Articles Tagged with Shearson Lehman Hutton

Larry Wolfe, a former registered representative with Herbert J. Sims, was recently terminated by the firm for alleged exercised discretion, in a non-discretionary account, in making trades for an account without speaking with the client before the trades. He was also alleged to have made unauthorized trades, unsuitable investment recommendations, fraudulent misrepresentations and omissions of material information. These are all against securities rules. If you or someone you know invested money with Larry Wolfe, please call our Chicago-based securities law firm today to speak to an attorney for free. We can discuss your options of suing his former firm, Herbert J. Sims, in the Financial Industry Regulatory Authority (FINRA) arbitration forum on a contingency fee basis to recover your financial losses. The firm had a duty to reasonably supervise Wolfe while he was employed there, and they did not, so they can be liable for losses.

According to his FINRA BrokerCheck report, Wolfe was registered with Swanton Securities, Hannauer, Stern & Co., Befill, Bresler & Schulman Inc., Drexel Burnham Lambert Inc., EF Hutton & Co., Shearson Lehman Hutton, Raymond James, The GMS Group, Herbert J. Sims in Boca Raton, Florida from March 2000 until January 2016 and Aegis Capital. He is currently registered with Stoever, Glass & Co. in Boca Raton and has been since May 2015. He has eight customer disputes against him, one of which is currently pending.

According to Financial Industry Regulatory Authority (FINRA) records, Dennis Merritt, a former JW Cole Financial broker in Clearwater, Florida, was suspended from the industry for four months. The disciplinary action stated that Merritt recommended unsuitable investments to clients, into which the clients put $115,000. Allegedly, when Merritt recommended the investments, he had not conducted adequate due diligence into whether the company was suitable for any client and he had no reasonable basis to recommend that investment to any client. He never reviewed the company’s financial projections, did not conduct research on its product, did not obtain information on its executives and did not request, obtain or review documents that had to do with the company. Merritt also falsely affirmed that he was complying with the firm’s private securities transactions policy. A broker must do his due diligence on any security that he recommends to his clients. If he does not, his firm may be responsible for investment losses.

Merritt was registered with EF Hutton & Company, Shearson Lehman Hutton, Empire National Securities Inc., Citicorp Financial Services, Citicorp Investment Services, Kemper Financial Services, Nationssecurities, Amsouth Investment Services, Morgan Keegan & Company, Wells Fargo Advisors, Cetera Investment Services and JW Cole Financial Inc. in Clearwater, Florida from March 2014 until June 2016. He is not licensed within the industry. Please call our securities law offices in Chicago today to speak to an attorney about your options of suing JW Cole, Merritt’s former firm, for investment losses. We take cases on a contingency fee basis. The call to us is free so please call today.

Did you lose money with Robert Child of National Securities? If so, the securities attorneys at Stoltmann Law Offices are interested in speaking with you about your options of suing National Securities in the Financial Industry Regulatory Authority (FINRA) arbitration forum. We sue firms on a contingency fee basis so we only make money if you recover yours. National Securities has a duty to reasonably supervise Robert Child, and, if the firm does not, can be held liable for investment losses. Please call 312-332-4200 today. The call is free with no obligation.

Child is accused of making unsuitable investment recommendations, acting negligently, breaching fiduciary duty, and misrepresenting material facts, among other things. These are all against securities rules and regulations. Child was registered with JB Hanauer & Co., Smith Barney, Harris Upham & Co., EF Hutton & Co., Shearson Lehman Hutton, Prudential Securities, UBS Painewebber, and VFinance Investments. He is currently registered with National Securities Corp in Boca Raton, Florida and has been since November 2012. He has 13 customer complaints against him, three of which are currently pending.

Stoltmann Law Offices continues to investigate Royce O. Simpson, a former stockbroker with Oppenheimer & Co., who has two customer disputes against him. A Financial Industry Regulatory Authority (FINRA) investigation against him resulted in an eight-month suspension for Simpson and a fine of $15,000 to resolve allegations that he loaned money to a gold mining operation in Ghana, Africa. His firm, Oppenheimer, had denied him his request to participate in this outside business activity. The New Mexico Securities Division also instituted a case against him for alleged unsuitable recommendations in long-term U.S. agency bonds. The matter is still pending. A client brought a case against him while he was registered with UBS Financial Services, and alleged damages of $659,458 for overcharges on certain bond transactions.

Simpson was registered with Dover Group, First Ohio Securities, Shearson Lehman Hutton, Rotan Mosle Inc., Painewebber, HSBC Securities, Rodman & Renshaw, Everen Securities, JC Bradford & Co., UBS and Oppenheimer in Houston, Texas from November 2011 until February 2014. He has two customer disputes against him. If you would like to bring a claim against Royce O. Simpson, please call our securities law firm at 312-332-4200 to speak to an attorney. We take cases on a contingency fee basis.

Stoltmann Law Offices is investigating Kenneth Bolton, a current broker-dealer at Sandlapper Securities in Greenville, South Carolina. According to his Financial Industry Regulatory Authority (FINRA) BrokerCheck, Bolton allegedly breached fiduciary duty, misrepresented and omitted material facts, recommended unsuitable investments, and executed unauthorized trades, among other transgressions. Bolton was registered with the following firms: American Eagle Securities, First Investors Corporation, E.F. Hutton & Co., Oppenheimer & Co., Shearson Lehman Hutton, Smith Barney, Reich & Co., Fahnestock & Co., First Montauk Securities and National Securities Corp. He is currently registered with Sandlapper in Greenville, South Carolina and has been since December 2011. He has 10 customer disputes against him, one of which is currently pending.

If you invested money with Kenneth Bolton, please call our securities law firm in Chicago, Illinois for a free consultation with an attorney. 312-332-4200. We sue firms such as Sandlapper in the FINRA arbitration forum to recover money for investors. We take cases on a contingency fee basis only.

Stoltmann Law Offices is interested in hearing from investors who may have invested money with Anil Jethmal, a Newbridge Securities brokers in Ft. Lauderdale, Florida. Jethmal is accused of misrepresenting and omitting material facts related to an investment, engaging in unauthorized use of margin, making unauthorized trades, churning and other violations. Churning is excessive trading in a customer account in order to generate commissions for the broker. It is illegal. Jethmal was registered with Shearson Lehman Hutton, Gruntal & Co., Lehman Brothers, Smith Barney Inc., Nichols Safina Lerner & Co., R.D. White & Co. Solid ISG Capital Markets, Gilford Securities Inc. Investprivate Inc., Westrock Advisors Inc., Summit Brokerage Services and is currently registered with Newbridge Securities and has been since March 2011. He has five customer disputes against him. His firm, Newbridge, can be sued for financial losses because they had a duty to reasonably supervise him while he was employed there. Please call us at 312-332-4200 to speak with an attorney if you would like to bring a claim against Newbridge Securities. The call is free with no obligation.

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