Tag Archives: recover energy related investment losses

Jack W. Griffith Jr-Janney Montgomery Broker-Subject of $4.2M Customer Suit Over Energy Investments-Columbia, S. Carolina

June 2018- Columbia, South Carolina

The FINRA records of Jack Wendell Griffith, Jr.  , a stock broker who is employed by Janney Montgomery Scott , disclose  3 pending customer disputes, 2 prior customer disputes,  and an 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.

Three FINRA arbitrations are currently pending:

  • Case 17-2080-A customer of Janney Montgomery Scott (Janney) seeks damages of $4.2 million and alleges that Griffith recommended unsuitable securities and caused the client’s accounts to be over concentrated in energy investments.
  • Case 18-081-A customer of Janney seeks damages of $200,000 and alleges the Griffith made questionable recommendations and exposed the the client to overconcentration.
  • Case 18-0083- Another customer of Janney seeks damages of $150,000 alleging that Griffith made unsuitable investments in their accounts.

Griffith  has been employed by Janney Montgomery Scott since 1/2014. His securities industry employment prior to that includes Ameriprise Financial and A.G. Edwards.

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 W. Griffith, Jr. , 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

Timothy T. Gibbons-Former Morgan Stanley Broker-Ordered to Pay Former Customers $749K-New Orleans,LA

November 2017-New Orleans, LA

According to FINRA records,   without admitting or denying the findings, Timothy T. Gibbons a former Morgan Stanley broker,  entered into an agreement with FINRA to resolve allegations that he made unsuitable investment recommendations to five elderly customers ranging in age from 72 to 90.

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 FINRA Letter of Acceptance Waiver and Consent No. 2015047910601, Gibbons over concentrated the accounts of these elderly clients in a single energy related investment. The concentration level in the customer’s accounts ranged from 65% to 79%.

The recommendation to invest in such a manner was unsuitable based on the customer’s age, risk tolerance, investment objectives and financial circumstances. FINRA Rule 2111(a) requires stockbrokers to have a reasonable basis to believe that a recommended transaction or investment strategy is suitable for the customer taking those and other factors such as tax status, investment experience time horizon and liquidity needs, into account.

Gibbons, who was employed by Morgan Stanley from 2009-2015,  was suspended from association with any FINRA member for 18 months, fined $20,000 and ordered to pay partial restitution to the customers of $716,750.

If you have questions about an account handled  by Timothy Gibbons or if you believe your broker over concentrated your portfolio in energy stocks or made other unsuitable recommendations, call for a no charge consultation.

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

Lisa Lowi Investigation-Former RBC Capital Broker-W. Palm Beach, FL

November 2017-South Florida

We are investigating former RBC Capital Markets/ Janney Montgomery Scott broker Lisa J Lowi of West Palm Beach, Florida.

According to her official FINRA record, Lowi was recently barred from the securities industry after failing to appear before regulators who were investigating customer complaints and arbitrations alleging, among other things, unsuitable trading.

Lowi was employed by RBC Capital Markets from 10/2009-11/2015. She was employed by Janney Montgomery Scott until April 2016.

Lowi discloses 13 pending and 24 prior final customer complaints. The complaints allege a variety of improprieties, including: over concentration of energy sector corporate bonds, unsuitable junk bonds, high risk investments,

FINRA records, Lowi was previously known as Lisa Jacqueline Vineberg.

If you have losses in an account handled by Lisa Lowi, call to discuss how you may be able to recover damages from her former employer through FINRA arbitration.

The Law Office of Robert H. Rex, P.C. , 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

TollFree: 877-224-3199

Florida-561 391 1900 

Texas-512-329-2870

iPath Dow Jones-UBS Energy Sub ETN Losses May Be Recoverable Through FINRA Arbitration

With interest rates at an historic low during recent years, many brokerage firms and financial advisors, seeking yield for retirees, recommended investments in oil & gas investments, which include not only stocks, but master limited partnerships (MLPs) and more exotic investments that track various indexes related to oil and gas .

Since these  are dependent upon the price of oil or gas, commodities that fluctuate widely, and are often times leveraged, they are generally not considered to be suitable for the average retiree who has a moderate or conservative investment objective.

iPath DJ-UBS Energy Sub TR ETN (JJE) is designed to provide exposure to the Dow Jones-UBS Energy Subindex Total Return, reflecting the returns that are potentially available through and unleveraged investment in the futures contracts on energy commodities.  JJE traded at over $20 in June 2014. As of early February 2015, it is trading at just under $10.

If you were sold this investment with the belief that it was a low risk investment that was suitable for your portfolio, you may be able to recover damages for any losses you have suffered. Call to speak with an experienced securities attorney.

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

Losses on iPath S&P GSCI Crude Oil ETN May Be Recoverable

With interest rates at an historic low during recent years, many brokerage firms and financial advisors, seeking yield for retirees, recommended investments in oil & gas investments, which include not only stocks, but master limited partnerships (MLPs) and more exotic investments that track various indexes related to oil and gas .

Since these  are dependent upon the price of oil or gas, commodities that fluctuate widely, and are often times leveraged, they are generally not considered to be suitable for the average retiree who has a moderate or conservative investment objective.

iPath S&P GSCI Crude Oil Tr ETN (OIL) is designed to provide exposure to the S&P GSCI Crude Oil Return Index. The index reflects the returns available through an unleveraged investment in the West Texas Intermediate (WTI) crude oil futures contract.

If you were sold this investment with the belief that it was a low risk investment that was suitable for your portfolio, you may be able to recover damages for any losses you have suffered. Call to speak with an experienced securities attorney.

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