Investors have reportedly disputed the sales practices of securities broker Michael Joseph Murray [CRD: 5034449, New York, New York], according to publicly available information on Financial Industry Regulatory Authority (FINRA) BrokerCheck. Murray worked for Laidlaw Company beginning on October 27, 2010, and remains registered with the firm. Keep reading to discover more about the disclosures involving Murray and what they may mean for investors.
Specifically, on September 23, 2024, a Laidlaw Company client filed FINRA Arbitration No. 24-01977 concerning Michael Murray. Primarily, the client alleged that Murray breached his fiduciary duty from 2018 to 2023. For this reason, the client allegedly incurred damages related to stocks, over-the-counter equities, and private placements. Therefore, the client requested $399,000 in compensation from Laidlaw Company or Murray. It appears that this arbitration is pending a resolution.
Particularly, the Securities and Exchange Commission issued Case No. 3-21801 on November 20, 2023, sanctioning Murray. Allegedly, from July 2020 through October 2021, Murray made securities recommendations to investors without adequately evaluating whether the overall pattern of transactions was excessive in light of each investor’s financial profile. The Securities and Exchange Commission found that these recommendations prioritized Murray’s financial interests over those of the investors and failed to satisfy the Care Obligation required under Regulation Best Interest. As a result, Murray was ordered to cease and desist from future violations, was formally censured, and was required to pay disgorgement of $24,414.17, prejudgment interest of $1,143.91, and a civil monetary penalty of $20,000.
Do you have concerns or questions regarding investments you made with Michael Murray? You can get in touch with Soreide Law Group online or at (888) 760-6552 and talk to a securities attorney regarding a possible recovery of your investment losses. Soreide Law Group has recovered losses for investors throughout the country. Also, the firm works on a contingency fee arrangement and advances all costs. Murray and brokerage firms Murray worked for deny accusations of sales practice violations.
ROBERT SCOTT SMITH (ROBERT S SMITH) is currently registered as a broker with EMERSON EQUITY LLC of Newberg, Oregon, since 4/3/2020. He was previously registered as a broker with CONCORDE INVESTMENT SERVICES LLC of Newberg, Oregon, 05/06/2011 - 04/06/2020. According to FINRA’s BrokerCheck, available to the public on FINRA’s website, ROBERT S SMITH has 39 […]
MARILEE ANN HILL (MARILEE A HILL, MARILEE ANN HANSEN) has been registered as a broker with EMERSON EQUITY LLC of San Mateo, California, since 3/26/2020. She was previously registered with PRIMEX of Christiansted, St. Croix, VI, from 10/13/2014 - 04/20/2020. According to FINRA’s BrokerCheck, available to the public on FINRA’s website, MARILEE A HILL has […]
Investors potentially experienced sales practice violations by securities broker Nicholas Thomas Stafford IV (also known as Nicholas Lance and Lance Stafford) [CRD: 2900449, Atlanta, Georgia], given the publicly available information found on Financial Industry Regulatory Authority (FINRA) BrokerCheck. Stafford worked for Bridge Capital Associates Inc. from January 10, 2020, to March 3, 2022, Emerson Equity […]
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