Investors reportedly complained about securities broker Derrick Timothy Watts [CRD: 2479608, Chicago, Illinois], according to public information reported on FINRA BrokerCheck. Derrick Watts joined Packerland Brokerage Services Inc. in Chicago, Illinois as both a securities broker and a financial advisor in January 2020. Before that, Watts worked with B. Riley Wealth Management in St. Charles, Illinois from September 2, 2016 to October 25, 2019, in a securities broker capacity, and from September 8, 2016 to May 4, 2021, as a financial advisor. Read on to know more about the investor disclosures involving this broker.
Particularly, on March 1, 2024, a B. Riley Wealth Management client filed FINRA Arbitration No. 24-00479 about Derrick Watts. Allegedly, Watts made misrepresentations concerning a proposal to invest. As a result, the client allegedly incurred damages connected to private placements including Bet Chicago securities. So, the client requested $3,000,000 in compensation from B. Riley Wealth Management or Watts. Evidently, this arbitration is pending a resolution.
Also, a client of Oppenheimer Co. Inc. contested Derrick Watts’s sales practices, according to a complaint dated September 6, 2017. Supposedly, Watts churned the client’s account by trading in stocks. Consequently, the client sought compensation from Oppenheimer Co. Inc. or Watts in the amount believed to be over $5,000 in this matter. The complaint was later withdrawn.
Also, on February 1, 2016, an Oppenheimer Co. Inc. client filed a complaint about Derrick Watts. Allegedly, Watts churned accounts. For this reason, the client allegedly sustained damages linked to mutual funds and over-the-counter equities. Therefore, the client requested $32,914.56 in compensation from Oppenheimer Co. Inc. or Watts. The firm denied this complaint.
Are you concerned regarding investments you made with Derrick Watts? If so, reach out to Soreide Law Group online or at (888) 760-6552. Speak with a securities lawyer about a potential recovery. Soreide Law Group is experienced at recovering losses for investors throughout the United States. Also, the firm works on a contingency fee basis and advances all costs. Watts and brokerage firms Watts worked for deny allegations of sales practice violations.
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