Tag Archives: stockbroker negligence

Cambridge Investment Research, Failure to Supervise, Finra Investigation of Stockbroker, Fraud, Misrepresentation, Stockbroker Discharged, Stockbroker Malpractice, StockBroker Misconduct, Theft

Lynn Cawthorne-Cambridge Investment Research Broker- Charged With Wire Fraud-Shreveport, LA

October 2020- Shreveport, LA

Shreveport Times photo of Lynn Cawthorne

According to publicly available records, Lynn Dale Cawthorne, a former broker who last worked for Cambridge Investment Research  has been charged in the U.S. District Court for the Western District of Louisiana with conspiracy to commit wire fraud, a felony. Link to US Atty Office press release. 

FINRA suspended Cawthorne’s license to sell securities in 1/2020. In 8/2020 FINRA filed a complaint alleging that Cawthorne failed to comply with requests for information in connection with an investigation into his failure to disclose multiple felony charges.  In addition to the wire fraud charges it is alleged that Cawthorne misappropriated $536,000 from a government program that provided meals to children in low income areas.

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 9/2018 Cawthorne was discharged by Cambridge Investment Research where he had been employed since 4/2013. Cawthorne discloses affiliations with Advocare, Goodwill Industries, Christian Services and Cawthorne Financial Group, all located in Shreveport.

If you have losses in an account handled by Lynn Cawthorne, call 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

Kalos Capital, Stockbroker Malpractice, StockBroker Misconduct, Unsuitable Investments

Christopher Shaw- Former Kalos Capital Broker-Discloses Pending Customer Disputes-Charlotte, NC

October 2020-Charlotte, NC

According to publicly available records,  Christopher Shaw (CRD#5011382), a  stockbroker who was previously registered with  Pruco Securities & Kalos Capital,  discloses 3 pending customer disputes, a prior final customer dispute 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.

In 4/2020 a customer of Kalos Capital filed FINRA case 20-1214 alleging that they did not qualify as an accredited investor and has no recollection of reviewing or signing the subscription documents. The customer seeks damages of $90,000 and the case is still pending.

In February of 2020,  a customer of Shaw’s previous employer , Kalos Capital Inc., filed FINRA case #20-00661 alleging that Shaw engaged in misrepresentation and unsuitable recommendations and is seeking damages of $500,000.   The case is still pending.

In November of 2019, a  Kalos Capital, Inc. customer filed FINRA case #19-03047 alleging breach of fiduciary duty and unsuitable investments and is seeking damages of $350,000. This case is pending.

In May of 2019, another Kalos Capital, Inc. customer filed FINRA case #19-01140 alleging unsuitable investments in alternative securities between November of 2012 and May of 2017 seeking  damages of $450,000.   That case was settled for $175,000 in 8/2020.

Shaw has been employed by Pruco Securities since May of 2019. Before that time he was employed with CJS Wealth Management, Clear Markets North America, Kalos Capital, Inc.,  Blackbird North America and Blackbird Europe.   

If you had an account with Christopher Shaw  that suffered losses, you may be entitled to collect damages from his prior employer. Call to discuss your 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

Finra Investigation of Stockbroker, Stockbroker Malpractice, StockBroker Misconduct, Thrivent Investment Management, Unsuitable Investments

Thomas Studer- Thrivent Investment Managment Broker-Permanently Barred from FINRA- The Villages, TX

June 2020- The Villages, TX

According to publicly available records, former Thrivent Investment Management, Inc.,  financial advisor Thomas Struder,  has been barred from the securities industry by FINRA.

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 2019  in FINRA case 2018060478101 Studer was  permanently barred from the securities industry to resolve allegations that he failed to follow procedures regarding power of attorney documentation that resulted in the firm facilitating a transaction by an individual who was not an authorized representative on the account.

Studer  was employed by Thrivent Financial and Thrivent Investment Management, Inc.  from June of 2014 until 11/2018.

If you have losses in an account handled by Thomas Studer, call 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

Capital Financial Services, KCD Financial, Stockbroker Malpractice, StockBroker Misconduct, Unsuitable Investments

Mark Sitter-Former Capital FInancial Services Broker-Discloses $500K Pending Customer Dispute- Shenandoah, TX

October 2020- Shenandoah, TX

According to publicly available records,  Mark Sitter (CRD#1810591), a  stockbroker formerly employed by Capital Financial Services, discloses a pending customer dispute and 3 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 March of 2019 FINRA case #19-00655 was filed by a Capital Financial Services, Inc., customer alleging misrepresentation, breach of fiduciary duty and failure to supervise  and is seeking damages of $500,000.    This case is still pending.

In 11/2017 a customer of Capital Financial Services filed an arbitration seeking $100,000 and alleging that Sitter misrepresented the nature of an investment that was unsuitable. The case was settled for $72,000.

Sitter has been employed by KCD Financial, Inc. since August of 2019.   Before that time he was with Capital Financial Services, Inc and Merrill Lynch, Pierce, Fenner & Smith.  

If you had an account with Mark Sitter  that suffered losses, you may be entitled to collect damages from his prior employer. Call to discuss your 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

Oppenheimer, Stockbroker Malpractice, StockBroker Misconduct, Unsuitable Investments

Jesse Webb-Oppenheimer & Co. Broker-Discloses Regulatory Event, 3 Settled Customer Disputes and a Termination-The Woodlands, TX

October 2020-The Woodlands, TX

According to publicly available records of Jesse Webb (CRD#2298761) ,  a  stockbroker with Oppenheimer & Co. lnc., discloses  a final regulatory event , 3 settled 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.

NOT EXACTLY SURE WHO FILED THIS-ALL IT SAYS IS MICHIGAN.

In September of 2018, Michigan Securities regulators filed administrative case #337223 and alleged “the Administrator intends to deny the securities application of Jesse Lynn Webber because applicant engaged in dishonest or unethical behavior in the securities industry within the previous ten years, which supports the denial of his registration application “. Webb’s application for securities broker registration was denied by the state of Michigan 10/2018.

In October of 2015, FINRA case #15-00167 was filed by a Merrill Lynch, Pierce, Fenner & Smith customer alleging unsuitable investment recommendations from 2008 until 2012.  Claimant also alleged damages suffered due to losses in Social Security and Medicare Benefits.   The case was settled for $35,000.

In April of 2010, FINRA case #10-01707 filed by a customer of Merrill Lynch, Pierce, Fenner & Smith alleged unauthorized trading and misrepresentation regarding auction rate securities from June to September of 2008.    The case was settled for $2,400,000.

In April of 2009, FINRA case # 09-03605 filed by a customer of Merrill Lynch, Pierce, Fenner & Smith alleged misrepresentation and unsuitable investment recommendations.   This case settled for $1,818,750.

In January of 2012 Webb was allowed to resign from Merrill Lynch after allegations that he had engaged in a purported real estate transaction outside the firm with a client without management’s prior knowledge or consent.

Webb  has been employed by Oppenheimer & Co, Inc.  since January of 2012.

If you had an account with Jesse Webb  that suffered losses, you may be entitled to damages . Call to discuss your 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