Gregory Hersch, Broker with Old City Securities, Named in Customer Dispute Seeking Over $1M in Damages

Hersch is accused of breach of fiduciary duty, constructive fraud, and negligence, among other forms of misconduct.

Gregory Hersch (CRD: 3254629) is registered as a broker with Old City Securities, where he has been employed since 2017. Hersch is registered as an investment adviser with Florence Capital Advisors, where he has been employed since August 2020.

Hersch has one disclosure on his BrokerCheck report.

December 2020 Customer Dispute

• Status: Pending
• Allegations: Breach of Fiduciary Duty, Constructive Fraud, Fraud-Intentional Misrepresentation, Fraud – Concealment, Negligent Misrepresentation, Negligence. Allegations stem from investments in a private fund.
• Damage Amount Requested: $1,400,000.00
• Broker Comment: On December 16, 2020, FCA and its principal, Gregory Hersch, were named as parties in a private arbitration proceeding brought by a former client of FCA alleging breach of fiduciary duty, fraud, and misrepresentation, among other allegations. The claims in the arbitration proceeding stem from the former client’s investments in FF Fund I, LP, a private investment fund, and the alleged fraudulent activities of its Managing Member, Andrew T. Franzone. FCA and Mr. Hersch believe the allegations to be without merit, to be grossly inaccurate, and intend to defend against them vigorously.

Contact Us Today

The Sonn Law Group is currently investigating allegations surrounding Gregory Hersch. We represent investors in claims against negligent brokers and brokerage firms. If you or your loved one experienced investment losses, we are here to help. For a free consultation, please call us now at 866-827-3202 or complete our contact form.