Category Archives: Edward Jones

Jack Maloney-Former Edward Jones Broker-Subject of Customer Suits-Morristown/Johnson City, TN

June 2018- Morristown/Johnson City , Tennessee

The FINRA records of John J. Maloney III (Jack Maloney , a stock broker who is employed by Woodbury Financial Services , disclose  2 pending customer disputes, 3 prior customer disputes,  and a termination from employment.

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.

Two FINRA arbitrations are currently pending:

  • Case 17-3464- A customer of Maloney’s prior employer Edward Jones seeks damages of $329,523 and alleges that recommendations to invest in FireEye since 2014 was not a suitable investment.
  • Case 17-3010-Another Edward Jones customer alleges that Maloney made misrepresentations, unsuitable recommendations, breached his fiduciary duty and other claims from 12/1998-5/2016. The customer seeks an unspecified amount of damages.

In 6/2017 a customer of Edward Jones was paid $132,500 to settle FINRA Case 16-1706 in which they alleged that Maloney made unsuitable recommendations to purchase individual equities that resulted in losses.

Jack Maloney  was employed by Edward Jones from 3/1981 until he was discharged in 5/2016. According to Edward Jones “Mr. Maloney did not adhere to the Firm’s policy regarding suitability of recommendations”.  Maloney has been employed by Woodbury Financial Services since 6/2016, and operates Crossbridge Wealth Management & Benefits Group in Johnson City, TN.

FireEye stock reached a high of $88 in February of 2014 and currently trades for about $17.

Brokers have a duty to make recommendations that are suitable, taking into account the age, health, level of financial sophistication, risk tolerance and investment objectives of the customer.

If you have questions about  an account handled by Jack Maloney, call 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

Terry D. Eskind-Edward Jones Broker-Discloses Settlement of Customer Dispute-Conover, N. Carolina

May 2018- Conover, N. Carolina

According to FINRA records,  Terry Dewayne Eskind  a stock broker who  is currently employed by Edward Jones , discloses a recent settlement of a customer complaint.

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 11/2017  a customer of Edward Jones  alleged that Eskind’s recommendation to sell a variety of stocks in 2015 was poor advice resulting in significant tax consequences. In April 2018, the customer was paid $100,000 to resolve the claim.

Terry Eskind has been employed by Edward Jones since 5/2010.

If you have questions about losses  an account handled  by Terry D. Eskind, call for a no charge consultation to learn how you may be able to recover 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

Arshad Hussain-Former NEXT Financial Broker-Discharged by NEXT Financial for Improper Trading-Jasper, Alabama

April 2018 -Jasper, Alabama

According to FINRA records, Arshad Hussain ,  a currently unregistered  stockbroker who formerly was employed by NEXT Financial Group, disclose 3 prior customer disputes, two terminations from employment and a currently outstanding judgment/lien.

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.

Arshad Hussain Has Been Discharged Twice

Recently, in March 2018, Hussain was discharged by NEXT Financial Group who makes the following allegation on his FINRA record: “A review of RR trading activity for two customers revealed transactions involving short-term holds on long-term products which appeared to provide no financial benefit to the customers. In addition, the RR concealed the source of the funds by inaccurately completing firm product disclosure forms and product sponsor applications.”

In 7/2007, Hussain was discharged from his prior employer, Edward Jones who makes the following allegation on his FINRA record:“Discretion and engaging in trading practices not in line with firm’s investment policy.”

Hussain discloses a currently outstanding judgement/lien filed in Walker County, AL, in the amount of $1,213 in favor of Capital One Bank.

Arshad Hussain  was employed by NEXT Financial from 11/2007-4/2018. NEXT Financial Group is headquartered in Houston, TX, and has over 600 registered persons in over 400 branch offices nationwide.

If you have losses  in an account handled by Arshad Hussain or believe that your account has been mishandled contact us for a no charge consultation to discuss 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

David Lancaster-Former Edward Jones Broker-Subject of Investigation for Unauthorized Trading-Wagoner, OK

April 2018 -Wagoner, OK

According to FINRA records, William David Lancaster ,  a  stockbroker who formerly was employed by Edward Jones, disclose a prior customer dispute, a regulatory investigation and a termination from employment.

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.

According to Enforcement Division Recommendations  filed by the State Of Oklahoma Department of Securities in March 2018,  Lancaster is the subject of an internal investigation commenced by Edward Jones regarding discretionary trading in as many as 20 customer accounts. However, in an application filed by Lancaster with the regulatory he made inaccurate representations to the regulator regarding knowledge of the investigation. The Oklahoma regulator found that Lancaster has engaged in dishonest and unethical practices in the securities business.

David Lancaster  was employed by Edward Jones from 4/1999-2/2018.

Brokers have a duty to discuss purchases and sales with their customers prior to making trades in their accounts, unless previous written authority has been granted to the broker by the customer.

If you have losses  in an account handled by David Lancaster or believe that your account has been mishandled contact us for a no charge consultation to discuss 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