Soreide Law Group is reviewing investor complaints concerning securities broker Kevin Patrick McKenna (CRD#: 1886142, Wausau, Wisconsin), as disclosed on FINRA BrokerCheck. It appears that the disclosures involving McKenna concern his employment Stifel Nicolaus. Here’s more about the allegations of breach of fiduciary duty and unauthorized trading as reported on BrokerCheck. However, be mindful that the securities broker denies alleged improper sales practices.
Particularly, a Stifel Nicolaus client took aim at McKenna’s sales practices as a securities broker, as the client filed an arbitration action in December 2019. Alleged sales practice violations include unauthorized trading, negligence, breach of contract, and breach of fiduciary duty. Notably, McKenna purportedly caused the client damages by investing in DPPs and LPs. Evidently, in June 2021, Stifel Nicolaus agreed to settle with the client by paying $50,000 in damages.
Particularly, a Stifel Nicolaus client took aim at McKenna’s sales practices as a securities broker, as the client filed an investment dispute in September 2018. Alleged sales practice violations include speculative and badly performing stock investments. McKenna purportedly caused the client damages through his trading. Evidently, Stifel Nicolaus agreed to settle with the client, without admitting liability, by paying $17,500 in damages to the client per a settlement in October 2018.
Notably, a client of Stifel Nicolaus complained about Kevin McKenna’s sales practices, according to an investment dispute in BrokerCheck dated February 2018. Namely, the client alleges misrepresentation by McKenna regarding over-the-counter equities. Supposedly, the securities broker made it seem as though the investments were safe and non-speculative. It appears that McKenna or his employer caused damages to the client. Because of this, the securities firm settled by paying the client $13,466 in damages in March 2018. Still, the securities broker denies the allegations of improper sales practices.
Did you suffer losses because of securities broker Kevin McKenna? You can touch base with Soreide Law Group at (888) 760-6552 to chat with a helpful securities lawyer about possibly recovering your losses. Soreide Law Group represents investor clients on a contingency fee basis and advances all costs. The firm has recovered substantial compensation for hundreds of United States investors that have incurred losses from securities brokers and financial advisors. Please note that McKenna denies the allegations of inappropriate sales practices.
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