Kenneth David Blumberg, Broker with Stifel Nicolaus & Company, Named in Customer Dispute Alleging Recommendations of Unsuitable Investments

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

Status: Pending

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

Status: Settled

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.

If you have any information about Kenneth David Blumberg that you would like to share or discuss, please call our firm for a confidential consultation. 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.