Securities Lawyers Blog
According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Katherine Carter (Carter), currently associated with American Century Investment Services INC., has at least one disclosable event. These events include one customer complaint, alleging that Carter recommended unsuitable investments in different investment products including debt securities among other allegations and complaints.
FINRA BrokerCheck shows a settled customer complaint with a damage request of $700,000.00 on March 13, 2024.
These are the factual allegations from the Customer’s Statement of Claim submitted to Arbitration: On June 25, 2021, Customer made a significant investment in a company called Alfi through his TOD account with the Firm. That day, Customer also had a lengthy discussion with Representative Carter and alleges that he decided not to purchase any additional Alfi stock in his IRA because Alfi stock was already up 40% that trading day. Representative Carter said that she would call Customer if anything changed with the price of the stock. Allegedly without authorization, Representative Carter purchased more than $700,000 worth of Alfi at $18.49 in Customer’s IRA. Representative Carter never called Customer regarding the purchase. Shortly after the purchase, Customer was in a significant motorcycle accident requiring months of recovery, and, it wasn’t until after Alfi collapsed that Customer allegedly learned of the purchase.