A financial advisor and his company have filed a defamation lawsuit against a national securities law firm, alleging that the firm published false and damaging information about them. Michael A. Battalini and The Pittsburgh Wealth Management Group Corporation filed the complaint in the Court of Common Pleas of Allegheny County, Pennsylvania, on July 22, 2024, targeting KlaymanToskes PA.
The plaintiffs allege that KlaymanToskes PA published multiple articles on its website that falsely implicated Battalini in significant financial misconduct. According to the complaint, these articles misrepresented the details of two Financial Industry Regulatory Authority (FINRA) arbitration cases involving Coastal Equities, Inc., where Battalini was previously employed. One article titled "Investor Alert: Michael Battalini/Pittsburgh Wealth Management Hit With $433k Customer Complaint" was posted on May 12, 2023. This article allegedly suggested that Battalini was solely responsible for $433,000 in damages claimed by multiple customers, which the plaintiffs assert is untrue since only $58,000 of those damages were attributable to him.
Another article dated September 12, 2023, accused Battalini of recommending unsuitable investments leading to $300,000 in losses for another customer. The plaintiffs argue that this too is false as Battalini had no involvement with those investment recommendations. A third article posted on March 15, 2024, further compounded these allegations by stating that Battalini faced two customer complaints totaling $733,000 in damages for unsuitable investments.
The plaintiffs claim these articles have severely damaged their reputations and business prospects. They argue that prospective clients have cited these misleading articles as reasons for not engaging with them. "Defendant’s malicious smear campaign against Plaintiff was outrageous," reads one part of the complaint.
Battalini and PWMG are seeking monetary damages exceeding $50,000 each for defamation and false light claims against KlaymanToskes PA. They also seek punitive damages along with costs and fees associated with the lawsuit.
Representing the plaintiffs are attorneys Andrew T. Bell and William J. Labovitz from Anderson & Labovitz LLC. The case has been assigned Case ID No., presided over by Judge [Name].