Wells Fargo Accused Of Defective Options Strategy
Lary Douglas Bloom of Woodland Hills California a stockbroker currently registered with Wells Fargo Clearing Services LLC is referenced in a customer initiated investment related complaint on July 23, 2019 in which the customer requested $125,000.00 in damages founded on accusations that (1) the customer had been inappropriately advised by Bloom in regard to an options trading investment strategy and (2) unfounded statements or omissions had been made by the stockbroker concerning the risks of the strategy between September 6, 2018 and July 10, 2019.
Financial Industry Regulatory Authority (FINRA) confirms that this is not the first time that Bloom has been subject of a dispute from a customer of his. Specifically, a customer initiated investment related complaint involving Bloom’s activities was resolved for $35,000.00 in damages based upon allegations that during the time that Bloom was associated with Wachovia Securities LLC (now known as Wells Fargo), the customer was provided misrepresented or false information concerning the characteristics and risks of warrants purchased for the customer’s account.
Bloom has been registered with Wells Fargo Clearing Services LLC since December 3, 2004.