BREACH OF CONTRACT, BREACH OF FIDUCIARY DUTY, FAILURE TO SUPERVISE AND NEGLIGENCE AND VIOLATION OF REG BI.

$100,000.00

BREACH OF CONTRACT, BREACH OF FIDUCIARY DUTY, NEGLIGENT SUPERVISION AND VIOLATION OF THE BEST INTEREST OBLIGATIONS (REG BI).

$100,000.00

FINRA

Dutton was named a respondent in a FINRA complaint alleging that he recommended customers purchase illiquid alternative investments without having a reasonable basis to believe that these purchases were suitable. The complaint alleges Dutton's recommendations of alternative investments to the customers, most of whom were retired or approaching retirement, were unsuitable based on their investment profiles-including their net worths, investable assets, annual incomes, investment objectives, and risk tolerances. The recommendations generated more than $72,000 in commission for Dutton. The complaint also alleges that Dutton falsified his member firm's books and records and caused numerous books and records, including new account documents, Direct Business Profile and Agreement forms, Accredited Investor Forms, and Suitability Forms to contain false and inaccurate information regarding customers. The records Dutton falsified caused them to contain false and inaccurate information about his customers' net worth, risk tolerance, investment objective, and concentration percentage in alternative investments. The complaint further alleges that Dutton did not respond to FINRA's requests for information and documents and when he did, Dutton did not respond in a timely manner. The information requested was material to FINRA's investigation of whether Dutton made unsuitable recommendations of alternative investments to additional customers. Dutton responded to a request only after the initiation and near-completion of a FINRA proceeding that would have resulted in his bar from the securities industry if he did not comply. Dutton has subsequently failed to respond to other FINRA requests for information in connection with a separate investigation into whether Dutton engaged in a private securities transaction.

Decision

Bar (Permanent)

All Capacities

Indefinite

6/24/2024

Disgorgement

$65,509.00

Plus interest.

Default Decision rendered May 29, 2024 wherein Dutton is barred from associating with any FINRA member firm in any capacity and is ordered to pay $65,509, plus interest, in disgorgement to FINRA. The sanctions were based on the findings that Dutton made unsuitable recommendations of alternative investments. The findings stated that Dutton recommended that his customers, who were usually retired or approaching retirement, purchase $1.2 million in alternative investments. These recommendations generated $72,789 in commissions for Dutton and his member firm. Dutton's recommendations were unsuitable based on the customers' investment profile, including their net worth, investable assets, annual income, investment objective, and risk tolerance. The findings also stated that Dutton falsified books and records of his firm and caused these books and records to be inaccurate. Dutton falsified documents, including new account documents, Suitability Forms, Direct Business Profile and Agreements, and Accredited Investor Forms. These documents misrepresented customers' investor profile and suitability information, including their net worth, risk tolerance, investment objective, and concentration percentage in alternative investments. The findings also included that Dutton failed to respond or timely respond to request for information and documents made by FINRA relating to his sale of alternative investments. FINRA sent multiple requests and ultimately suspended Dutton for failing to respond to its request. In order to remove the suspension, Dutton provided documents and information but did not give any reason for his five-month delay in responding. FINRA sent additional requests to Dutton who orally requested an extension of time to respond to this request, yet Dutton failed to respond. In connection with a second FINRA investigation related to an outside investment account Dutton had at a third-party entity, FINRA sent additional requests for documents and information. Dutton stated in a phone call with FINRA that he would consider responding to this request yet did not request an extension of time to respond and did not respond. Accordingly, FINRA sent out another request stating that Dutton's failure to respond could result in disciplinary action, including a bar from associating with any FINRA member firm. Dutton left a voicemail with FINRA about the requests yet failed to respond with the requested documents and information. The decision is final on June 24, 2024.

BREACH OF FIDUCIARY DUTY, BREACH OF CONTRACT, FAILURE TO SUPERVISE AND NEGLIGENCE.

$500,000.00

FINRA

Respondent Dutton failed to comply with an arbitration award or settlement agreement or to satisfactorily respond to a FINRA request to provide information concerning the status of compliance.

Letter

Suspension

All capacities

Indefinite

Continues until required payment is made or discharged.

7/26/2023

Pursuant to Article VI, Section 3 of FINRA By-Laws, and FINRA Rule 9554, Respondent Dutton is suspended on July 26, 2023 for failure to comply with an arbitration award or settlement agreement or to satisfactorily respond to a FINRA request to provide information concerning the status of compliance.

Breach of Fiduciary Duty, Negligence, Breach of Contract, Failure to Supervise, Violation of Pennsylvania Securities Act of 1972, Fraudulent Inducement to Hold Investment.

$130,000.00

$20,000.00

Breach of Fiduciary Duty, Negligence, Violation of Common Law Fraud, Failure to Supervise.

$100,000.01

$22,500.00

Dutton was named in a customer complaint that asserted the following causes of action: violation of federal securities laws, violation of Pennsylvania securities laws, violation of the Pennsylvania unfair trade practices and consumer protection law, breach of contract; common law fraud, breach of fiduciary duty, and negligence and gross negligence.

$43,644.69

This award has not been paid by or on behalf of Dutton as of July 26, 2023.

FINRA

Respondent Dutton failed to respond to FINRA requests for information.

Letter

Suspension

All Capacities

n/a

7/5/2022

9/14/2022

Pursuant to FINRA Rule 9552 and in accordance with FINRA's Notice of Suspension letter dated June 8, 2022, Dutton is suspended on July 5, 2022 from associating with any FINRA member firm in all capacities. If Dutton fails to request termination of the suspension within three months of the date of the Notice of Suspension, he will automatically be barred on September 12, 2022 from association with any FINRA member in all capacities pursuant to FINRA Rule 9552(h). Suspension lifted on September 14, 2022.

Claimant alleges: unsuitable investment, misrepresentation and omissions of material fact, breach of contract, breach of fiduciary duty, and negligence

$100,001.00

$16,607.00

Claimant alleges: unsuitable recommendations, overconcentration, misrepresentation

$99,999.00

$25,000.00

Customer made purchase of ARC Hospitality Trust, Inc. on 11/04/2015. Customer became disillusioned when the product stopped paying dividends due to COvid-19's impact on the hospitality industry

$25,000.00

UNSUITABLE INVESTMENTS, BREACH OF FIDUCIARY DUTY AND BREACH OF CONTRACT

$55,000.00

CLAIMANT ALLEGES NEGLIGENCE, MISREPRESENTATION, OMISSION AND BREACH OF FIDUCIARY DUTY.

$95,000.00

$40,000.00

CLAIMANT ALLEGES SELLING SECURITIES WITHOUT ADEQUATE DUE DILIGENCE, NEGLIGENCE, MISREPRESENTATION, OMISSION OF MATERIAL FACT AND BREACH OF FIDUCIARY DUTY.

$230,000.00

$52,500.00

THE FIRM NOR THE REGISTERED REPRESENTATIVE CAN CONFIRM THAT THE INFORMATION CONTAINED HEREIN IS ACCURATE AS THE REP NOR THE FIRM ARE IN POSSESSION OF THE STATEMENT OF CLAIM. THE INFORMATION CONTAINED HEREIN WAS OBTAINED FROM THE FORM U5 FILING BY THE REPS PREVIOUS FIRM. REPRESENTATIVE IS NOT NAMED AS A RESPONDENT IN THIS ARBITRATION AND VEHEMENTLY DENIES ALL ALLEGATIONS.

CLAIMANTS ALLEGE NEGLIGENCE, MISREPRENTATION, OMMISSION OF MATERIAL FACTS, BREACH OF FIDUCIARY DUTY, BREACH OF CONTRACT

$12,000.00

$6,000.00

THE FILING FIRM NOR THE REGISTERED REPRESENTATIVE CAN CONFIRM THE INFORMATION CONTAINED HEREIN IS ACCURATE, AS THE REP NOR THE FILING FIRM HAS RECEIVED A COPY OF THE STATEMENT OF CLAIM. THE INFORMATION CONTAINED HEREIN WAS COPIED FROM THE FORM U5 FILING BY REPS PREVIOUS FIRM, NEWBRIDGE SECURITIES. REPRESENTATIVE VEHEMENTLY DENIES ALL ACCUSATIONS. REP HAD NO INDIVIDUAL CONTRIBUTION TO SETTLEMENT.

CLAIMANT ALLEGES UNSUITABLE INVESTMENTS, MISREPRESENTATION, OMMISSION OF MATERIAL INFORMATION, NEGLIGENCE

$140,000.00

$29,000.00

The investments at issue in the Statement of Claim were purchased on a fully informed basis and were suitable given the Claimant's investment objectives, financial situation, and risk tolerance. Claimant fully understood the risks involved in the complained of investments, confirmed the same in writing and accepted the risk for the potential of greater returns. Newbridge ultimately settled this matter, without any contribution from Mr. Dutton, for an amount substantially less than the cost of defending the case through a final hearing.

CLAIMANT ALLEGES NEGLIGENCE, MISREPRESENTATION, OMISSION OF MATERIAL FACT, BREACH OF FIDUCIARY DUTY

$250,000.00

$95,000.00

The investments at issue in the Statement of Claim were purchased on a fully informed basis and were suitable given the Claimant's investment objectives, financial situation, and risk tolerance. Claimant fully understood the risks involved in the complained of investments, confirmed the same in writing and accepted the risk for the potential of greater returns. Newbridge ultimately settled this matter, without any contribution from Mr. Dutton, for an amount substantially less than the cost of defending the case through a final hearing.

CLAIMANT ALLEGES SALE OF UNSUITABLE SECURITIES

$60,000.00

$25,000.00

THE FIRM NOR THE REGISTERED REPRESENTATIVE CAN CONFIRM THAT THE INFORMATION CONTAINED HEREIN IS ACCURATE AS THE REP NOR THE FIRM HAVE RECEIVED A COPY OF THE STATEMENT OF CLAIM. THE INFORMATION CONTAINED HEREIN WAS COPIED FROM THE FORM U5 FILED BY REPS PREVIOUS FIRM. REPRESENTATIVE IS NOT NAMED AS A RESPONDENT IN THIS ARBITRATION AND VEHEMENTLY DENIES ALL ALLEGATIONS. Case Settled. Individual Contribution 0.00

CLAIMANT ALLEGES SALE OF UNSUITABLE SECURITIES, NEGLIGENCE, BREACH OF FIDUCIARY DUTY AND MISREPRESENTATION

$33,000.00

$9,000.00

THE FILING FIRM NOR THE REGISTERED REPRESENTATIVE CAN CONFIRM THE INFORMATION CONTAINED HEREIN IS ACCURATE, AS THE REP NOR THE FILING FIRM HAS RECEIVED A COPY OF THE STATEMENT OF CLAIM. THE INFORMATION CONTAINED HEREIN WAS COPIED FROM THE FORM U5 FILING BY REPS PREVIOUS FIRM, NEWBRIDGE SECURITIES. REPRESENTATIVE VEHEMENTLY DENIES ALL ACCUSATIONS. REGISTERED REPRESENTATIVE DID NOT PARTICIPATE IN ANY SETTLEMENT AMOUNT. The investments at issue in the Statement of Claim were purchased on a fully informed basis and were suitable given the Claimant's investment objectives, financial situation, and risk tolerance. Claimant fully understood the risks involved in the complained of investments, confirmed the same in writing and accepted the risk for the potential of greater returns. Newbridge ultimately settled this matter, without any contribution from Mr. Dutton, for an amount substantially less than the cost of defending the case through a final hearing.

CLAIMANT ALLEGES SALE OF UNSUITABLE SECURITIES, NEGLIGENCE, BREACH OF FIDUCIAR DUTY AND FAILURE TO SUPERVISE.

$100,000.00

$25,000.00

THE FIRM NOR THE REGISTERED REPRESENTATIVE CAN CONFIRM THE INFORMATION CONTAINED HEREIN IS ACCURATE AS THE REP NOR THE FILING FIRM HAS RECEIVIED A COPY OF THE STATEMENT OF CLAIM. THE INFORAMTION CONTAINED HEREIN WAS COPIED FROM THE FORM U5 UPDATE FILED BY REPS PREVIOUS FIRM. REPRESENTATIVE IS NOT NAMED AS A RESPONDENT IN THIS ARBITRATION AND VEHEMENTLY DENIES ALL ACCUSATIONS. Case settled, Individual contribution is zero

CLAIMANTS ALLEGE SALE OF UNSUITABLE SECURITIES, NEGLIGENCE, BREACH OF FIDUCIARY DUTY AND FAILURE TO SUPERVISE

$80,000.00

$15,000.00

THE FIRM NOR THE REGISTERED REPRESENTATIVE CAN CONFIRM THE INFORMATION CONTAINED HEREIN IS ACCURATE AS THE REP NOR THE FILING FIRM HAS RECEIVIED A COPY OF THE STATEMENT OF CLAIM. THE INFORAMTION CONTAINED HEREIN WAS COPIED FROM THE FORM U5 UPDATE FILED BY REPS PREVIOUS FIRM. REPRESENTATIVE IS NOT NAMED AS A RESPONDENT IN THIS ARBITRATION AND VEHEMENTLY DENIES ALL ACCUSATIONS. The investments at issue in the Statement of Claim were purchased on a fully informed basis and were suitable given the Claimant's investment objectives, financial situation, and risk tolerance. Claimant fully understood the risks involved in the complained of investments, confirmed the same in writing and accepted the risk for the potential of greater returns. Newbridge ultimately settled this matter, without any contribution from Mr. Dutton, for an amount substantially less than the cost of defending the case through a final hearing.

CLAIMANT ALLEGES SALE OF UNSUITABLE SECURITIES, NEGLIGENCE, BREACH OF FIDUCIARY DUTY AND FAILURE TO SUPERVISE.

$100,000.00

$15,000.00

The investments at issue in the Statement of Claim were purchased on a fully informed basis and were suitable given the Claimant's investment objectives, financial situation, and risk tolerance. Claimant fully understood the risks involved in the complained of investments, confirmed the same in writing and accepted the risk for the potential of greater returns. Newbridge ultimately settled this matter, without any contribution from Mr. Dutton, for an amount substantially less than the cost of defending the case through a final hearing.

CLAIMANT ALLEGES UNSUITABLE INVESTMENTS IN HIS ACCOUNT RESULTED IN DAMAGES

$130,000.00

$75,000.00

THE FIRM NOR THE REGISTERED REPRESENTATIVE CAN CONFIRM THAT THE INFORMATION CONTAINED HEREIN IS ACCURATE AS THE REP NOR THE FIRM ARE IN POSSESSION OF THE STATEMENT OF CLAIM. THE INFORMATION CONTAINED HEREIN WAS OBTAINED FROM THE FORM U5 FILING BY THE REPS PREVIOUS FIRM. REPRESENTATIVE IS NOT NAMED AS A RESPONDENT IN THIS ARBITRATION AND VEHEMENTLY DENIES ALL ALLEGATIONS. Case settled, individual contribution is zero. The investments at issue in the Statement of Claim were purchased on a fully informed basis and were suitable given the Claimant's investment objectives, financial situation, and risk tolerance. Claimant fully understood the risks involved in the complained of investments, confirmed the same in writing and accepted the risk for the potential of greater returns. Newbridge ultimately settled this matter, without any contribution from Mr. Dutton, for an amount substantially less than the cost of defending the case through a final hearing.

CLAIMANTS ALLEGE THEIR INVESTMENT IN AN UNSUITABLE SECURITY CAUSED DAMAGES

$35,000.00

$11,000.00

THE FIRM NOR THE REGISTERED REPRESENTATIVE CAN CONFIRM THAT THE INFORMATION CONTAINED HEREIN IS ACCURATE AS THE REP NOR THE FIRM HAVE RECEIVED A COPY OF THE STATEMENT OF CLAIM. THE INFORMATION CONTAINED HEREIN WAS COPIED FROM THE FORM U5 FILED BY REPS PREVIOUS FIRM. REPRESENTATIVE IS NOT NAMED AS A RESPONDENT IN THIS ARBITRATION AND VEHEMENTLY DENIES ALL ALLEGATIONS. Case settled individual contribution zero.

CLAIMAINTS ALLEGE SALE OF UNSUITABLE SECURITIES, NEGLIGENCE, BREACH OF FIDUCIARY DUTY

$225,000.00

$64,750.00

THE FIRM NOR THE REGISTERED REPRESENTATIVE CAN CONFORM THAT THE INFORMATION CONTAINED HEREIN IS ACCURATE AS THE REP NOR THE FIRM HAVE RECEIVED A COPY OF THE STATEMENT OF CLAIM. THE INFORMATION CONTAINED HEREIN WAS COPIED FORM THE FORM U5 FILED BY REPS PREVIOUS FIRM. REPRESENTATIVE IS NOT NAMED AS A RESPONDENT IN THIS ARBITRATION AND VEHEMENTLY DENIES ALL ALLEGATIONS.

CLAIMANTS ALLEGE SALE OF UNSUITABLE SECURITIES, NEGLIGENCE, BREACH OF FIDUCIARY DUTY AND FAILURE TO SUPERVISE.

$50,000.00

$2,500.00

THE FIRM NOR THE REGISTERED REPRESENTATIVE CAN CONFIRM THAT THE INFORMATION CONTAINED HEREIN IS ACCURATE AS THE REP NOR THE FIRM HAVE RECEIVED A COPY OF THE STATEMENT OF CLAIM. THE INFORMATION CONTAINTED HEREIN WAS COPIED FORM THE FORM U5 FILING BY THE REPS PREVIOUS FIRM. REPRESENTATIVE IS NOT NAMED AS A RESPONDENT IN THIS ARBITRATION AND VEHEMENTLY DENIES ALL ACCUSATIONS. Case settled. Individual contribrution was zero. The investments at issue in the Statement of Claim were purchased on a fully informed basis and were suitable given the Claimant's investment objectives, financial situation, and risk tolerance. Claimant fully understood the risks involved in the complained of investments, confirmed the same in writing and accepted the risk for the potential of greater returns. Newbridge ultimately settled this matter, without any contribution from Mr. Dutton, for an amount substantially less than the cost of defending the case through a final hearing.

CLAIMANTS ALLEGE INVESTMENTS IN UNSUITABLE SECURITIES, MISREPRESENTATION, BREACH OF FIDUCIARY DUTY AND NEGLIGENT FAILURE TO SUPERVISE RESULTED IN DAMAGES.

$500,000.00

$15,000.00

THE FIRM NOR THE REGISTERED REPRESENTATIVE CAN CONFIRM THAT THE INFORMATION CONTAINED HEREIN IS ACCURATE AS THE REPRESENTATIVE NOR THE FIRM HAVE RECEIVED A COPY OF THE STATEMENT OF CLAIM. THE INFORMATION CONTAINED HEREIN WAS OBTAINED FROM THE FORM U5 UPDATE FILING BY REPRESENTTIVE'S PREVIOUS FIRM. REPRESENTATIVE IS NOT NAMED AS A RESPONDENT IN THIS ARBITRATION AND VEHEMENTLY DENIES ALL ALLEGATIONS.The investments at issue in the Statement of Claim were purchased on a fully informed basis and were suitable given the Claimant's investment objectives, financial situation, and risk tolerance. Claimant fully understood the risks involved in the complained of investments, confirmed the same in writing and accepted the risk for the potential of greater returns. Newbridge ultimately settled this matter, without any contribution from Mr. Dutton, for an amount substantially less than the cost of defending the case through a final hearing.

CLAIMANT ALLEGES UNSUITABLE INVESTMENTS IN HIS ACCOUNT RESULTED IN DAMAGES

$150,000.00

$30,000.00

THE FIRM NOR THE REGISTERED REPRESENTATIVE CAN CONFIRM THAT THE INFORMATION CONTAINED HEREIN IS ACCURATE AS THE REP NOR THE FIRM HAVE RECEIVED A COPY OF THE STATEMENT OF CLAIM. THE INFORMATION CONTAINED HEREIN WAS COPOIED FROMT HE FORM U5 UPDATED FILED BY REPS PREVIOUS FIRM. REPRESENTATIVE IS NOT NAMES AS A RESPONDENT IN THIS ARBITRATION AND VEHEMENTLY DENIES ALL ALLEGATIONS

CLAIMANTS ALLEGE UNSUITABLE SECURITIES, MISREPRESENTATIONS AND OMISSIONS OF MATERIAL FACTS CONCERNING THE RISKS AND FEATURES OF THE SECURITIES.

$30,000.00

$12,500.00

THE FIRM NOR THE REGISTERED REPRESENTATIVE CAN CONFIRM THAT THE INFORMATION CONTAINED HEREIN IS ACCURATE AS THE REP NOR THE FIRM HAVE RECEIVED A COPY OF THE STATEMENT OF CLAIM. THE INFORMATION CONTAINED HEREIN WAS COPIED FROM THE FORM 5 UPDATE FILED BY REPS PREVIOUS FIRM. REPRESENTATIVE IS NOT NAMED AS A RESPONDENT IN THIS ARBITRATION AND VEHEMENTLY DENIES ALL ALLEGATIONS. THE FILING FIRM NOR THE REGISTERED REPRESENTATIVE CONTRIBUTED TO THE SETTLEMENT AMOUNT.

CLAIMANTS ALLEGE UNSUITBLE SECURITIES, MISREPRESENTATIONS AND OMISSIONS OF MATERIAL FACTS CONCERNING THE RISKS AND FEATURES OF THE SECURITIES.

$150,000.00

$40,000.00

THE FIRM NOR THE REGISTERED REPRESENTATIVE CAN CONFIRM THAT THE INFORMATION CONTAINED HEREIN IS ACCURATE AS THE REP NOR THE FIRM HAVE RECEIVED A COPY OF THE STATEMENT OF CLAIM. THE INFORMATION CONTAINED HEREIN WAS COPIED FROM THE FORM 5 UPDATE FILED BY REPS PREVIOUS FIRM. REPRESENTATIVE IS NOT NAMED AS A RESPONDENT IN THIS ARBITRATION AND VEHEMENTLY DENIES ALL ALLEGATIONS. The investments at issue in the Statement of Claim were purchased on a fully informed basis and were suitable given the Claimant's investment objectives, financial situation, and risk tolerance. Claimant fully understood the risks involved in the complained of investments, confirmed the same in writing and accepted the risk for the potential of greater returns. Newbridge ultimately settled this matter, without any contribution from Mr. Dutton, for an amount substantially less than the cost of defending the case through a final hearing.

CLAIMANTS ALLEGE UNSUTIABLE SECURITIES, MISREPRESENTATIONS AND OMISSIONS OF MATERIAL FACTS CONCERNING THE RISKS AND FEATURES OF THE SECURITIES.

$230,000.00

$15,000.00

THE FIRM NOR THE REGISTERED REPRESENTATIVE CAN CONFIRM THAT THE INFORMATION CONTAINED HEREIN IS ACCURATE AS THE REP NOR THE FIRM HAVE RECEIVED A COPY OF THE STATEMENT OF CLAIM. THE INFORMATION CONTAINED HEREIN WAS COPIED FROM THE FORM 5 UPDATE FILED BY REPS PREVIOUS FIRM. REPRESENTATIVE IS NOT NAMED AS A RESPONDENT IN THIS ARBITRATION AND VEHEMENTLY DENIES ALL ACCUSATIONS.The investments at issue in the Statement of Claim were purchased on a fully informed basis and were suitable given the Claimant's investment objectives, financial situation, and risk tolerance. Claimant fully understood the risks involved in the complained of investments, confirmed the same in writing and accepted the risk for the potential of greater returns. Newbridge ultimately settled this matter, without any contribution from Mr. Dutton, for an amount substantially less than the cost of defending the case through a final hearing.

Violations of Federal Securities Laws, The Pennsylvania Securities Act, The Pennsylvania Unfair Trade Practices and Consumer Protection Act, sale of Unsuitable Securities, Negligence, Common Law Fraud, Breach of Fiduciary Duty and Failure to Supervise.

$350,000.00

$15,000.00

Representative is not listed as a respondent in this arbitration and vehemently denies all allegations.

Pennsylvania, Counsel Stefanie Hamilton 215-239-2327

Dutton recommended the purchase of a security to at least one customer without reasonable grounds to believe that the transaction was suitable for the customer. Dutton engaged in dishonest or unethical practices in the securities business by recommending to a customer the purchase, sale, or exchange of a security without reasonable grounds to believe that the transaction or recommendation was suitable for the customer based upon reasonable inquiry concerning the customer's investment objectives, financial situation and needs and other relevant information known by the agent. This Order does not constitute a final order based on violations of any laws or regulations that prohibit fraudulent, manipulative or deceptive conduct.

Consent Agreement & Order

Civil and Administrative Penalty(ies)/Fine(s)

$200,000.00

Dutton shall pay the Department an administrative assessment of $200,000. The administrative assessment shall be paid as follows: 23 monthly payments of $8,333.33 on or before the 28th day of each month, beginning August 28, 2017 and ending June 28, 2019; $8,333.41 due on or before August 28, 2019.

CLAIMANT ALLEGES MISREPRESENTATIONS AND OMISSIONS, BREACH OF FIDUCIARY DUTY, NEGLIGENCE, BREACH OF CONTRACT AND FAILURE OF SUPERVISION.

$111,912.00

$14,999.00

The Firm (and Mr. Dutton) vehemently deny any wrongdoing or liability to Claimant, and assert that the investment at issue (a) was entirely suitable based on information available to Mr. Dutton at the time of purchase in 2008 and (b) was fully and accurately described to Claimant. After partially prevailing on its motion to dismiss this case, the Firm decided to resolve the remaining claims in this this matter, without any admission of liability whatsoever, for an amount that was substantially less than the costs of defending this case through a final hearing. Mr. Dutton, who was not a named respondent in this arbitration, is considering seeking expungement of this matter in accordance with FINRA rules.

CUSTOMERS ALLEGE THAT ACCOUNTS WERE INAPPROPRIATELY HANDLED BY THEIR RR.CUSTOMERS BELIEVED THAT THEY WERE FALSELY INFLUENCED AND CERTAIN PURCHASES WERE MISREPRESENTED.ALLEGED DAMAGES WERE UNSPECIFIED BUT BELIEVED TO BE OVER $5000

$5,000.00

THIS COMPLAINT APPEARS TO BE CLOSED

PRUDENTIAL SECURITIES INCORPORATED

Permitted to Resign

NOT PROVIDED MY NAME AND WORK TELEPHONE NUMBER WAS PLACED ON THE INTERNET WHICH RESULTED IN A CONVERSATION WITH A PERSON IN A STATE WHERE I WAS NOT REGISTERED.

PERMITTED TO RESIGN I ABSOLUTELY HAD NO KNOWLEDGE OF OR INVOLVEMENT WITH MY NAME BEING POSTED ON THE INTERNET. I DID HAVE A TELEPHONE CONVERSATION WITH A PERSON IN A STATE WHERE I WAS NOT REGISTERED. I WAS IN THE PROCESS OF GETTING REGISTERED IN THAT STATE AT THE TIME I WAS ALLOWED TO RESIGN. I CONTACTED THE NASD AND I WAS CLEARED OF ANY WRONGDOING REGARDING MY NAME BEING ON THE INTERNET.