Investors File Disputes About Shawn Spellacy

Investors have come forward with complaints about Shawn Conan Spellacy [CRD: 2275119, Fair Oaks, California]. Evidently, the securities broker, who worked for Calton Associates Inc., discloses client disputes via Financial Industry Regulatory Authority (FINRA) BrokerCheck. Notably, Calton Associates Inc. clients allege unsuitable trading. For more on these disclosures about Spellacy, see below.

Calton Associates Inc. Investor Accused Spellacy Of Unsuitable Trading

Particularly, on June 26, 2023, a Calton Associates Inc. client filed FINRA Arbitration: 23-01841 about Shawn Spellacy. Namely, the client alleged that Spellacy engaged in unsuitable trading. Because of this, the client allegedly sustained damages on stocks. Therefore, the client requested $719,415 in compensation from Calton Associates Inc. or Spellacy. Evidently, this arbitration is pending a resolution.

Calton Associates Inc. Investor Accused Shawn Spellacy Of Omissions

Additionally, a client of Calton Associates Inc. contested Shawn Spellacy’s sales practices by filing FINRA Arbitration: 12-02727. Allegedly, Spellacy made omissions, made misrepresentations, breached a fiduciary duty, and violated state securities laws. It appears that Spellacy caused the client to sustain damages. Therefore, Calton Associates Inc. opted to settle the matter on August 14, 2013, by compensating the client in the amount of $99,999.

Spellacy Discloses Misrepresentation Allegations By Calton Associates Inc. Client

Also, a Calton Associates Inc. client filed Civil Suit: 4579 about Shawn Spellacy. Namely, the client alleged that Spellacy made misrepresentations, breached a fiduciary duty, and failed to perform due diligence. Because of this, the client allegedly sustained damages on 1031 exchanges. Therefore, on October 20, 2009, Calton Associates Inc. settled this matter by paying the client $50,010 in damages.

Employment Information

Shawn Spellacy has worked for Calton Associates Inc. as a securities broker since May 1999 and as a financial advisor since May 2004.

Damages Resulting From Calton Associates Inc. Securities Broker Shawn Spellacy?

Did you experience damages by investing with Shawn Spellacy? If so, reach out to Soreide Law Group online or at (888) 760-6552 and speak with a securities lawyer concerning a potential recovery of your investment losses. Soreide Law Group, who has helped recover money for investors in all 50 states, represents clients on a contingency fee basis and advances all costs. Spellacy and brokerage firms Spellacy worked for deny accusations of sales practice violations.