Raymond James & Associates, Inc. broker Maria Hendershot (CRD# 818681) is accused of sector concentration leading to investor losses. Hendershot has been registered with Raymond James & Associates, Inc. in Houston, Texas since 2006.
Raymond James & Associates, Inc. has been the subject of five customer complaints between 1994 and 2019, according to her CRD report. Recent complaints are regarding:
- August 2019. “Unsuitable Investments, Misrepresentations and Omissions, Overconcentation, Violation of FINRA Rule 2210, Negligence, Respondeat Superior.” The customer is seeking $175,000 in damages and the case is currently pending. This case is regarding sector concentration and direct investments.
- November 2018. “Breach of Contract and Warranties, Promissory Estoppel, Violation of Provisions of The Texas State Securities Statutes, Ann. Tx Civil Statutes Art. 581-33, Violation of Fraud Statutes of Texas Bc. Code Ann. § 27.01, Violation Of The Texas Deceptive Trade Practices Act Bc. Code Ann. § 17.46 and Tex Bc. Code Ann. § 17.50, Breach of Fiduciary Duty & Vicarious Liability. Activity Dates 01/15/2015 – 09/12/2016.” The customer is seeking $500,000 in damages and the case is currently pending. This case is regarding common and preferred stocks and sector concentration.
- October 2017. “Activity period 06/30/2014 – 07/31/2015 Claimant alleges: Gross mismanagement of accounts, investor abuse, churning, breach of fiduciary duty, negligence, violation of industry rules.” The customer sought $100,000 and the case was settled for $75,000 in damages. This case was regarding direct investments, sector concentration, and common and preferred stocks.
- January 2016. “Suitability, Over-concentration, Breach of Fiduciary Duty, Texas Securities Act Claim; Fraud by Misrepresentation and Omission, Negligent Misrepresentation. Dates 2/3/2006 through 12/31/2015.” The customer sought $1.5 million and the case was settled for $285,000. This case was regarding equity OTC, common and preferred stocks, and limited partnerships.
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, Raymond James & Associates, Inc. may be liable for investment or other losses suffered by Hendershots’ 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.
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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 below for a free consultation.
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