Stifel, Nicolaus & Company, Incorporated broker John Russell (CRD# 728702) faces a customer complaint about investment losses. Russell has been registered with Stifel, Nicolaus & Company, Incorporated in Clayton, Missouri since 1988.
Russell has been the subject of three customer complaints between 2007 and 2018, one of which was denied, according to his CRD report:
- August 2018. “Claimant alleges breach of fiduciary duty, fraudulent misrepresentation, negligent misrepresentation, negligence and civil conspiracy.” The customer sought $3 million in damages and the case was settled for $800,000.
- September 2011. “Client alleges losses on the purchase of a bond out of the parameters that the client claims to have agreed upon with registered representative. Timeframe: 12/10/07 – 12/10/07.” The customer sought $43,304.19 in damages and the case was settled for $38,562.88.
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, Stifel, Nicolaus & Company, Incorporated may be liable for investment or other losses suffered by Russell’s customers.
Erez Law represents investors in the United States for claims against brokers and brokerage firms for wrongdoing. If and 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.