The allegations read: Tomer rabizadeh was a subject of the customer's complaint against his member firm that asserted the following causes of action: violation of the california securities act; breach of fiduciary duty; common law fraud; breach of contract; negligence/negligent misrepresentation/omission; and negligent supervision. The causes of action
relate to claimant's allegation that respondent switched claimant out of four mutual funds and invested the sale proceeds in 12 different mutual fund families, which
allegedly caused claimant to pay commissions, and prevented claimant from taking advantage of cost savings through mutual fund breakpoints.
