Investors Allege Sales Practice Violations By Securities Broker Chris Shaw (Kalos Capital, Pruco Securities)

According to the Financial Industry Regulatory Authority (FINRA), securities broker Christopher John Shaw “Chris Shaw” (CRD#: 5011382, Belmont, North Carolina) is involved in investor disputes. The securities broker worked for Blackbird North America, Kalos Capital, Kalos Management, Pruco Securities, Prudential Financial Planner Services, Newbridge Securities Corporation, and Newbridge Financial Services Group. However, the investor disputes focus on Shaw’s actions at Kalos Capital and Pruco Securities. Here’s more about what these investors allege.

Kalos Capital Client Alleges Breach Of Contract, Breach Of Fiduciary Duty In Dispute About Chris Shaw

Specifically, a client of Kalos Capital brought a FINRA Arbitration Claim about Chris Shaw in March 2021. First of all, the client contends that Shaw breached a contract and breached a fiduciary duty. Secondly, Shaw allegedly acted negligently. Thirdly, the securities broker supposedly recommended unsuitable investments. More particularly, the client invested in non-traded REITs and direct investments (DPPs, LPs). Those products were illiquid, risky, and complex investments, the client argued. It appears that Kalos Capital resolved this matter by making a $25,000 payment to the client in June 2021.

Kalos Capital Client Alleges North Carolina Securities Law Violations In Connection With Shaw’s Alternative Investment Sales

Notably, a client of both Pruco Securities and Kalos Capital filed a FINRA Arbitration Claim regarding Chris Shaw. It appears in this March 2021 matter that Shaw or the securities firms allegedly violated North Carolina securities law. In addition, Shaw and those firms supposedly acted in breach of contract and breach of fiduciary duty. Additional accusations include unsuitable investment recommendations and misrepresentation concerning a private placement. Because of this, the client asked for compensation. The firms resolved this in June 2021 by compensating the client in the amount of $14,125.

Pruco Securities Client Alleges Unsuitable GPB Capital Recommendations By Chris Shaw

Moreover, a client of Pruco Securities took issue with Chris Shaw’s recommendations of GPB Capital. Allegedly, in this December 2020 FINRA Arbitration Claim, Shaw provided unsuitable advice regarding this alternative investment. By investing in this security, the client supposedly sustained losses or damages. For this reason, they sought and obtained $50,000 in compensation through a January 2021 settlement with Pruco Securities and Kalos Capital.

Pruco Securities Disaffiliates With Shaw

It appears that Pruco Securities disaffiliated with Chris Shaw in September 2020. Notably, the securities firm alleged that Shaw made discretionary trades. In addition, Pruco Securities alleged that Shaw marked trades as unsolicited when he seemed to solicit them.

Kalos Capital’s August 2020 Settlement Of A Dispute About Chris Shaw’s Alternative Investment Sales

Moreover, a client of Kalos Capital disputed Chris Shaw’s actions regarding oil and gas securities and real estate securities. Specifically, the client contended in the July 2019 lawsuit that the investments did not match their suitability profile. Allegedly, given the allegations of unsuitable alternative investments, Kalos Capital opted to settle this matter by compensating the client in the amount of $175,000 in August 2020.

Losses By Investing With Shaw?

Apparently, securities broker Chris Shaw denies allegations of sales practice violations. Have you experienced investment losses by interacting with this broker? If so, reach out to Soreide Law Group at (888) 760-6552 and speak with experienced counsel concerning a possible recovery. Soreide Law Group represents clients on a contingency fee basis and advances all costs. The law firm has recovered substantial compensation for US clients who have experienced losses from their securities brokers and financial advisors.

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