Securities Lawyers Blog
Securities attorneys at Gana Weinstein LLP have been investigating Raymond James & Associates, Inc. (Raymond James) broker Thomas O’Brien (O’Brien). According to BrokerCheck records, O’Brien has been subject to three customer disputes, one of which is still pending. The majority of these disputes involve the misrepresentation and unsuitable recommendation of annuities.
Most recently, in November 2017, customers alleged that from January 2001 to present, O’Brien engaged in fraudulent representation of investments, over-concentration of investments, and failure of the firm to properly supervise O’Brien’s activities. The customer is requesting $5,000,000 in damages. This dispute is still pending.
In September 2006, a customer alleged that O’Brien falsely represented an annuity purchase to the customer by failing to disclose crucial information that the investor can’t withdraw funds from his annuity investment. The customer requested $5,000 in damages.