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Advisor Antoine Souma of Galliott Capital Advisors Files Motion to Dismiss FINRA Claim

BEVERLY HILLS, Calif. — Noted investment advisor Antoine Souma announced today that he has filed a motion to dismiss a claim made against him by Los Angeles physician Dr. Adel Samaan. The claim is currently pending before FINRA Dispute Resolution Services.

In seeking a swift dismissal of the claim, Mr. Souma and his representatives note the following:

  • Dr. Samaan’s claims are meritless.
  • Dr. Samaan has no standing to bring his FINRA action. He is not a trustee, officer or director of the entity bringing the claim, which means he lacks standing to file any such action under FINRA’s rules. FINRA regularly grants motions to dismiss claims in similar circumstances.
  • Dr. Samaan’s filing is an orchestrated smear against Mr. Souma’s reputation, starting with a press release issued on August 25, 2022, by Dr. Samaan’s lawyers bannered with a false headline stating that Mr. Souma was “sued for $1.4 million.”
  • A review of public court records show Dr. Samaan has an extensive litigation history involving approximately 150 court cases, around 85% of which list him as a plaintiff.
  • Regrettably, it is not unusual for investors to file meritless arbitration claims against their investment advisors in extremely volatile markets. FINRA is designed to manage such disagreements in a confidential, professional manner that respects due process rather than through public campaigns.

“I am confident that this frivolous claim smearing my reputation, my business, and my family will be dismissed in a timely manner when FINRA has an opportunity to review the facts,” Mr. Souma said.

Mr. Souma is Managing Partner of Galliott Capital Advisors, where he manages assets for high-net-worth individuals. Previously, Mr. Souma ran The Souma Group at Morgan Stanley Private Wealth Management, served as Managing Director at J.P. Morgan Securities and was a Vice President at Deutsche Bank and UBS Financial Services. His honors have included being ranked on Barron’s list of Top 100 Financial Advisors.

Mr. Souma is represented by partners Jeffrey K. Riffer and Julie Z Kimball of Elkins Kalt Weintraub Reuben Gartside LLP.

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