Titan Securities Sued By Investors For Selling Unregistered Investments
Rodger Sprouse of Overland Park Kansas a stockbroker currently employed by Titan Securities of Addison Texas (CRD No. 131392) of is the subject of an investment related civil action in the Circuit Court of Jackson County Missouri where the investor sought $210,000.00 in damages based upon accusations that Sprouse sold the investor a structured cash flow investment through an undisclosed outside business activity during the time that Sprouse was associated with Titan Securities. Civil Action No. 1916-CV02401 (Feb. 20, 2019).
Financial Industry Regulatory Authority (FINRA) Public Disclosure reveals that Sprouse has been identified in four additional customer initiated investment related disputes containing allegations of Sprouse’s misconduct during the time that he was associated with Titan Securities, Stonehurst Securities and Evolve Securities. Specifically, on December 5, 2011, a customer initiated investment related complaint regarding Sprouse’s conduct was resolved for $46,748.60 in damages supported by accusations that while Sprouse was associated with Stonehurst Securities, Sprouse placed the customer into an unsuitable life settlement within the customer’s profit sharing plan.
Thereafter, a customer filed an investment related complaint concerning Sprouse’s conduct in which the customer requested $210,365.95 in damages founded on allegations that the customer was placed into bad investments, including a business development company, real estate security, insurance policy and equipment leasing product, during the time Sprouse was associated with Titan Securities. On May 1, 2013, another customer filed an investment related complaint involving Sprouse’s activities where the customer sought $100,000.00 in damages based upon accusations that while Sprouse was associated with Evolve Securities, omissions had been made concerning the terms and provisions of a Life Partners Inc. viatical settlement transaction entered into by the customer.
Moreover, on January 10, 2014, a customer filed an investment related complaint concerning Sprouse’s conduct in which the customer requested $59,000.00 in damages supported by allegations that the customer experienced unwarranted investment losses when liquidating a Life Partners Inc. investment.
Sprouse has been registered with Titan Securities since January 3, 2011. Sprouse’s former employer, Stonehurst Securities, was expelled from FINRA membership founded on accusations of the firm’s failure to pay a $25,000.00 fine imposed by FINRA for the firm’s sale of unregistered private placements to investors and the firm’s failure to supervise its business practices to ensure compliance with Securities Act of 1933; conduct violative of Conduct Rules 3010 and 2110.. Letter of Acceptance Waiver and Consent No. 20070071906-01.