Former Rhodes Securities Customer Wins $810,000 Complaint for Breach of Fiduciary Duty, Negligence, and Breach of Contract
Posted on Monday, August 13th, 2018 at 2:09 pm
Erez Law is currently investigating Rhodes Securities owner and chairman Jim Gordon Rhodes (CRD# 813870), CEO J. Gordon Rhodes (CRD# 4763582) and president and COO Marilyn Zehntner (CRD# 2645697) regarding breach of fiduciary duty, negligence, and breach of contract.
Rhodes has been registered with Rhodes Securities in Fort Worth, Texas since 1987. Zehntner and J. Rhodes have been registered with Rhodes Securities in Fort Worth, Texas since 2004.
Rhodes, J. Rhodes and Zehntner have been the subject of two customer complaints in 2017, according to their CRD reports:
September 2017. “Client alleges unsuitable investments, breach of fiduciary duty and failure to supervise.” The customer is seeking $250,000 in damages and the case is currently pending.
January 2017. “Client alleges breach of fiduciary duty, negligence, and breach of contract.” The customer sought $2 million in damages and the case was settled for $810,000. The case involved 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, Rhodes Securities may be liable for investment or other losses suffered by its 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.