Broker John Hoekman Involved In Wells Fargo, Stephens Investor Disputes Alleging Unsuitable Advice

Soreide Law Group provides you with this update in regard to the investor disputes on the public record of securities broker John William Hoekman (CRD#: 2455445, New York, New York). In particular, 8 investors disputed the sales practices of Hoekman. Investors make allegations of failure to supervise, misrepresentation, and unsuitable recommendations in these disputes. Also, FINRA barred Hoekman for not complying with its investigation into possible outside business activities and private securities transactions. Read on to learn more about these incidents.

Client Of Wells Fargo Alleges That John Hoekman Made Unsuitable Trades

Evidently, a client of Wells Fargo and Stephens Inc. brought a dispute about John Hoekman. In this June 2020 FINRA Arbitration Claim, the client alleges that Hoekman recommended unsuitable over-the-counter equities which seemingly caused losses. Not only that, but the client suggested that Wells Fargo failed to supervise Hoekman. For this reason, The securities firms collectively paid the client $62,500 to resolve this matter.

Client Of Stephens Indicates That Hoekman Made Improper Recommendations

A second client of Stephens brought a FINRA Arbitration Claim in June 2017 regarding John Hoekman’s trading of penny stocks. Namely, the client contended that Hoekman made improper recommendations. It appears that Stephens opted to settle this matter through making a $150,000 payment to the client in May 2018.

John Hoekman Supposedly Gives Client Bad Advice About Investing

Evidently, a client of Wells Fargo brought a dispute about John Hoekman in a May 2016 FINRA Arbitration Claim. Specifically, the client claimed that Hoekman made recommendations that were not suitable for the client’s situation. Supposedly, when the broker was financial advisor, he unreasonably had clients loan a third party money for a Singapore Exchange offering. For this reason, to settle the matter, Wells Fargo compensated this client in the amount of $390,000.

Client Of Wells Fargo Alleges Misrepresentation By Hoekman

Moreover, a Wells Fargo Advisors client took aim at John Hoekman in a September 2015 lawsuit. Notably, Hoekman made recommendations which the client described as misrepresented and unsuitable. It seems that the client experienced losses or damages by investing in stocks because of the broker. Evidently, the client received a payment of $550,000 in a June 2016 settlement.

Did John Hoekman Cause You losses?

Did you lose money because of Wells Fargo’s John Hoekman? If so, call Soreide Law Group at (888) 760-6552 and talk with a skilled securities 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 unreasonably sustained losses because of their financial advisors and securities brokers. Evidently, Hoekman denies all allegations of his sales practice violations.Lars Soreide AVVO 2020 Top Lawyer