Investors File Suitability Disputes About Broker Timothy Kenska
Soreide Law Group is reviewing whether to advance potential investor disputes against securities broker Timothy Trevor Kenska (CRD#: 4894163, Encinitas, California). Namely, seven investors disputed the sales practices of Kenska, who has worked for Citigroup Global Markets Inc. since 2007 as both a securities broker and financial advisor. For more information about these disputes, read below.
Citigroup Global Markets Client Alleges Misrepresentation In Lawsuit About Timothy Kenska
A client of Citigroup Global Markets disputed Timothy Kenska’s sales practices in a December 2019 FINRA Arbitration Claim. Specifically, the client alleged that the broker misrepresented facts and omitted facts regarding securities. Secondly, he supposedly arranged unsuitable trades for the client’s individual retirement account. For this reason, the customer asks for $150,000 in damages. Apparently, this claim is ongoing.
Kenska Supposedly Causes CGMI Client Losses In IRA
Evidently, a second Citigroup Global Markets client contested Timothy Kenska’s sales practices in August 2017. Mainly, the client alleged that Kenska made unsuitable investments. It seems that the client experienced losses from 2015 to 2018. Accordingly, the securities firm settled this matter through compensating the client.
Citigroup Global Markets Client Alleges That Timothy Kenska Was In Breach Of Fiduciary Duty
Further, a third client of CGMI took aim at Timothy Kenska over the suitability of investments. It appears in this June 2017 dispute that Kenska solicited their investments in an advisory account. Supposedly, he put a bad investment portfolio together. This included buying risky energy securities. Not only that, but the client alleges that Kenska breached a fiduciary duty when he told the client to sell their annuity. It seems that the transaction possibly stood to benefit the broker only. For these reasons, Citigroup Global Markets Inc. opted to settle with the client through making a $77,388 payment.
Kenska Accused Of Investing Citigroup Client’s Account Aggressively
A fourth client of Citigroup Global Markets Inc. disputed Timothy Kenska’s sales practices in May 2017. It seems that the client wanted to invest in no more than moderate risk investments. Supposedly, the securities broker put the client’s assets primarily in a high risk investment. For this reason, the client demanded compensation. However, this dispute was denied.
Did You Sustain Damages By Investing Through Kenska?
Did Citigroup securities broker Timothy Kenska cause you to experience losses? If so, call Soreide Law Group at (888) 760-6552 and speak with a skilled securities lawyer about a potential 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 incurred losses because of their financial advisors and securities brokers. Please note that Kenska denies all allegations of his sales practice violations.