Adam Ryan Jacobs,of Beachwood, Ohio, a stockbroker registered with Oppenheimer Co. Inc., is the subject of a pending customer initiated investment related Financial Industry Regulatory Authority (FINRA) securities arbitration claim.
FINRA Public Disclosure shows that the pending claim, filed on April 17, 2024 (FINRA Arbitration No. 24-00833), allegsd negligence, breach of fiduciary duty, breach of contract, and violations of state securities laws in connection with the sale of private placements, with alleged damages amounting to $500,000. Jacobs denies all allegations and intends to defend himself and the securities broker dealer against the claims, maintaining that he has always conducted himself professionally and appropriately.
In a separate case, the securities broker dealer settled a customer initiated investment related complaint that was filed on June 14, 2023 (FINRA Arbitration No. 23-01733). The customer alleged that Jacobs made unsuitable investment recommendations, breached his fiduciary duties, engaged in unauthorized trading, and failed to act in the customer’s best interest and was negligent, violated state securities laws, and with damages requested at $300,000. The case was resolved with a settlement of $53,000. Jacobs denied the allegations and stated that the settlement was made to avoid arbitration costs.
Jacobs has been associated with Oppenheimer Co. Inc. since April 24, 2009.
