Charles Elmer Sorensen II of North Logan Utah a stockbroker currently registered with Allegis Investment Services LLC is the subject of a customer initiated investment related arbitration claim in which the customer sought $121,672.00 in damages supported by allegations that (1) trades were executed in the customer’s discretionary account that were not suitable for the customer and (2) misrepresentations had been made to the customer concerning an options investment strategy. American Arbitration Association (AAA) Arbitration No. 01-18-0000-6514 (Mar. 3, 2018).
Financial Industry Regulatory Authority (FINRA) Public Disclosure reveals that Sorensen is referenced in four additional customer initiated investment related disputes pertaining to accusations of his wrongdoing while employed by Allegis. For example, on January 26, 2016, a customer filed an investment related complaint regarding Sorensen’s conduct where the customer requested $234,000.00 in damages based upon allegations that the risks of options had been misrepresented to the customer.
Subsequently, on June 27, 2016, a customer filed an investment related complaint concerning Sorensen’s activities in which the customer sought $94,133.36 in damages founded on accusations that an unsuitable options strategy was implemented in the customer’s account. On January 26, 2017, another customer initiated investment related complaint involving Sorensen’s conduct was settled for $38,000.00 in damages supported by allegations that Sorensen effected unauthorized options and mutual fund trades in the customer’s account.
Further, a customer filed an investment related arbitration claim regarding Sorensen’s conduct where the customer requested $107,000.00 in damages based upon accusations that Sorensen neglected to execute a stop loss on an advisory account’s options strategy, causing the customer to incur investment losses. FINRA Arbitration No. 17-02098 (Sept. 13, 2017).
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