Galvin Legal is launching an investigation on behalf of investors who may have suffered losses investing with Greg Ellis. If you suffered losses investing with Greg Ellis, then Galvin Legal may be able to help you recover your losses in a Financial Industry Regulatory Authority (“FINRA“) arbitration claim.
Greg Ellis (CRD# 4046935)
As of December 18, 2017, Greg Ellis’s FINRA BrokerCheck Report contains the following:
Disclosure Events
11 Customer Dispute(s)
7/22/2015 – Customer Dispute – Settled
Allegations: ALLEGED UNSUITABILITY, BREACH OF DUTIES OF TRUST AND LOYALTY, BREACH OF FIDUCIARY DUTY, NEGLIGENCE, AND VIOLATION OF LOUISIANA CIVIL CODE. ACTIVITIES DATED 05/2005-02/2009.
Settlement Amount: $445,000.00
4/23/2015 – Customer Dispute – Award / Judgment
Allegations: BREACH OF FIDUCIARY DUTY, FRAUD, MISREPRESENTATION AND NON-DISCLOSURE, NEGLIGENCE AND GROSS NEGLIGENCE, BREACH OF CONTRACT, VIOLATION OF THE LOUISIANA BLUE SKY LAW, AND UNJUST ENRICHMENT.
Damages Granted: $307,000.00
1/14/2015 – Customer Dispute – Settled
Allegations: ALLEGED UNSUITABILITY, BREACH OF DUTIES OF TRUST AND LOYALTY, BREACH OF FIDUCIARY DUTY, NEGLIGENCE, AND VIOLATION OF LOUISIANA CIVIL CODE. ACTIVITY DATED 6/2004-08/2009.
Settlement Amount: $42,500.00
4/10/2014 – Customer Dispute – Settled
Allegations: ALLEGED VIOLATIONS OF FEDERAL SECURITIES LAWS, VIOLATION OF LOUISIANA SECURITIES ACT, BREACH OF CONTRACT, COMMON LAW FRAUD, BREACH OF FIDUCIARY DUTY, AND NEGLIGENCE. ACTIVITIES DATED FROM 3/28/2005-06/24/2009.
Damage Amount Requested: $1,275,000.00
Settlement Amount: $243,227.00
12/20/2013 – Customer Dispute – Settled
Allegations: CLIENT ALLEGES UNSUITABLE INVESTMENTS, MISREPRESENTATION AND OMISSIONS, BREACH OF FIDUCIARY DUTY, BREACH OF CONTRACT, NEGLIGENCE,& VIOLATIONS OF LA SECURITIES LAWS. ALLEGED ACTIVITIES OCCURRED BETWEEN OCTOBER 2003 AND JUNE 2009.
Damage Amount Requested: $3,260,000.00
Settlement Amount: $320,000.00
12/10/2013 – Customer Dispute – Settled
Allegations: CLIENT ALLEGES UNSUITABLE INVESTMENTS DURING THE TIME PERIOD OF JANUARY 2008-MAY 2008.
Settlement Amount: $91,000.00
2/4/2013 – Customer Dispute – Settled
Allegations: ALLEGED BREACH OF FIDUCIARY DUTY, FRAUD, MISREPRESENTATION AND NON DISCLOSURE,NEGLIGENCE, BREACH OF CONTRACT, VIOLATION OF LOUISIANA BLUE SKY LAW.
Settlement Amount: $1,262,081.74
11/8/2011 – Customer Dispute – Settled
Allegations: ALLEGED BREACH OF FIDUCIARY DUTY, MISREPRESENTATIONS AND OMISSIONS, NEGLIGENCE, VIOLATION OF LOUISIANA SECURITIES LAWS, AND BREACH OF CONTRACT. ACTIVITIES DATED 8/1/2006-2011.
Damage Amount Requested: $330,000.00
Settlement Amount: $110,000.00
9/6/2011 – Customer Dispute – Settled
Allegations: CLAIMANT ALLEGES LACK OF SUITABILITY, BREACH OF FIDUCIARY DUTIES, AND MISREPRESENTATION. ACTIVITIES DATED 06/04/2008-03/21/2010.
Damage Amount Requested: $300,000.00
Settlement Amount: $80,000.00
6/17/2010 – Customer Dispute – Settled
Allegations: ALLEDGED UNSUITABILITY AND BREACH OF FIDUCIARY DUTY
Damage Amount Requested: $1,700,000.00
Settlement Amount: $350,000.00
5/7/2010 – Customer Dispute – Settled
Allegations: ALLEGED MISREPRESENTATION AND UNSUITABLE RECOMENDATIONS.
Damage Amount Requested: $75,000.00
Settlement Amount: $33,000.00
Broker Comment: CUSTOMER SUBMITTED A COMPLAINT THROUGH FINRA WEBSITE. CUSTOMER WAS REFERRED TO RR THROUGH HIS FATHER. CUSTOMER INQUIRED ABOUT OIL AND GAS PROGRAMS BECAUSE HIS DAD HAD INVESTED IN THEM AND CUSTOMER WAS LOOKING FOR A WAY TO REDUCE HIS INCOME TAX LIABILITY DUE TO THE SALE OF A BUSINESS. RR RECOMMENDED BLACK DIAMOND 2006-B AND RELIED UPON THE PROSPECTUS INFORMATION. RR DID NOT REFUSE TO LIQUIDATE CUSTOMER’S INVESTMENT. RR INQUIRED ABOUT LIQUIDITY OPTIONS BUT WAS TOLD BY PRESIDENT OF INVESTMENT COMPANY THAT THERE WERE NO REDEMPTION OPTIONS AT THE TIME.
Current and Previous Registrations
02/18/2000 – 04/21/2010 VSR FINANCIAL SERVICES, INC. (CRD#:14503) – BATON ROUGE, LA
11/17/1999 – 03/03/2000 H.D. VEST INVESTMENT SECURITIES, INC. (CRD#:13686) – IRVING, TX
FINRA requires brokerage firms to conduct due diligence on investments and to conduct a suitability analysis when recommending securities to a customer that takes into account the customer’s knowledge and experience. Brokerage firms that fail to conduct adequate due diligence or that make unsuitable recommendations can be held responsible for the customer’s losses in a FINRA arbitration claim.
If you suffered losses investing with Greg Ellis and would like a free consultation with a securities attorney, then please call Galvin Legal at 1-800-405-5117.
Galvin Legal is a national securities arbitration, mediation, fraud, and investor protection law practice. For more information on Galvin Legal, please visit www.galvinlegal.com or call 1-800-405-5117.