Investors Sue JP Morgan Securities For Misrepresentation
Jerry Michael Rayburn of Lake Grove New York a stockbroker currently registered with J.P. Morgan Securities LLC is the subject of a customer initiated investment related arbitration claim in which the customer sought $74,927.40 in damages founded on accusations that (1) misrepresentations had been made to the customer concerning the customer’s investments in mutual funds and municipal bonds and (2) mutual fund trades were not suitable for the customer. Financial Industry Regulatory Authority (FINRA) Arbitration No. 18-01916 (May 15, 2018).
FINRA Public Disclosure additionally confirms that on April 20, 2005, a customer filed an investment related complaint concerning Rayburn’s conduct where the customer requested unspecified damages based upon allegations that while Rayburn was associated with American Express Financial Advisors Inc., investment strategies were implemented in the customer’s account involving investments in mutual funds and annuity products; however, those strategies were not suitable given the customer’s financial needs, and those strategies led the customer to suffer significant losses.
Rayburn has been employed by J.P. Morgan Securities LLC since October 1, 2012.