WEDBUSH SECURITIES & JONATHAN H MALINGER

Soreide Law Group has filed a FINRA arbitration on behalf of our client (Claimant) against: 

WEDBUSH SECURITIES INC. (Respondent).

The Claimant resides in Hawaii.  According to the lawsuit, the Claimant brings this claim to recover losses allegedly caused by the Respondent. The Respondent’s former Financial Advisor, JONATHAN H MALINGER, allegedly made unsuitable and unauthorized trades in Claimant’s accounts. Moreover, the lawsuit alleges that the Respondent has caused the Claimant to suffer unnecessary principal investment losses.

The lawsuit alleges that Financial Advisor, JONATHAN H MALINGER, made unauthorized purchases and sales in bonds to allegedly generate commissions. However, Malinger is not named in this lawsuit and is no longer registered with WEDBUSH SECURITIES.  JONATHAN H MALINGER was previously registered with WEDBUSH SECURITIES INC of Pasadena, California, from 02/18/2022 - 03/13/2026.

The lawsuit alleges that the Respondent’s actions in this case constitute a breach of fiduciary duty, negligence, and negligent supervision. The Claimant is alleging losses of approximately $200,000.00.

According to FINRA’s BrokerCheck, JONATHAN H MALINGER has 18 years of experience in the securities industry. In addition, JONATHAN H MALINGER was listed with 3 firms and has 2 disclosures.  One of the disclosures is a “Customer Dispute” dated 9/5/2025 that is currently pending.  The allegations are, “Cal. Financial Elder Abuse in Violation of Welfare & Institutions Code §15600 et seq., breach of fiduciary duty, professional negligence, and violations of California Law and FINRA Rules and Regulations.” The damage amount requested is not listed.

According to FINRA, the investor should be alert to trades that they never approved. Furthermore, FINRA suggests that you might find it helpful to take notes of trades you’ve approved at the time you communicate your approval to your registered financial professional. FINRA states that you should immediately notify your registered financial professional or firm if you observe unauthorized trading in your account. Moreover, FINRA reminds us that you should keep an eye out for a level of trading activity that’s inconsistent with your investment objectives. For example, high-volume trading or buying and selling the same securities in a relatively short period of time may be concerning. FINRA suggests that you should monitor your statements carefully to understand all commissions, fees and sales charges. If the total amount you’re paying seems high, or if one segment of your portfolio is generating higher fees than any other, there’s a chance this may be due to excessive trading.

To discuss this article or any other securities issues, contact Soreide Law Group and speak to an experienced securities lawyer at no cost:  888-760-6552.

Soreide Law Group represents our clients nationwide before FINRA on a contingency fee basis.