16 FINRA Arbitration Claims Have Been Brought Against Broker James Dunn
In December 2021, Shepherd Smith Edwards and Kantas (SSEK Law Firm at investorlawyers.com) published a blog post announcing that we are investigating claims of investor losses involving ex-Ameriprise Financial Services broker James William Dunn.
At the time, according to Dunn’s BrokerCheck record, he had been named in a handful of customer disputes seeking to recover damages for losses. That number has more than tripled to 16 investor cases.
A former Virginia financial advisor, James Dunn, was an Ameriprise registered representative from 2019 to late 2021. This was when the firm allowed him to resign for possibly violating company policy related to unauthorized trades, unsuitability, and texting with clients.
Dunn was a registered broker and investment advisor for nine years. Previous brokerage firms where he also used to work include Wells Fargo Clearing Services and Morgan Stanley.
Recent Customer Disputes Filed Against Broker James Dunn
Most customer disputes involving James Dunn allege the unauthorized purchase of equities securities in their accounts. Here are the ones that were recently added:
- January 2022: This investor agreed to an over $69K settlement.
- December 2021: A $380,549 settlement was reached with this customer.
- December 2021: These investors settled for $299,568.
- December 2021: This unauthorized trading claim is pending over $178,559 in damages request.
- December 2021: An over $35K settlement was reached with this investor.
- December 2021: This client agreed to a more than $1.1M settlement.
- December 2021: Another unauthorized trading case, was settled for over $191K.
- December 2021: This claimant agreed to a more than $145K settlement.
- November 2021: This investor is requesting over $97K in damages.
- November 2021: This claimant wants over $72K in damages.
- November 2021: This claimant is requesting nearly $256K in damages.
While some of these claims have already been settled, several claims are still pending. If you were a customer of Ameriprise Financial broker, James Dunn it is essential that you seek legal advice. By working with experienced investment fraud lawyers, you can recover your financial losses.
Unauthorized Trading Facts Investors Need to Know
This type of unsanctioned trading happens when a broker sells, buys, or exchanges securities for a customer without their consent or authorization. Unauthorized trading is a violation of FINRA regulations. It also can be grounds for FINRA arbitration claim should damages ensue.
Knowledgeable Securities Law Firm
Please contact SSEK Law Firm for your free securities fraud case consultation. You might have grounds to pursue damages against Ameriprise Financial if it failed to supervise broker James Dunn properly and enabled him to trade in customers’ accounts without authorization. Call our seasoned unauthorized trading attorneys at (800) 259-9010 today.