Securities Broker John Cullen Targeted In Disputes From Clients Of Spartan Capital, Andrew Garret
The Financial Industry Regulatory Authority (“FINRA”) reports investor disputes regarding the sales practices of securities broker John Cullen (CRD#: 5062835, Garden City, New York). Namely, this securities broker, who worked for five securities firms including Spartan Capital Securities and Andrew Garrett, is alleged to have engaged in sales practice violations. Here’s more on the investor’ disputes.
Spartan Capital Client Indicates That John Cullen Misrepresented Information, Provided Bad Advice
Evidently, a client of Spartan Capital Securities took aim at John Cullen through a January 2020 FINRA Arbitration Claim. Specifically, the client alleged that Cullen misrepresented information relating to investments. Also, the broker supposedly made unsuitable recommendations to the client. For this reason, the client demanded $336,948 in damages. As of January 11, 2021, this matter is ongoing.
Cullen Supposedly Concentrated Andrew Garrett Client’s Account In Unsuitable Way
Next, an Andrew Garrett client contested John Cullen’s actions in a June 2015 dispute. Namely, the client alleged that Cullen heavily invested the client’s assets in one or more stocks. It seems that Cullen may have overlooked whether it was suitable for the client to maintain such a large concentration in equities. Additionally, the broker supposedly charged high commissions to the client. This matter settled through Andrew Garrett paying the client $39,999.
Andrew Garrett Client Indicates That John Cullen Made Excessive Trades
In the third dispute on Cullen’s BrokerCheck record, a client of Andrew Garrett contended that John Cullen made excessive trades. It appears that Cullen may have traded equities in the client’s account when this was not suitable for the client. Because of this, Andrew Garrett opted to settle this matter through making a $39,000 payment to the client.
Did You Experience Losses By Investing Through Cullen?
FINRA BrokerCheck indicates that John Cullen denies allegations made against him. Have you experienced losses because of the broker? If so, contact Soreide Law Group at (888) 760-6552 and speak with an experienced lawyer about a possible recovery of your losses. Soreide Law Group represents clients on a contingency fee basis and advances all costs. The firm has recovered millions of dollars for investors who have been harmed by their financial advisors or securities brokers.