The attorneys at Gana Weinstein LLP are investigating BrokerCheck records reports that financial advisor James Crosson (Crosson), currently employed by Lincoln Financial Securities Corporation (Lincoln Financial) and formerly with Voya Financial Asvisors, Inc. (Voya Financial) has been subject to at least four customer complaints, and one termination for cause. According to records kept by The Financial Industry Regulatory Authority (FINRA), Crosson’s customer complaints alleges that Crosson recommended unsuitable investments in a stock called Castle Brands (Ticker Symbol: ROX) among other allegations of misconduct relating to the handling of their accounts.
Castle Brands purports to be a developer and international marketer of premium and super premium beverage alcohol brands including rum, whiskey/bourbon, liqueurs, vodka and tequila, which are marketed and sold in the United States, Canada, Europe, Latin America and Asia. The stock appears to be a risky penny stock with a market capitalization of little more than $200 million.
In July 2019 a customer complained that Crosson violated the securities laws by alleging that the risks associated with purchasing Castle Brands stock was misrepresented and the amount invested in the stock was excessive. The claim alleges $85,000 in damages and settled for $11,196.
In July 2019 a customer complained that Crosson violated the securities laws by alleging that the risks associated with purchasing Castle Brands stock was misrepresented. The claim alleges $39,703 in damages and is currently pending.
In April 2019 Crosson was discharged from Voya Financial after the firm alleged that Crosson discussed one customer’s complaint with another customer.