Jeffrey Cadan Excessive Trading Disputes

Morgan Stanley Clients Take Aim At Broker Jeffrey Cadan Regarding Suitability, Excessive Trading

New investor disputes have emerged on the Financial Industry Regulatory Authority (FINRA) BrokerCheck report for securities broker Jeffrey Neil Cadan (CRD#: 2726285, New York, New York). It appears that three clients filed disputes in 2020, and a number of additional disputes have been filed since 2008. Clients allege in these disputes that Cadan made unsuitable and excessive trades. Let’s take a closer look.

Morgan Stanley Smith Barney Client Indicates That Jeffrey Cadan Made Excessive Trades

Evidently, a client of Morgan Stanley Smith Barney disputed Jeffrey Cadan’s trading in a July 2020 FINRA Arbitration Claim. Mainly, the client contended that Cadan was excessively trading and this caused damages or losses for their account. For this reason, the client seeks compensation in this ongoing matter. It appears that a separate client brought a FINRA Arbitration Claim in July 2020 to allege excessive trading, and that matter is ongoing as well.

Cadan Supposedly Excessively Trades In Client’s Account

Notably, in a June 2020 lawsuit, a client of Morgan Stanley took issue with Jeffrey Cadan’s trading practices. Notably, this client also alleges excessive trading. It is unclear what investments Cadan traded. This matter is currently awaiting a resolution.

Client Receives $1,200,000 In Settlement Of FINRA Arbitration Claim

Evidently, a client of Morgan Stanley Smith Barney filed a lawsuit in 2018. Morgan Stanley, Jeffrey Cadan and others were named in this lawsuit. Specifically, the Statement of Claim contains allegations including breach of fiduciary duty and breach of contact. Causes of action also include misrepresentation, violation of FINRA rules, and violation of securities laws. It appears that this claim concerns the client’s investments in government bonds and agency bonds. BrokerCheck shows that Morgan Stanley settled this matter through making a $1,200,000 payment to this client in November 2018.

UBS Financial Services Client Indicates That Jeffrey Cadan Misrepresented Information About Structured Notes

Notably, a client of UBS Financial Services brought a FINRA Arbitration Claim about Jeffrey Cadan. Namely, they allege that Cadan made unsuitable recommendations about structured notes. Supposedly, the broker omitted and misrepresented facts in connection with the client’s notes purchase. Because of this, UBS Financial Services opted to pay the client $170,000.

Cadan Supposedly Breaches Fiduciary Duty Causing UBS Client’s Losses

Also, a second UBS Financial Services client contested Jeffrey Cadan’s trading. The client alleged various sales practice violations including negligence, breach of fiduciary duty and misrepresentation. Supposedly, Cadan’s unsuitable trading caused bond losses. Evidently, UBS Financial Services paid the client $345,500 to resolve this matter.

Did You Experience Losses By Investing Through Jeffrey Cadan?

Have you sustained damages because of Jeffrey Cadan? If so, touch base with Soreide Law Group at (888) 760-6552 and speak with an experienced lawyer about a potential recovery. Soreide Law Group represents clients on a contingency fee basis. We advance all costs. The firm recovered millions of dollars for investors who sustained losses due to improper actions by financial advisors and securities brokers. FINRA BrokerCheck indicates that Cadan denies accusations of his sales practice violations.
CONTACT US