Abraham Biderman: Palladium Capital Advisors Managing Director Barred
Abraham Biderman, former Managing Director of Palladium Capital Advisors of New York, New York, was barred by FINRA as a result of failing to comply with FINRA’s investigation related to allegations that Biderman potentially participated in private securities transactions. In February 2018, Biderman was terminated by Palladium over suspicion of “possible violation of The Firm’s procedures.”
Biderman had been with Palladium since May 2010, prior to which he spent time with Lipper and Company, LP. At the time of Biderman’s bar, he was still described on Palladium Capital Advisor’s website as one of its “Key People.” His profile on Palladium’s site read:
Abraham Biderman, CPA– Managing Director, has experience in all aspects of financial services and management. As chairman of Eagle Advisers, a financial services and money management firm, Mr. Biderman has focused on investment banking. Prior to joining Palladium, he served as director of various public companies, as Executive Vice President of multi-billion dollar Lipper & Co., as Executive Vice President, Treasurer and Secretary of Lipper Funds and Co-Manager of Lipper Convertibles. Mr. Biderman has served in leading roles of various New York City Departments
Biderman has two customer complaints and four tax liens disclosed on his Brokercheck report. The most recent complaint, lodged on August 15, 2016, alleged $10,000,000 of damages:
CLAIMANTS, LIMITED PARTNERS OF LIPPER CONVERTIBLES, L.P. (THE “FUND”), COMMENCED THIS ARBITRATION ALLEGING, AMONG OTHER THINGS, MISSTATEMENT OF THE ASSET VALUES, PERFORMANCE AND PROFITS OF THE FUND AND VIOLATION OF CERTAIN TERMS OF THE FUND’S LIMITED PARTNERSHIP AGREEMENT ADN OFFERING MEMORANDUM. CLAIMANTS ASSERT CLAIMS AGAINST MR. BIDERMAN FOR FRAUD, AIDING AND ABETTING COMMON LAW FRAUD, NEGLIGENT MISREPRESENTATION, BREACH OF FIDUCIARY DUTY, AIDING AND ABETTING BREACH OF FIDUCIARY DUTY, BREACH OF CONTRACT, NEGLIGENCE, VIOLATIONS OF SECTION 10(B) AND 20(A) OF THE SECURITIES AND EXCHANGE ACT OF 1934, AND RULE 10B-5 THEREUNDER, UNJUST ENRICHMENT AND MONEY HAD AND RECEIVED. CLAIMANTS ASSERT THESE AND AND OTHER CLAIMS AGAINST OTHER RESPONDENTS. MR. BIDERMAN DENIES ANY AND ALL LIABILITY
If you believe you were sold unsuitable investments by Abraham Biderman, Palladium Capital Advisors, or another financial advisor, please contact us at 888-976-6111 for a free consultation.