There are options for clients of Spartan Capital Securities, LLC broker John Lowry (CRD# 4336146) who suffered investment losses. John Lowry has been registered with Spartan Capital Securities, LLC in New York, New York since 2008.
In October 2021, “Lowry was a named respondent in a FINRA complaint alleging that he willfully failed to amend, or to timely amend, his Form U4 to disclose arbitration filings and resolutions thereof. The complaint alleges that Lowry was named as a respondent in, or was the subject of, multiple consumer-initiated arbitrations alleging that he was involved in one or more sales practice violations. Lowry was obligated to amend his Form U4 to disclose the filing and resolution of each customer arbitration against him within 30 days of learning of the filing and outcome. Despite Lowry being made aware of his disclosure failures, he has still not amended his Form U4 to disclose almost all of the arbitrations against him.”
John Lowry Customer Complaints
John Lowry has been the subject of nine customer complaints between 2009 and 2021, two of which were closed without action, according to his CRD report. The most recent complaints are regarding:
August 2021. “Time Frame: August 2015 to September 2015. Alleged Allegations: Unsuitable Investment, Breach of Fiduciary Duty, Negligence, Breach of Contract.” The customer is seeking $1,410,000 in damages and the case is currently pending.
June 2020. “Lowry was named in a customer complaint that asserted the following causes of action: Reasonable-Basis Suitability Obligations to Claimants; Specific Suitability Obligations to Claimants; Quantitative Suitability Obligations to Claimants; Failure to Supervise; and Violations of FINRA Rule 2010.” The customer is seeking $240,000 in damages and the case is currently pending.
May 2019. “Claimant filed a counter claim as a retaliation tactic alleging misrepresentations.” The case is currently pending.
September 2018. “Claimant allegations are vague and non-specific claim requesting rescission for authorized purchases.” The customer sought $965,180 in damages and the case was settled for $300,000. The complaint was regarding private placements.
December 2016. “There are no specific allegations against applicant. Applicant was solely named due to his position at the Firm with no basis.” The customer sought $721,070 in damages and the case was settled for $210,000.
April 2016. “Claimant alleges that his account was mismanaged by his registered representative. There are no specific allegations against the applicant.” The customer was granted $41,842 in damages. The complaint was regarding equity OTC.
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, Spartan Capital Securities, LLC may be liable for investment or other losses suffered by John Lowry’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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