dward Jones Sued By Customers Alleging Suitability, Negligence
Soreide Law Group is investigating claims on behalf of those who invested with Edward Jones financial advisors including Joe Alan Green, Krystie Lynn Wear, Edward Hardy Dawkins, Kevin Scott Lake and Regina Sheila Gleghorn.
Edward Jones (CRD#: 250, Saint Louis, Minnesota) is a Financial Industry Regulatory Authority (“FINRA”) registered brokerage firm who has reported, among other things: seventy-one regulatory events concerning Edward Jones’ apparent violations of investment-related regulations or rules; two civil events; and one hundred forty-six FINRA arbitration awards entered against the firm which evidence sales practice violations or the firm’s failure to supervise its registered representatives. Multiple Edward Jones financial advisors, such as Joe Alan Green, Krystie Lynn Wear, Edward Hardy Dawkins, Kevin Scott Lake and Regina Sheila Gleghorn, have disclosed customer-initiated investment-related disputes concerning their alleged deficiencies in the securities industry. Claims asserted against Edward Jones representatives or the firm include, but are not limited to, misrepresentation; omissions; breach of fiduciary duty and even fraud. A summary of those disputes is contained below.
April 7, 2017 Complaint Involving Edward Jones’ Joe Alan Green
Joe Alan Green (CRD#: 2327633, Giddings, Texas) has been a financial advisor for Edward Jones since June 16, 1993. Green disclosed on his FINRA BrokerCheck profile that a customer disputed his sales practices in the filing of an April 7, 2017 complaint. The customer alleged that Green made false or misleading statements in regard to the customer’s fee-based account options. On June 1, 2017, the firm agreed to pay the customer $40,015.78. Records show that Green personally contributed funds towards the settlement of the matter.
May 15, 2017 Civil Action Involving Edward Jones’ Krystie Lynn Wear
Krystie Lynn Wear (CRD#: 5866001, Truth or Consequences, New Mexico) is a financial advisor of Edward Jones. She has been registered with the firm since January 10, 2011. During the course of her employment, her activities led a customer to file lawsuit #D-725-CV-2017-70 on May 15, 2017 in Socorro County District Court. Allegedly, from October 1, 2009 to April 28, 2017, Wear failed to disclose to the customer that an issuer of Wear’s stock had filed bankruptcy. This omission reportedly precluded the customer from being able to mitigate or avoid losses on the customer’s holdings. Therefore, the customer brought claims including breach of fiduciary duty and breach of contract. Wear has requested an undisclosed amount of damages. The litigation is pending.
February 23, 2018 Civil Matter Concerning Edward Jones’ Edward Hardy Dawkins
Edward Hardy Dawkins (CRD#: 4550869, Staunton, Virginia) is presently employed with Edward Jones. On Dawkins’ FINRA BrokerCheck Report, he disclosed that several customers came together to dispute his sales practices by filing Civil Matter #5:18-CV-00046. Customers’ causes of action against Dawkins or Edward Jones include fraud, unsuitability, negligence, breach of fiduciary duty, breach of contract, violations of Virginia State Securities Act. Those customers brought claims against Dawkins or the firm based on their purchases of a Hartford variable annuity rider. In fact, the customers’ have demanded between $100,000.00 and $425,000.00 in compensatory damages because of the alleged fraudulent activities. The matter is still underway.
Customer Disputes Involving Kevin Scott Lake of Edward Jones
Kevin Scott Lake (CRD#: 2907114, Spokane, Washington), who is a financial advisor of Edward Jones since July 29, 1997, reported that two customer disputes have been filed in regard to Lake’s sales practices. In the first complaint, filed on January 20, 2018, a customer claimed that in December 2017, Lake inappropriately instructed the customer to transfer assets from an inherited individual retirement account into an account at a credit union. In so doing, Lake allegedly misrepresented information about the tax consequences that would be incurred by the customer. Records show that on April 3, 2018, Edward Jones resolved the customer’s allegations of misrepresentation by paying the customer $10,766.47. Lake personally contributed to the settlement of the matter.
Evidently, on September 18, 2018, the other Edward Jones customer filed a complaint about Lake. Allegedly, Lake gave the customer bad advice by discouraging the customer from investing in a Facebook IPO. Also, the customer claimed that Lake recommended oil-based stocks and other investments that poorly performed. From the customer’s perspective, the bad advice caused the customer to incur $50,000.00 in damages. Although this may be true, on October 10, 2018, Edward Jones denied the customer’s claim.
July 20, 2017 Customer Complaint Against Edward Jones, Regina Sheila Gleghorn
On July 20, 2017, an Edward Jones customer filed a dispute against Edward Jones and Regina Sheila Gleghorn (CRD#: 1205733, West Plains, Missouri) – a financial advisor who has been with Edward Jones since July 25, 1990. FINRA BrokerCheck records show that the customer alleged that Gleghorn did not follow the customer’s investment instructions. Apparently, the customer was supposed to have been placed in the Guided Solutions – a client-direct advisory program. Unfortunately for the customer, the arrangement did not get implemented until nearly five months later. Because of this, on September 6, 2017, Edward Jones and Gleghorn collectively paid the customer $44,462.51 to settle the claim.
Suffered Investment Losses?
If you have suffered losses by investing with Edward Jones’ financial advisors such as Joe Alan Green, Krystie Lynn Wear, Edward Hardy Dawkins, Kevin Scott Lake and Regina Sheila Gleghorn, call (888) 760-6552 for a free consultation with Soreide Law Group’s experienced counsel. Our firm has recovered millions of dollars for investors who have been victim to broker and brokerage firm misconduct. We represent clients on a contingency fee basis and advance all costs.