Lowell Company Sued For Exchanged Traded Fund Trading Misconduct
Jody Bryant Bowers of Abilene Texas a stockbroker formerly employed by Lowell Company Inc. is referenced in a customer initiated investment related arbitration claim where the customer sought between $100,000.00 and $500,000.00 in damages supported by accusations that (1) exchanged traded funds had been misrepresented and (2) the customer was provided with bad investment recommendations during the period in which Bowers was employed by Lowell Company Inc. Financial Industry Regulatory Authority (FINRA) Arbitration No. 19-01699 (July 17, 2019).
This is not the first time that Bowers has been subject of a customer dispute in regard to his alleged misconduct. Specifically, a customer initiated investment related arbitration claim concerning Bowers’ activities was resolved for $375,000.00 in damages founded on allegations that unsuitable exchange traded funds had been executed by the stockbroker; and the customer was exposed to undue risks because of an overconcentration of exchange traded funds in the customer’s account. FINRA Arbitration No. 17-03223 (July 16, 2019).
FINRA Public Disclosure also confirms that Bowers has been terminated from a securities broker dealer for cause. Specifically, he was employed by First Heartland Capital Inc., who discharged him based upon accusations that Bowers, inter alia: effected transactions with a customer of the firm without procuring the securities broker dealer’s permission; received payments from a customer for an outside entity which he controlled; and engaged in undisclosed outside business activities.
Bowers’ employment with Lowell Company Inc. has been terminated as of June 8, 2018.