Wells Fargo Sued By Customer For Suitability

Jeffrey Randolph Wilson of Las Cruces New Mexico is a stockbroker currently registered with Wells Fargo Clearing Services that is subject of a customer initiated investment related arbitration claim in which the customer sought at least five thousand dollars in damages founded on accusations that Flaum made unsuitable investment recommendations to the customer regarding energy-sector securities. FINRA Arbitration No. 17-02235 (Aug. 22 2017).

FINRA Public Disclosure reveals that Flaum has been identified in three additional customer initiated investment related disputes containing allegations of Flaum’s misconduct during the time he was employed with Wells Fargo Advisors, LLC. Particularly, a customer initiated investment related written complaint pertaining to Flaum’s conduct was settled on October 6, 2016, for $275,000.00 in damages based upon accusations that between June 4, 2014 and December 7, 2015, over-the-counter equities transactions were placed in the customer’s account on an excessive and unsuitable basis.

Subsequently, a customer initiated investment related arbitration claim in regards to Flaum’s activities was resolved for $357,000.00 in damages supported by allegations that Flaum made unsuitable investment recommendations and misrepresentations relating to the customer’s investment portfolio. FINRA Arbitration No. 16-01123 (May 3, 2016). Thereafter, on December 1, 2016, a customer initiated investment related written complaint regarding Flaum’s conduct was resolved for $250,000.00 in damages founded on accusations that Flaum executed energy sector investment transactions that were not suitable for the customer between June 1, 2014 and November 1, 2015.

The information contained herein has been obtained from reliable sources however may not be accurate and is not guaranteed by us. Readers are encouraged to undertake their own independent investigation and evaluation of the relevant facts. All claims and allegations are subject to adjudication, decisions may be subject to appeal, and no inference is intended, nor should any inference be made from any information contained herein from any source.

This posting and the information on our website is for general information purposes only. This content should be not considered legal advice, and any responses, comments, e-mails, other communications do not form any attorney client relationship. Attorney Advertisement. See Important Disclaimer

Guiliano Law Group

Our practice is limited to the representation of investors. We accept representation on a contingent fee basis, meaning there is no cost to you unless we make a recovery for you. There is never any charge for a consultation or an evaluation of your claim. For more information, contact us at (877) SEC-ATTY.

For more information concerning common claims against stockbrokers and investment professionals, please visit us at stockbrokerfraud.com

To learn more about FINRA Securities Arbitration, and the legal process, please visit us at securitiesarbitrations.com