The securities attorneys at Gana Weinstein LLP have been investigating J.P. Morgan Securities LLC (J.P. Morgan) broker Jeffrey Mcaleney (Mcaleney). According to BrokerCheck Records, Mcaleney has been subject to 10 customer disputes, the majority of which concern unsuitable equity, preferred stock, funds, and limited partnership investments.
In October 2017, a customer alleged that from 2007 to 2016, Mcaleney recommended investments that were unsuitable because they were contrary to the customer’s stated goals. The customer requested $313,909.22 in damages.
In October 2017 another customer similarly alleged that from 2014 to 2016, Mcaleney was recommending unsuitable investments that didn’t align with the customer’s needs and goals.
In March 2014, a customer alleged that Mcaleney placed the customer into risky high-yield closed-end funds, equities, and preferred stocks which were risky and volatile and unsuitable to the customer. The customer also alleged that the portfolio was over-concentrated and that the risks of the investment weren’t properly disclosed. The customer requested $200,000 in damages. Continue Reading