Investors appear to have filed disputes involving securities broker James Yang Driggers (“Jim Driggers”) (CRD#: 1359593, Sarasota, Florida). Specifically, Driggers, who worked for Morgan Stanley from 2008 to 2021, is involved in disputes where clients allege sales practice violations. Let’s take a closer look at these disputes, including what you could do if you experienced losses by investing through Driggers.
Evidently, a client of Morgan Stanley Smith Barney complained about suitability. Basically, suitability concerns an investor’s risk tolerance, investment objectives, financial needs, and more. Supposedly, Jim Driggers had the client invest in unsuitable alternative investments. It appears that by investing in hedge funds between August 2016 and July 2020, the client experienced damages. For this reason, the client asked for $200,000 in compensation in this ongoing matter.
Evidently, a client of Morgan Stanley complained about corporate bond investments in November 2016. It seems that the client invested in corporate bonds from 2014 to 2016 because of Jim Driggers and then experienced damages. However, Morgan Stanley denied this complaint in March 2017.
It appears that Jim Driggers worked for UBS Financial Services prior to joining Morgan Stanley. BrokerCheck shows that a client of UBS Financial Services disputed Driggers’ sales practices. Specifically, the client contends that the securities broker made misrepresentations about Lehman Brothers structured notes. Supposedly, Jim Driggers did not properly disclose the risks of the investment. The structured product was not suitable, according to the client. Because of this, the client asked for compensation. It seems that UBS Financial Services settled this matter by making a $207,000 payment to the client.
Did securities broker Jim Driggers cause you to suffer losses? If so, call Soreide Law Group at (888) 760-6552 and speak with a skilled securities lawyer regarding a possible recovery of your losses. Soreide Law Group represents clients on a contingency fee basis and advances all costs. The firm has helped many United States investors recover compensation when they have incurred losses by their financial advisors and securities brokers. Please note that Driggers denies all allegations of his sales practice violations.
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