Martin Unger
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Marty is a Partner in the firm's litigation and securities practice. A well-seasoned practitioner, he brings years of complex litigation experience from his prior experience with Blank Rome, LLP and Certilman Balin Adler & Hyman, LLP.
Since 1971, Marty has focused his practice on securities litigation and securities regulatory matters in federal and state courts and before self-regulatory organizations, including the Securities and Exchange Commission and the Commodity Futures Trading Commission. He has represented clients in lawsuits, arbitrations and administrative proceedings and investigations. Marty also represents clients in SEC and FINRA matters including formation of broker/dealers, CMA’s and expungements.
Marty has served on the Committee on Federal Regulation of Securities on Civil Litigation and SEC Enforcement Matters, the Litigation Section, Committee on Business Torts Litigation and the Committee on Securities Litigation of the American Bar Association. He is a member of the Nassau County Bar Association and has served as an arbitrator for FINRA, New York Stock Exchange, and American Arbitration Association. A published author of articles on arbitration, litigation and regulatory matters, he is admitted to the practice in the State of New York, as well as the U.S. Supreme Court, U.S. Courts of Appeal for the Second, Fifth, Ninth, Tenth and Eleventh Circuits and the Eastern and Southern District Federal Courts of New York.
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Christopher Rice vs. Shane Joseph Melito, Upinder Kumar Sharma, Philip A. Dina, Andrew C. Lavenziano
Commercial Litigation & Securities Arbitration
Claimant asserted the following causes of action: churning, suitability, unauthorized
trading, negligence, breach of fiduciary duty, breach of contract, misrepresentation, lost
opportunity damages, failure to supervise, and disgorgement. In the Amended
Statement of Claim, the Claimant added the following cause of action: failure to
supervise. The causes of action relate to various securities.
Unless specifically admitted in his Statement of Answer and Amended Statement of
Answer, Respondent Melito denied the allegations made in the Statement of Claim and
Amended Statement of Claim, and asserted various affirmative defenses.
Unless specifically admitted in his Statement of Answer, Respondent Sharma denied the
allegations made in the Amended Statement of Claim and asserted various affirmative
defenses.
Unless specifically admitted in his Statement of Answer, Respondent Dina denied the
allegations made in the Amended Statement of Claim and asserted various affirmative
defenses.Award:
After considering the pleadings, the testimony and evidence presented at the hearing,
and the post-hearing submissions, the Panel has decided in full and final resolution of
the issues submitted for determination as follows:
1. Claimant’s claims against Respondents Melito and Lavenziano are denied in
their entirety.
2. Claimant’s claims against Respondent Sharma are dismissed in their entirety.
3. Respondent Melito’s request for expungement of his CRD records is denied.
4. Respondent Sharma’s request for expungement of his CRD records is
denied.
5. Any and all claims for relief not specifically addressed herein, including attorneys’
fees and punitive damages, are denied. -
James Hrzich and Eileen Hrzich v. Network 1 Financial Securities, Inc.
Commercial Litigation & Securities Arbitration
Summary: Claimants asserted the following causes of action: breach of fiduciary duty, unauthorized trading, negligence, breach of contract, fraud, misrepresentation, failure to supervise, negligent supervision, negligent hiring, and violation of FINRA rules. Claimants allege the actions related to various stocks and options.
Relief requested: In the Statement of Claim, Claimants requested compensatory damages in the amount of $150,000.00, punitive damages, interest, costs, attorneys’ fees, and such other damages the Panel deems appropriate.
Result: Attorney Martin Unger of Wexler Burkhart Hirschberg & Unger, LLP successfully defends respondent and broker/dealer Network 1 Financial Securities Inc. in suitability case. Claimants damages, fees, and awards denied in entirety.
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Jeffrey Richards v. Network 1 Financial Securities, Inc., et al.
Commercial Litigation & Securities Arbitration
Summary: Claimants alleged churning, unsuitability, unauthorized trading, negligence, breach of fiduciary duty, failure to supervise, breach of contract, and misrepresentation.
Relief requested: In the Statement of Claim, Claimant requested sum total of $138,677.90 in damages from all named respondents.
Result: Attorney Martin Unger of Wexler Burkhart Hirschberg & Unger, LLP successfully defends all respondents in arbitration. Claimant’s claims, each and all, are denied.
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