JOHN HOAGLAND Unauthorized Trading Allegations

JOHN HOAGLAND Allegedly Makes Unauthorized Trades

Soreide Law Group is reviewing possible claims of sales practice violations against Morgan Stanley securities broker John Hoagland (CRD#: 247075, Troy, Michigan). Namely, Hoagland, who worked at Morgan Stanley from June 1, 2009 to January 18, 2018, reports on his Financial Industry Regulatory Authority (“FINRA”) BrokerCheck Report that three investors disputed his sales practices. Those investor claims suggest Hoagland made unauthorized trades and misrepresentations about investments. Here’s more on the allegations against Hoagland:

Morgan Stanley Settles Investor Dispute Suggesting Hoagland’s Unauthorized Trading

 
A customer of Morgan Stanley Smith Barney filed an investment related dispute with the firm about John Hoagland. According to the customer, Hoagland made stock trades without authorization. Supposedly, Hoagland failed to receive the customer’s permission before Hoagland purchased equities in the customer’s account. Because of this, Morgan Stanley Smith Barney opted to pay the customer $27,543.56. Accordingly, this matter settled July 16, 2018. Unauthorized trading is not only a violation of FINRA or NASD Rules, but it can also violate antifraud provisions of federal securities laws.

February 15, 2018 Complaint Concerning John Hoagland’s Unauthorized Trading

 
A second Morgan Stanley Smith Barney Customer took issue with John Hoagland’s trading, evidenced by a February 15, 2018 complaint. Supposedly, in 2017, Hoagland bought or sold equities, including common or preferred stock, in the customer’s account. However, the customer did not give Hoagland permission to make those trades. Eventually, Morgan Stanley Smith Barney paid the customer $17,044.19 to put the customer’s claim to rest.

March 22, 2018 Arbitration Suggesting Hoagland’s Misrepresentation Of A Hedge Fund

 
Evidently, John Hoagland was a Citigroup Global Markets Inc. securities broker before transitioning to Morgan Stanley. Apparently, a customer contested Hoagland’s investment practices in filing FINRA Arbitration #10-01164 on March 22, 2010. Supposedly, Hoagland or Citigroup Global Markets misrepresented information about private placement funds. Relying on those misrepresentations, the customers reportedly purchased the funds at their peril. Notably, Citigroup and the customer agreed to a settlement where the firm paid the customer $183,602.00 to drop the claim.

Have you experienced losses by investing with securities broker John Hoagland? If so, contact Soreide Law Group at (888) 760-6552 and speak with experienced counsel about a possible recovery of your investment 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 suffered losses due to misconduct of brokers and brokerage firms.