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Read MoreCarlson Law Files Case Involving Matthew Stucke of Cambridge Investment Research
Today, Carlson Law filed a FINRA arbitration against Cambridge Investment Research, alleging in excess of $100,000 in damages.
Our client alleges financial losses due to investment recommendations by former Cambridge Investment Research broker Matthew Stucke.
Matthew Stucke was a registered representative with Cambridge Investment Research, Inc. from May 2020 to November 2022. He is no longer with Cambridge and currently registered with Cetera Advisor Networks, LLC. Stucke was previously registered with numerous brokerage firms, including six others from 2005 to 2020.
The Carlson Law client alleges the following in the FINRA claim filed today:
Stucke engaged in extremely risky trading in [client]’s account with investments predominantly in technology and financial technology (“fintech”) stocks as well as various special purpose acquisition companies (“SPACs”). From September 2021 until the account was closed in August 2022, it was between 85% and 95% invested in equities.
[Client]’s account realized losses of approximately $63,000 in two rival Bitcoin mining companies—Marathon Digital Holdings, Inc. (“Marathon”; Ticker: MARA) and Riot Platforms, Inc. (“Riot”; Ticker: RIOT).
[Client]’s account also realized losses of over $26,000 in two fintech companies—SoFi Technologies, Inc. (“SoFi”; Ticker: SOFI) and Upstart Holdings, Inc. (“Upstart”; Ticker: UPST).
Stucke made several high-risk SPAC investments in [Client]’s account, such as Gores Guggenheim, Inc. (Ticker: GGPI), Digital World Acquisition Corp. (Ticker: DWAC), Switchback Energy Acquisition Corp. (Ticker: SBE), and five of the six offerings by Social Capital Hedosophia Holdings Corp.
Carlson Law is seeking compensatory damages, attorney’s fees, interest, costs, and punitive damages for the our client.
Carlson Law represents investors throughout the United States in claims against financial advisors and investment firms. If you or a loved one have suffered investment losses, please call us at 888-976-6111 or complete our contact form for a free and confidential consultation.
