Investigation of Former Janney Montgomery Scott LLC Broker Charles Euler Jr.
Posted on Tuesday, August 11th, 2020 at 10:02 pm
There are options for clients of former Janney Montgomery Scott LLC broker Charles Euler Jr. (CRD# 202696) who suffered investment losses. Euler was registered with Janney Montgomery Scott LLC in Radnor, Pennsylvania from 1984 to 2018.
In April 2020, FINRA barred Euler after he consented to the sanction and to the entry of findings that he refused to appear for on-the-record testimony requested by FINRA in connection with an investigation into whether he made unsuitable recommendations.
Euler has been the subject of seven customer complaints between 2004 and 2018, one of which was denied, according to his CRD report:
June 2018. “Client through his attorney alleges that the Financial Advisor recommended investments that were unsuitable and resulted in over-concentration and losses in his account.” The customer sought $77,313.04 in damages and the case was settled from $45,000. The complaint was regarding equity OTC.
January 2017. “Client alleges that her Financial Advisor recommended investments that were unsuitably risky and concentrated which resulted in unbalanced portfolios and losses in her accounts.” The customer sought $320,000 in damages and the case was settled for $150,000. The complaint was regarding common and preferred stocks.
May 2016. “Attorney for client alleges that the Financial Advisor misrepresented and omitted information about securities purchased in the account, made unsuitable investments and executed unauthorized trades.” The case was settled for $250,000. The complaint was regarding equity OTC.
April 2016. “Claimants allege that FA made unsuitable investments in their account.” The customer sought $157,000 in damages and the case was settled for $40,000. The complaint was regarding common and preferred stocks.
March 2016. “Claimants allege that unsuitable investments were made in their accounts.” The customer sought $300,000 in damages and the case was settled for $75,000. The complaint was regarding common and preferred stocks.
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, Janney Montgomery Scott LLC may be liable for investment or other losses suffered by Euler’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.