Category Archives: Concentrated Positions

Thomas Meier – Former Morgan Stanley Broker- Discloses 14 Customer Disputes- Miami, FL

September 2018 – Miami, FL

According to publicly available records Thomas Alan Meier  (CRD#1146044) ,  a  former stockbroker who was last registered with Morgan Stanley disclose a Regulatory Event and 14 prior customer disputes.

The Financial Industry Regulatory Authority (FINRA) is the agency that licenses and regulates stockbrokers and brokerage firms. FINRA requires brokers and brokerage firms to report customer complaints and disputes as well as regulatory sanctions. In addition brokers are required to disclose certain financial matters such as personal bankruptcies, judgments and liens.

Thomas Meier Barred From Securities Industry

In March of 2018, without admitting or denying the findings, Meier consented to the entry findings that he effected approximately 1,290 unauthorized transactions, including both purchases and sales of equity securities, in eight accounts belonging to six customers.    Meier did not have discussions with the customers about the trades prior to the transactions and did not obtain the customers’ authorization prior to executing any of the transactions.

Meier received approximately $265,000 in commissions for those transactions.   One of the customers realized a loss of approximately $120,000 and another realized a net loss of approximately $520,000.      Meier has been permanently barred from the securities industry as a result of these findings.

Numerous Settlements with Customers, Including: 

In December 2016 , two  Morgan Stanley customers alleged that Meier over concentrated their accounts in energy investments.   One case was settled for $80,000 and the other was settled for $65,000.

In January of 2017, a customer with Morgan Stanley alleged breach of fiduciary duty and negligence with regard to the handling of their accounts.    The case was settled for $450,000.

In December  2016, a Morgan Stanley customer alleged damages of $1,000,000 after Meier made unsuitable recommendations and traded the account to generate commissions.    The case was settled for $250,000.

In August 2016, a Morgan Stanley customer alleged breach of fiduciary duty and negligence with regard to the handling of their account.   The case was settled for $300,000.

In September of 2016, a Morgan Stanley customer alleged that Financial Advisor placed unauthorized trades and excessively traded her account between 2012-2016.   Her case settled for $366,577.

In March of 2016, another Morgan Stanley customer alleged misrepresentation related to their investments and liquidity from 2013-2016.   Their case settled for $497,245.

Other cases filed from March 2016 until October of 2016 by Morgan Stanley customers alleging, inter alia, “unauthorized trading, risky investments, breach of fiduciary duty, negligence, unsuitability, excessive trading and misrepresentation” were settled for the amounts of:  $49,999, $37,610, $60,000, $90,000, $40,580, $50,000 and $215,000.

Thomas Meier worked for Morgan Stanley from 6/2009-4/2016.

If you have questions about an investment account handled by Thomas Meier, contact us for a no charge consultation to learn about your legal options.

Rex Securities Law , with offices in Boca Raton, FL,  and  Austin, TX,   provides representation to  investors  nationwide who are seeking recovery of investment losses due to the negligence or fraud of stockbrokers and broker dealers. If you have questions about how your account has been handled, call to speak with an experienced securities attorney.

Most cases handled on a contingent fee basis meaning that you do not pay legal fees unless we are successful.

Nationwide Representation

Rex Securities Law

TollFree: 877-224-3199

Florida-561 391 1900 

Texas-512-329-2870

Brian Hussey-Former Ameriprise Broker-Suspended Over Marijuana Penny Stocks-Tampa, FL

September 2018-Tampa, FL

The FINRA records of  Brian John Hussey, Jr. ,  a  stockbroker who was formerly employed by Ameriprise Financial Services disclose a recent regulatory event resulting in a suspension and a prior customer dispute.

The Financial Industry Regulatory Authority (FINRA) is the agency that licenses and regulates stockbrokers and brokerage firms. FINRA requires brokers and brokerage firms to report customer complaints and disputes as well as regulatory sanctions. In addition brokers are required to disclose certain financial matters such as personal bankruptcies, judgments and liens.

In May 2018 Hussey was suspended for seven months by FINRA to resolve allegations that he made unsuitable recommendations and mismarked transactions regarding penny stocks and failed to provide notice of de facto discretionary trading at a third party firm. According to the FINRA proceeding Hussey recommended to oa customer that she sell 100 percent of the mutual fund positions in her IRA account and invest the proceeds in penny stocks focussed on the marijuana business.

Solicitation of penny stocks violated his firm’s policy prohibiting soliciting penny stocks. Hussey attempted to conceal his actions by mismarking the the trades as being unsolicited.

The customer brought a claim against the firm and was paid $67,019 in settlement thereof.

Hussey was employed by Ameriprise from  2/2008-6/2018.

If you have losses in an account in an account handled by Brian Hussey , contact us for a no charge consultation to discuss how you may be able to recover damages for those losses through FINRA arbitration.

Rex Securities Law , with offices in Boca Raton, FL,  and  Austin, TX,   provides representation to  investors  nationwide who are seeking recovery of investment losses due to the negligence or fraud of stockbrokers and broker dealers. If you have questions about how your account has been handled, call to speak with an experienced securities attorney.

Most cases handled on a contingent fee basis meaning that you do not pay legal fees unless we are successful.

Nationwide Representation

Rex Securities Law

TollFree: 877-224-3199

Florida-561 391 1900 

Texas-512-329-2870

Eric Stuckey-Cornerstone Private Client Group-Discloses Customer Suits-Suwanee, GA

August 2018-Suwanee, Georgia

The FINRA records of  Eric Todd Stuckey ,  a  stockbroker who formerly worked for  Invest Financial  disclose a pending customer suit,  4 prior customer disputes and 2 currently outstanding judgment/liens.

The Financial Industry Regulatory Authority (FINRA) is the agency that licenses and regulates stockbrokers and brokerage firms. FINRA requires brokers and brokerage firms to report customer complaints and disputes as well as regulatory sanctions. In addition brokers are required to disclose certain financial matters such as personal bankruptcies, judgments and liens.

In May 2018 a customer of Invest Financial was paid $25,000 to resolve allegations that Stuckey placed their account into high risk funds that were not suitable.

In FINRA Case 16-1532 a customer of Invest Financial was paid $14,750 to resolve allegations that Stuckey placed their portfolio into three unsuitable energy sector investments.

In currently pending FINRA Case 18-1847 a customer of Invest Financial seeks damages of $220,000 and alleges that Stuckey recommended unsuitable investments, including unsuitable annuities, and failed to disclose risks.

Stuckey discloses that the Internal Revenue Service has a tax lien against him for over $186,000.

Eric Stuckey was employed by Invest Financial from 2/2009-1/2018. He is currently employed by Ameriprise Financial Services. Stuckey operates Cornerstone Private Client Group in Suwanee, GA.

If you have losses in an account  handled by Eric Stuckey , contact us for a no charge consultation to learn how you may be able to recover damages through FINRA arbitration.

Rex Securities Law , with offices in Boca Raton, FL,  and  Austin, TX,   provides representation to  investors  nationwide who are seeking recovery of investment losses due to the negligence or fraud of stockbrokers and broker dealers. If you have questions about how your account has been handled, call to speak with an experienced securities attorney.

Most cases handled on a contingent fee basis meaning that you do not pay legal fees unless we are successful.

Nationwide Representation

Rex Securities Law

TollFree: 877-224-3199

Florida-561 391 1900 

Texas-512-329-2870

Walter M. Stucker-Former UBS Broker- Named In $600K Suit Over Energy Investments-Ft. Worth, TX

August 2018-Ft. Worth, Texas

The FINRA records of  Walter M. Stucker,  a  stock broker who is currently employed by Wells Fargo Clearing Services ,  disclose a pending customer dispute and 2 prior customer disputes.

The Financial Industry Regulatory Authority (FINRA) is the agency that licenses and regulates stockbrokers and brokerage firms. FINRA requires brokers and brokerage firms to report customer complaints and disputes as well as regulatory sanctions. In addition brokers are required to disclose certain financial matters such as personal bankruptcies, judgments and liens.

In currently pending FINRA arbitration 18-1155 a customer of UBS Financial Services alleges that Stucker unsuitably concentrated their portfolio in the energy sector and misrepresented the risks associated. The customer seeks damages of $600,000.

Stucker was employed by UBS Financial from 4/2008-5/2017. He is currently employed by Wells Fargo.

If you have losses in an account handled by Walter M. Stucker call for a no charge consultation to discuss your legal options for recovery of damages.

Rex Securities Law , with offices in Boca Raton, FL,  and  Austin, TX,   provides representation to  investors  nationwide who are seeking recovery of investment losses due to the negligence or fraud of stockbrokers and broker dealers. If you have questions about how your account has been handled, call to speak with an experienced securities attorney.

Most cases handled on a contingent fee basis meaning that you do not pay legal fees unless we are successful.

Nationwide Representation

Rex Securities Law

TollFree: 877-224-3199

Florida-561 391 1900 

Texas-512-329-2870

Shon E. Flaharty-LPL Financial Broker-Subject of $566K Customer Suit-Clearwater, FL

July 2018-Clearwater, Florida

The FINRA records of  Shon E. Flaharty,  a  stock broker who is currently employed by LPL Financial,  disclose  a currently pending customer dispute.

The Financial Industry Regulatory Authority (FINRA) is the agency that licenses and regulates stockbrokers and brokerage firms. FINRA requires brokers and brokerage firms to report customer complaints and disputes as well as regulatory sanctions. In addition brokers are required to disclose certain financial matters such as personal bankruptcies, judgments and liens.

In the currently pending matter , a customer of LPL Financial seeks damages of $566,320 and alleges that Flaharty over concentrated their account with unsuitable ETF investments.

Flaharty has worked for LPL Financial since 9/2007 and operates Flaharty Asset Management in Clearwater, FL.

If you have losses in an account handled or supervised by Shon Flaharty call for a no charge consultation to discuss your legal options for recovery.

Rex Securities Law , with offices in Boca Raton, FL,  and  Austin, TX,   provides representation to  investors  nationwide who are seeking recovery of investment losses due to the negligence or fraud of stockbrokers and broker dealers. If you have questions about how your account has been handled, call to speak with an experienced securities attorney.

Most cases handled on a contingent fee basis meaning that you do not pay legal fees unless we are successful.

Nationwide Representation

Rex Securities Law

TollFree: 877-224-3199

Florida-561 391 1900 

Texas-512-329-2870