Jonathan Lonske Suitability, Misrepresentation Disputes
Morgan Stanley Clients Take Aim At Broker Jonathan Lonske For Alleged Sales Practice Violations
The Financial Industry Regulatory Authority (“FINRA”) reports troubling information on securities broker Jonathan William Lonske (CRD#: 2594921, Boston, Massachusetts). Notably, Morgan Stanley, who Lonske worked for between 2009 and 2020, disaffiliated with him for alleged transgressions. In addition, four investors challenged Lonske’s sales practices. Here’s more on these disclosures.
Morgan Stanley’s November 2020 Termination Of Jonathan Lonske
Evidently, Morgan Stanley Wealth Management disaffiliated with Jonathan Lonske on November 9, 2020. Allegedly, he misused a client relationship management (CRM) system and made inaccurate responses to employment-based questionnaires, according to Morgan Stanley. The securities broker denies the allegations.
Morgan Stanley Client Brings Lawsuit Over Suitability Of Lonske’s Trading
Notably, a client of Morgan Stanley brought a FINRA Arbitration Claim in October 2017 to dispute Jonathan Lonske’s actions relating to a managed investment account. It appears that the client invested in unsuitable investments from 2008 to 2017. It is possible that Lonske’s trading caused the client to experience losses. Evidently, Morgan Stanley compensated the client in the amount of $125,000 to put this claim to rest in June 2020.
Jonathan Lonske Supposedly Misrepresents Information About Structured Notes
Evidently, a second Morgan Stanley client took aim at Jonathan Lonske’s actions. In the January 2016 complaint, the client alleged misrepresentation of structured products. Supposedly, the investor relied on Lonske’s representations when purchasing or retaining structured notes. For this reason, the client received $36,158.86 in compensation from Morgan Stanley to settle.
It appears that a Morgan Stanley Smith Barney client disputed Jonathan Lonske’s actions as well. In the 2011 dispute, the client suggested that Lonske misrepresented mutual fund purchases. The securities firm paid the client $50,000 later that year to settle the matter. Finally, a UBS client received compensation after bringing a complaint alleging unsuitability and misrepresentation regarding mutual funds.
Losses Because Of Investing Through Broker Jonathan Lonske?
Have you experienced losses because of Lonske? If so, reach out to Soreide Law Group at (888) 760-6552 and speak with experienced counsel concerning a possible recovery of your investment losses. Soreide Law Group represents clients on a contingency fee basis and advances all costs. The law firm has recovered millions of dollars for clients who have lost money because of bad actions by financial advisors and securities brokers. Reportedly, Lonske denies allegations of his sales practice violations.