Erez Law is currently investigating former Western International Securities, Inc. broker Christopher Kennedy (CRD# 4498061) regarding options losses. He was registered with Western International Securities, Inc. in Woodland Hills, California from December 2019 to September 2021, when he was terminated regarding, “Clients have alleged unauthorized options trading and failure to adhere to discretionary options sales orders.” Previously, he was registered with Spartan Capital Securities, LLC in New York, New York from July to December 2019, with Western International Securities, Inc. in Tarzana, California from 2017 to 2019, and with Financial West Group in Tarzana, California from 2009 to 2017.
Christopher Kennedy Customer Complaints
He has been the subject of nine customer complaints between 2008 and 2022, according to his CRD report. The most recent complaints are regarding:
March 2022. “Engaged in extensive and unauthorized trading without clients knowledge or consent.” The customer is seeking $2,500,000 in damages and the case is currently pending. The complaint was regarding options and stock losses.
January 2022. “Client alleged through counsel on August 24, 2021, that Kennedy had begun in February 2021 to use margin without approval of the Client family accounts and that during the week of July 26th Kennedy had engaged in improper options trading for Client. Claimant allegations, include but not limited to, Breach of Fiduciary duty.” The customer is seeking $5,424,035 in damages and the case is currently pending. The complaint was regarding options losses.
December 2021. “Client alleges breach of fiduciary duty, unauthorized trading, and breach of contract.” The customer sought $245,000 in damages and the case was settled for $125,000. The complaint was regarding options losses.
November 2021. “Customer expressed concern of the handling of his account.” The case was settled for $36,870.52. The complaint was regarding options losses.
November 2021. “Claimant raised concerns regarding misrepresentation and negligence in handling accounts. ”The case was settled for $40,731.26. The complaint was regarding options losses.
November 2021. “Claimant alleged breach of contract, fiduciary duty, and negligence in handling the account.” The customer is seeking $375,000 in damages and the case is currently pending. The complaint was regarding options losses.
September 2021. “The Client has alleged that his account lost 300K over the past few months and that Kennedy was trading without authority from the client or supervision from Western.” The case is currently pending. The complaint was regarding options losses.
September 2021. “Client alleged through counsel that Kennedy forged and denied access to client account statements in order to hide allegedly improper trading in the Client’s account occurring from December 2020 through August 2021, including options trading conducted in the last week of July 2021 which led to these allegations.” The case was settled for $2,760,000. The complaint was regarding options losses.
Pursuant to FINRA Rules, member firms are responsible for supervising a broker’s activities during the time the broker is registered with the firm. Therefore, Western International Securities, Inc. may be liable for investment or other losses suffered by Christopher Kennedy’s customers.
Erez Law represents investors in the United States for claims against brokers and brokerage firms for wrongdoing. If you have experienced investment losses, please call us at 888-840-1571 or complete our contact form for a free consultation. Erez Law is a nationally recognized law firm representing individuals, trusts, corporations and institutions in claims against brokerage firms, banks and insurance companies on a contingency fee basis.
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