2889. Act promptly—strict time limits apply to securities-arbitration claims

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Jun 5, 2025

Shaun Brian Orcinolo Customer Complaints and Reviews

DID Shaun Brian Orcinolo CAUSE YOU INVESTMENT LOSSES? About Shaun Brian Orcinolo of Morgan Stanley Shaun Brian Orcinolo (CRD #2433357) is a Fort Lauderdale, Florida–based financial advisor. He has been registered as a General Securities Representative with Morgan Stanley since October 18 2011 and as an Investment Adviser Representative since October 24 2011. Orcinolo entered the securities industry in 1994, previously working at UBS Financial Services, Citigroup Global Markets and other firms. Shaun Brian Orcinolo Customer Complaints and Reviews There is one pending customer dispute noted on his disclosure report. • Customer Dispute• Date Filed: October 3 2024 (FINRA Arbitration #24-02119)• Details: The claimant alleges that a series of variable annuities purchased between 2014 and 2024 were not in her best interests, asserting negligence and breach of fiduciary duty.• Product: Insurance – Variable Annuities• Alleged Damages: $2,000,000• Status: Complaint is pending. Allegations Against Tony Barouti Allegations Against Shaun Brian Orcinolo Shaun Brian Orcinolo Red Flags & Your Rights as an Investor Although Orcinolo has not admitted to any wrongdoing, a $2 million pending claim is a significant red flag. FINRA-registered brokers must recommend only suitable investments and fully disclose all material risks. Current or former clients should review their annuity holdings and overall account performance to determine whether unsuitable product sales or other misconduct may have caused losses. If red flags arise, you have the right to pursue recovery—typically through FINRA arbitration, which is faster and less costly than court litigation. Did You Lose Money Because of Broker Misconduct? If you have lost money due to negligence or fraud by a stockbroker or advisor, the easiest way to know if you have a case is to call our office at 800-732-2889. Our investment fraud attorneys will evaluate your claim for free and let you know if we can help you recover your losses. Need Legal Help? Let’s talk. or, give us a ring at 561-338-0037. File a Claim to Recover Your Investment Losses at Morgan Stanley Due to Shaun Brian Orcinolo If you have concerns about Shaun Brian Orcinolo’s recommendations or the management of your accounts, contact Attorney Pearce for a free initial consultation via email or Toll-Free 1-800-732-2889. Act promptly—strict time limits apply to securities-arbitration claims

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Jun 3, 2025

Tony Barouti of Emerson Equity LLC Reviews

DID TONY BAROUTI CAUSE YOU INVESTMENT LOSSES? Tony Barouti Of Emerson Equity LLC Has 46 Customer Complaints For Alleged Broker Misconduct Tony Barouti Customer Complaints and Reviews Tony Barouti’s FINRA report contains a significant number of customer disputes, marking a notable aspect of his professional record: Allegations Against Tony Barouti The allegations against Tony Barouti primarily involve issues related to the suitability of investments and professional conduct: Tony Barouti Red Flags & Your Rights As An Investor Of course, Tony Barouti did not admit to any of the allegations. But regardless of whether an arbitration award was entered, a settlement occurred, or the customer complaint is still pending, the allegations made by customers are red flags which should put all current and former customers of Tony Barouti at Emerson Equity LLC on alert to review carefully the activity and performance of their accounts and question whether Tony Barouti has engaged in any stockbroker misconduct that may have caused them investment losses. The large number of customer complaints at Emerson Equity LLC also raises questions about the brokerage firm’s supervisory practices. If these red flags raise questions, call us and we will inform you of your rights as an investor. Did You Lose Money Because of Broker Misconduct? If you have lost money due to negligence or fraud by a stockbroker or advisor, the easiest way to know if you have a case is to call our office at 800-732-2889. Our investment fraud attorneys will evaluate your claim for free and let you know if we can help you recover your losses. Need Legal Help? Let’s talk. or, give us a ring at 561-338-0037. File A Claim To Recover Your Investment Losses At Emerson Equity LLC Due To Tony Barouti If you have questions about Emerson Equity LLC and/or Tony Barouti and the management or performance of your accounts, please contact Attorney Pearce for a free initial consultation via email or Toll Free at 1-800-732-2889.

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Jun 3, 2025

William Campbell of David Lerner Associates, Inc.

DID WILLIAM LEE CAMPBELL CAUSE YOU INVESTMENT LOSSES? William Campbell Of David Lerner Associates, Inc. Has 5 Customer Complaints For Alleged Broker Misconduct William L. Campbell Customer Complaints and Reviews There are five customer disputes noted on his BrokerCheck report. • Customer Dispute• Date Filed: March 10, 2022• Details: The customer alleges that Campbell recommended unsuitable Energy 11 and Energy 12 limited-partnership investments between September 2016 and March 2022, misrepresented the associated risks, and breached his fiduciary duty.• Product: Energy-sector Limited Partnerships / Mutual Funds• Alleged Damages: “More than $5,000” (exact amount unspecified)• Status: Settled October 16, 2023 – $14,999 paid (no personal contribution) Allegations Against William Campbell A sample of the allegations made in the FINRA reported arbitration claim settlements and/or pending complaints for investment losses are as follows: William Campbell Red Flags & Your Rights As An Investor Of course, William Campbell did not admit to any of the allegations. But regardless of whether an arbitration award was entered, a settlement occurred, or the customer complaint is still pending, the allegations made by customers are red flags which should put all current and former customers of William Campbell at David Lerner Associates, Inc. on alert to review carefully the activity and performance of their accounts and question whether William Campbell has engaged in any stockbroker misconduct that may have caused them investment losses. The large number of customer complaints at David Lerner Associates, Inc. also raises questions about the brokerage firm’s supervisory practices. If these red flags raise questions, call us and we will inform you of your rights as an investor. Did You Lose Money Because of Broker Misconduct? If you have lost money due

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Jun 3, 2025

William Dobbs of Centaurus Financial, Inc. Reviews

DID WILLIAM DALE DOBBS CAUSE YOU INVESTMENT LOSSES? William Dobbs Of Centaurus Financial, Inc. Has 11 Customer Complaints For Alleged Broker Misconduct About William Dale Dobbs of Centaurus Financial, Inc. William Dale Dobbs (CRD #1064156) is based in Clinton, Tennessee and has been a registered broker with Centaurus Financial, Inc. since April 13 2009 and an investment-adviser representative with the firm since April 7 2009. He entered the securities industry in 1982 and previously worked for MetLife Securities Inc., Metropolitan Life Insurance Co., Sunset Financial Services, John Hancock Distributors, and other firms. Dobbs has passed three General Industry/Product exams (including the Series 7) and two state securities-law exams (Series 63 & 66); no principal/supervisory exams are listed. He is currently licensed in California, Iowa, and Tennessee and registered with one self-regulatory organization. William Dobbs Customer Complaints and Reviews William Dobbs has multiple disclosure events on his record: Allegations Against William Dobbs The allegations against William Dale Dobbs include: William Dobbs Red Flags & Your Rights As An Investor Of course, William Dobbs did not admit to any of the allegations. But regardless of whether an arbitration award was entered, a settlement occurred, or the customer complaint is still pending, the allegations made by customers are red flags which should put all current and former customers of William Dobbs at Centaurus Financial, Inc. on alert to review carefully the activity and performance of their accounts and question whether William Dobbs has engaged in any stockbroker misconduct that may have caused them investment losses. The large number of customer complaints at Centaurus Financial, Inc. also raises questions about the brokerage firms’ supervisory practices. If these red flags raise questions, call us and we will inform you of your rights as an investor. Did You Lose Money Because of Broker Misconduct? If you have lost money due to negligence or fraud by a stockbroker or advisor, the easiest way to know if you have a case is to call our office at 800-732-2889. Our investment fraud attorneys will evaluate your claim for free and let you know if we can help you recover your losses. Need Legal Help? Let’s talk. or, give us a ring at 561-338-0037. File A Claim To Recover Your Investment Losses At Centaurus Financial, Inc. Due To William Dobbs If you have questions about Centaurus Financial, Inc. and/or William Dobbs and the management or performance of your accounts, please contact Attorney Pearce for a free initial consultation via email or Toll Free at 1-800-732-2889.

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