FINRA: GPB Automotive Complaint Involving Dennis Cirbo Settles
Dennis Cirbo (CRD #: 733633), an investment adviser registered with Madison Avenue Securities, has been involved in a settlement concerning GPB Automotive according to his BrokerCheck record, accessed on January 10, 2022. If you have worked with Mr. Cirbo or invested in GPB Automotive, keep reading for more detail.
Investor’s Settlement Involved GPB Automotive
On September 17, 2020, a client alleged that Dennis Cirbo made an unsuitable investment recommendation of a GPB Automotive security. GPB Automotive has been named in several investor disputes as well as an FBI investigation. The client is seeking $150,000; the dispute recently settled for $80,000 according to FINRA.
On January 22, 2010, clients alleged that Dennis Cirbo alleged that he recommended unsuitable speculative mutual funds. The clients further alleged that he misrepresented certain securities and omitted material information regarding the risk of the fund. The client sought $113,000; the dispute also settled.
Dennis Cirbo has passed the Series 63 Uniform Securities Agent State Law Examination, the Securities Industry Essentials Examination, the Series 22 Direct Participation Programs Representative Examination, and the Series 6 Investment Company Products / Variable Contracts Representative Examination. He is a registered broker in Arizona, California, Colorado, Florida, Kansas, Nebraska, Texas, and Washington. Mr. Cirbo is also a registered investment adviser in Colorado.
During his career, Cirbo has worked at the following firms:
- Investment Advisors (CRD #: 15708)
- ProEquities Inc. (CRD #: 15708)
- The O.N. Equity Sales Company (CRD #: 2936)
- SMA Equities, Inc. (CRD #: 3960)