Edward Jones Sued By Investors For Breach of Fiduciary Duty
Larry Don Graham Jr. (also known as Donny Graham) of Duncan Oklahoma a stockbroker formerly associated with Edward Jones has been referenced in a customer initiated investment related arbitration claim in which the customer requested $228,515.38 in damages supported by allegations that (1) fiduciary duties which had been owed to the customer were breached (2) the customer’s account was mismanaged by the stockbroker (3) contractual obligations had not been complied with and (4) unauthorized disbursements were effected from the customer’s account when Graham was employed by Edward Jones. Financial Industry Regulatory Authority (FINRA) Arbitration No. 18-03607 (Oct. 16, 2018).
FINRA Public Disclosure reveals that Graham is referenced in two more customer initiated investment related disputes containing allegations of his wrongdoing while associated with Edward Jones. Specifically, a customer initiated investment related arbitration claim involving Graham’s conduct resulted in the customer being awarded compensatory damages based upon Graham being found liable on the customer’s claims which included that when Graham was associated with Merrill Lynch, Pierce, Fenner and Smith Inc., misrepresentations were made to the customer regarding the risks or other details of stocks traded by the stockbroker.
An additional customer initiated investment related complaint concerning Graham’s activities has been resolved for $8,833.50 in damages on October 6, 2015 founded on accusations that when Graham was employed by Edward Jones, tax implications relating to the exchanges of the customer’s American Funds holdings had not been disclosed by the stockbroker. Graham’s registration with Edward Jones has been terminated as of March 7, 2019. Since March 5, 2019, the stockbroker has been registered with Ameriprise Financial Services Inc.