Thomas Paul Tibaldi, Broker with Citigroup Global Markets, Facing Customer Dispute Alleging Unsuitable Investment Recommendations

INVESTORS: Citigroup Global Markets broker Thomas Paul Tibaldi is facing a pending customer dispute alleging failure to provide suitable recommendations, failure to execute an order for sale, misrepresenting/omitting material information in connection with the account and failure to supervise an employee.

Thomas Paul Tibaldi (CRD#:2672406) is registered as a broker and investment adviser with Citigroup Global Markets, where he’s been employed since 2003. Previously, Tibaldi was registered as a broker and investment adviser with Merrill Lynch from 1998 until 2003.

Tibaldi has five disclosures on his BrokerCheck report. Three customer disputes filed against him were denied.

May 2022 Customer Dispute

Status: Pending

Allegations: Claimant alleges breaches of fiduciary duties related to recommendations regarding bond mutual funds, failure to provide suitable recommendations, failure to execute an order for sale, misrepresenting/omitting material information in connection with the account and failure to supervise an employee (February 2022-April 2022)

Damage Amount Requested: $44,346.00

October 2002 Customer Dispute

Status: Settled

Allegations: Claimant alleges unsuitable transactions in his accounts. Claimant also alleges misrepresentations with respect to research recommendations.

Damage Amount Requested: $400,000.00

Settlement Amount: $105,000.00

Broker Comment: Matter settled to avoid the expense of litigation. Matter settled without a admission of liability. Claimant agreed to joint motion to panel to expunge the cred of the financial advisor (Tom Tibaldi).

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