Securities Lawyers Blog

Broker Robert Obraitis in Purshe Kaplan Sterling Investments Firm Has Customer Complaint

July 28, 2025 | by Staff Attorney

According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Robert Obraitis (Obraitis), currently associated with Purshe Kaplan Sterling Investments, has at least one disclosable event. These events include one customer complaint, alleging that Obraitis recommended unsuitable investments in different investment products including debt securities among other allegations and complaints.

FINRA BrokerCheck shows a pending customer complaint with a damage request of $50,000.00 on April 27, 2025.

Client alleges RR mismanaged their account and participated in market manipulation.

Broker Robert Loeb in Purshe Kaplan Sterling Investments Firm Has Customer Complaint

July 28, 2025 | by Staff Attorney

According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Robert Loeb (Loeb), currently associated with Purshe Kaplan Sterling Investments, has at least one disclosable event. These events include one customer complaint, alleging that Loeb recommended unsuitable investments in different investment products including debt securities among other allegations and complaints.

FINRA BrokerCheck shows a pending customer complaint with a damage request of $1,030,000.00 on April 24, 2025.

Client alleges that the rep breached his fiduciary duty by failing to protect her from being scammed by a third party. The client initiated transactions to sell stock with the rep. \, The client in turn used the proceeds to purchase gold that she then delivered to the 3rd party that was scamming her

There are Recent Customer Complaints with Broker John Woods in Firm Oppenheimer & CO. INC.

July 28, 2025 | by Staff Attorney

According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker John Woods (Woods), previously associated with Oppenheimer & CO. INC., has at least one disclosable event. These events include one customer complaint, alleging that Woods recommended unsuitable investments in different investment products including debt securities among other allegations and complaints.

FINRA BrokerCheck shows a pending customer complaint with a damage request of $500,000.00 on April 24, 2025.

Former FAs allegedly conducted a Ponzi Scheme; Failure to Supervise; Violation of FINRA Rules; Breach of Fiduciary Duty; Respondeat Superior/Agency by Estoppel. From 2013 to 2021

Broker Timothy Darragh in Stifel, Nicolaus & Company, Incorporated Firm Has Customer Complaint

July 28, 2025 | by Staff Attorney

According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Timothy Darragh (Darragh), currently associated with Stifel, Nicolaus & Company, Incorporated, has at least one disclosable event. These events include one customer complaint, alleging that Darragh recommended unsuitable investments in different investment products including debt securities among other allegations and complaints.

FINRA BrokerCheck shows a pending customer complaint on April 25, 2025.

Claimants allege breach of fiduciary duty, negligence, unjust enrichment, violation of The Illinois Consumer Fraud and Deceptive Practices Act, and trust accounting.

Broker Kevin Shields in Foreside Fund Services, LLC Firm Has Customer Complaint

July 28, 2025 | by Staff Attorney

Currently financial advisor Kevin Shields (Shields), currently employed by brokerage firm Foreside Fund Services, LLC has been subject to at least one disclosable event. These events include one customer complaint. According to a BrokerCheck reports most of the recent customer complaints concern either corporate debt securities or alternative investments such as direct participation products (DPPs) like business development companies (BDCs), non-traded real estate investment trusts (REITs), oil & gas programs, annuities, and private placements. The attorneys at Gana Weinstein LLP have represented hundreds of investors who suffered losses caused by these types of high risk, low reward products.

FINRA BrokerCheck shows a pending customer complaint with a damage request of $450,000.00 on April 28, 2025.

Alleged misleading facts/statements regarding client’s investment in non-traded REIT as well as breach of fiduciary duty. Neither Kevin Shields nor Griffin Capital Securities, LLC, its employees or affiliates make recommendations to end investors and have no record of [REDACTED] investing in the named investment. Griffin Capital Securities, LLC and Kevin Shields believe they were named erroneously in the suit.

There are Recent Customer Complaints with Broker Daniel Stephans in Firm Osaic Fa, INC.

July 28, 2025 | by Staff Attorney

According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Daniel Stephans (Stephans), previously associated with Osaic Fa, INC., has at least one disclosable event. These events include one customer complaint, alleging that Stephans recommended unsuitable investments in different investment products including debt securities among other allegations and complaints.

FINRA BrokerCheck shows a pending customer complaint with a damage request of $5,000.00 on April 23, 2025.

Customer alleges that REIT was misrepresented at the time of purchase.

There are Recent Customer Complaints with Broker Yilun Liu in Firm Morgan Stanley

July 27, 2025 | by Staff Attorney

The attorneys at Gana Weinstein LLP are investigating BrokerCheck records reports that Broker Yilun Liu (Liu), currently employed by Morgan Stanley has been subject to at least one disclosable event. These events include one customer complaint. According to records kept by The Financial Industry Regulatory Authority (FINRA), Liu’s most recent customer complaint alleges that Liu recommended unsuitable investments in structured products and makes allegations concerning misconduct relating to the handling of the customer’s accounts.

FINRA BrokerCheck shows a pending customer complaint with a damage request of $640,000.00 on May 01, 2025.

Claimant alleges, inter alia, that the options trading and structured product investment strategy recommended to him was not in his best interests – Dec 2024 to April 2025

There are Recent Customer Complaints with Broker Richard Wick in Firm Northwestern Mutual Investment Services, LLC

July 27, 2025 | by Staff Attorney

According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Richard Wick (Wick), previously associated with Northwestern Mutual Investment Services, LLC, has at least 2 disclosable events. These events include 2 customer complaints, alleging that Wick recommended unsuitable investments in different investment products including debt securities among other allegations and complaints.

FINRA BrokerCheck shows a pending customer complaint with a damage request of $83,000.00 on May 01, 2025.

The customer purchased four life insurance policies in or around October 2021, which included three variable universal life insurance policies. The customer alleges the Representative misrepresented the policies’ terms and the impact of loans on the policies; did not inform the customer of fees associated with the policies; and offered to reimburse the customer personally.

There are Recent Customer Complaints with Broker April Pruitt in Firm Edward Jones

July 27, 2025 | by Staff Attorney

According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker April Pruitt (Pruitt), currently associated with Edward Jones, has at least one disclosable event. These events include one customer complaint, alleging that Pruitt recommended unsuitable investments in different investment products including debt securities among other allegations and complaints.

FINRA BrokerCheck shows a pending customer complaint with a damage request of $10,000.00 on April 28, 2025.

Power of attorney for client alleges the financial advisor misrepresented the tax implications from liquidating an annuity. POA alleges the client would not have liquidated the annuity or attempted to liquidate to harvest losses but for this advice and is requesting compensation.

Broker Carrie Bellamy in Edward Jones Firm Has Customer Complaint

July 27, 2025 | by Staff Attorney

According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Carrie Bellamy (Bellamy), currently associated with Edward Jones, has at least one disclosable event. These events include one customer complaint, alleging that Bellamy recommended unsuitable investments in different investment products including debt securities among other allegations and complaints.

FINRA BrokerCheck shows a pending customer complaint with a damage request of $27,000.00 on May 01, 2025.

The client and his son allege investments in Emerge Energy Svcs in January 2015 and Stonemor Partners in June 2016 were too aggressive and did not support their investment goals.