INVESTORS: Stifel, Nicolaus & Company broker Kenneth David Blumberg was named in a customer dispute alleging failure to diversify, unsuitable investments, misrepresentation and claim violation of common law fraud, breach of fiduciary duty, and negligence.
Kenneth David Blumberg (CRD#: 1585520) is registered as a broker and investment adviser with Stifel, Nicolaus & Company, where he’s been employed since 2007. Previously, Blumberg was registered as a broker and investment adviser with Ryan Beck & Co. from 2005 until 2007.
Blumberg has five disclosures on his BrokerCheck report. Two customer disputes filed against Blumberg were denied.
March 2022 Customer Dispute
Allegations: Claimants allege failure to diversify, unsuitable investments, misrepresentation and claim violation of common law fraud, breach of fiduciary duty, and negligence.
Damage Amount Requested: $100,000.01
December 2017 Customer Dispute
Status: Award / Judgment
Allegations: Claimants allege breach of contract, professional negligence, breach of fiduciary duty, violation of Maryland Securities Act, violation of the Securities Exchange Act of 1934 and SEC Rule 10b-5, and negligent supervision.
Damage Amount Requested: $20,000,000.00
Damages Granted: $1,524,176.00
August 2003 Customer Dispute
Allegations: Alleged unsuitability, breach of fiduciary duty, breach of contract, fraud, negligence, churning, and misrepresentation.
Damage Amount Requested: $50,000.00
Damages Granted: $27,000.00
Broker Comment: The broker was dismissed as part of the settlement.
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