Securities Lawyers Blog
The securities lawyers of Gana Weinstein LLP are investigating customer complaints filed with The Financial Industry Regulatory Authority (FINRA) against broker Scott Palmer (Palmer). According to BrokerCheck records, Palmer is subject to at least five customer complaints. The customer complaints against Palmer allege securities law violations that claim unsuitable investments, excessive options trading, and unauthorized investments among other claims.
The most recent complaint was filed in July 2016, and alleged $125,000 in damages due to claims that the broker made unsuitable investments in clients account while employed at Janney Montgomery Scott LLC. The complaint was settled for $75,000.
In January 2015, another customer brought a complaint against Palmer alleging that investments in the customer’s account were unsuitable based on clients’ investment objectives causing alleged damages of $226,877. The complaint was settled for $70,000.