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ATTORNEY CLAIMS THE STOCKS RECOMMENDED BY IR, GARY KLOSSNER, WERE NOT SUITABLE RECOMMENDATIONS OR BASED ON THE ACCOUNT INFORMATION PROVIDED BY THE CLIENTS AS TO THEIR FINANCIAL STATUS, TAX STATUS, OR INVESTMENT OBJECTIVES.
CLAIM EXCEEDS $5,000.
Damage Amount Requested
$5,000.00
Broker Comment
UPON REVIEW OF THE MATTER, AN OFFER TO SETTLE THE CLIENT'S COMPLAINT WAS MADE TO CLIENT IN THE AMOUNT OF $5,000, VIA COUNSEL FOR CLIENT. TO DATE, NO RESPONSE HAS BEEN RECEIVED FROM CLIENT'S COUNSEL. THE FIRM THEREFORE CONSIDERS THIS MATTER CLOSED.
8/22/2002
Customer Dispute
Closed-No Action
Allegations
ATTORNEY CLAIMS THE STOCKS RECOMMENDED BY IR, GARY KLOSSNER, WERE NOT SUITABLE RECOMMENDATIONS OR BASED ON THE ACCOUNT INFORMATION PROVIDED BY THE CLIENTS AS TO THEIR FINANCIAL STATUS, TAX STATUS, OR INVESTMENT OBJECTIVES. CLAIM EXCEEDS $5,000
Damage Amount Requested
$5,000.00
Broker Comment
ACCORDING TO THE IR, THE ONLY TRANSACTION CONDUCTED BY THE CLIENTS UPON TRANSFER OF THEIR ACCOUNT INTO THE FIRM WAS THE SALE OF 450 SHARES OF COMPAQ STOCK ON SEPTEMBER 17, 2001. UPON REVIEW OF THE MATTER BY COUNSEL FOR THE FIRM, IT WAS DECIDED TO DENY THE CLIENTS' CLAIMS. NO OFFER OF SETTLEMENT EXTENDED TO CLIENTS BY THE FIRM.
8/22/2002
Customer Dispute
Closed-No Action
Allegations
ATTORNEY CLAIMS THE STOCKS RECOMMENDED BY IR, GARY KLOSSNER, WERE NOT SUITABLE RECOMMENDATIONS OR BASED ON THE ACCOUNT INFORMATION PROVIDED BY THE CLIENTS AS TO THEIR FINANCIAL STATUS, TAX STATUS, OR INVESTMENT OBJECTIVES.
CLAIM EXCEEDS $5,000
Damage Amount Requested
$5,000.00
Broker Comment
ACCORDING TO THE IR, THE CLIENTS SOUGHT TO BE AGGRESSIVE WITH THEIR STOCK INVESTMENTS AND OFTEN PURCHASED SPECULATIVE INVESTMENTS AGAINST THE ADVICE OF THE IR. UPON REVIEW OF THE MATTER BY COUNSEL FOR THE FIRM, IT WAS DECIDED TO DENY THE CLIENTS' CLAIMS. NO OFFER OF SETTLEMENT EXTENDED TO CLIENTS BY THE FIRM.
8/22/2002
Customer Dispute
Closed-No Action
Allegations
ATTORNEY CLAIMS THE STOCKS RECOMMENDED BY IR, GARY KLOSSNER, WERE NOT SUITABLE RECOMMENDATIONS OR BASED ON THE ACCOUNT INFORMATION PROVIDED BY THE CLIENTS AS TO THEIR FINANCIAL STATUS, TAX STATUS, OR INVESTMENT OBJECTIVES.
CLAIM EXCEEDS $5,000
Damage Amount Requested
$5,000.00
Broker Comment
UPON REVIEW OF THE MATTER, AN OFFER TO SETTLE THE CLIENTS' COMPLAINT WAS MADE TO CLIENTS IN THE AMOUNT OF $3,500, VIA COUNSEL FOR CLIENTS. TO DATE, NO RESPONSE HAS BEEN RECEIVED FROM CLIENTS' COUNSEL. THE FIRM THEREFORE CONSIDERS THIS MATTER CLOSED.
8/22/2002
Customer Dispute
Closed-No Action
Allegations
ATTORNEY CLAIMS THE STOCKS RECOMMENDED BY IR, GARY KLOSSNER, WERE NOT SUITABLE RECOMMENDATIONS OR BASED ON THE ACCOUNT INFORMATION PROVIDED BY THE CLIENTS AS TO THEIR FINANCIAL STATUS, TAX STATUS, OR INVESTMENT OBJECTIVES.
CLAIM EXCEEDS $5,000
Damage Amount Requested
$5,000.00
Broker Comment
UPON REVIEW OF THE MATTER, AN OFFER TO SETTLE THE CLIENT'S COMPLAINT WAS MADE TO CLIENT IN THE AMOUNT OF $3,000, VIA COUNSEL FOR CLIENT. TO DATE, NO RESPONSE HAS BEEN RECEIVED FROM CLIENT'S COUNSEL. THE FIRM THEREFORE CONSIDERS THIS MATTER CLOSED.
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IA
Investment Adviser
An investment adviser is paid for providing advice about securities to clients. In addition, some investment advisers manage investment portfolios and offer financial planning services.
Disclosures
Disclosures can be customer complaints or arbitrations, regulatory actions, employment terminations, bankruptcy filings and certain civil or criminal proceedings that they were a part of.
Disclosures can be customer complaints or arbitrations, regulatory actions, employment terminations, bankruptcy filings and certain civil or criminal proceedings that they were a part of.