First Kentucky Sued By Investors For Fraud

William Cranston Fenwick Jr. (also known as Bill Fenwick) of Louisville Kentucky a stockbroker currently registered with First Kentucky Securities Corporation is the subject of a customer initiated investment related arbitration claim where the customer requested unspecified damages supported by allegations that (1) the customer’s account was administered negligently (2) contractual obligations had been breached (2) transactions ran afoul of Kentucky Securities Act (4) fiduciary duties owed by the stockbroker had been violated (5) the customer was exposed to fraudulent oil and gas investment transactions and (6) First Kentucky Securities Corporation failed to supervise Fenwick’s activities which included inappropriately placing the customer in Linn Energy and BreitBurn Energy. Financial Industry Regulatory Authority (FINRA) Arbitration No. 19-01006 (Apr. 11, 2019). FINRA Public Disclosure reveals that Fenwick is referenced in three additional customer initiated investment related disputes that concern accusations of Fenwick’s misconduct while employed with Advest and First Kentucky Securities Corporation. Specifically, a customer initiated investment related complaint in regard to Fenwick’s conduct was resolved for $25,000.00 in damages founded on allegations that during the time that Fenwick was associated with Advest, false or misleading statements had been made concerning mutual funds; and mutual funds including Munder NetNet Fund failed to be suitable for the customer and had poorly performed. Fenwick is also the subject of a customer initiated investment related arbitration claim in which the customer was awarded $35,000.00 in compensatory damages based upon accusations including the violation of Texas Civ. Stat. Art. 581-33; breach of the duty of fair dealing; supervisory failures; and fraudulent recommendations of Eventide Gilead, BreitBurn Energy and Linn Energy LLC stocks for the customer’s investment portfolio. FINRA Arbitration No. 17-01188 (May 15, 2018). Another customer initiated investment related arbitration claim resulted in the customer being awarded $131,032.00 in compensatory damages based upon First Kentucky Securities Corporation having been found liable on the customer’s claims which included violation of KRS 292.320(1)(b) and 292.320(2); breach of contractual and fiduciary obligations; and negligence as it pertained to the speculative and aggressive BreitBurn Energy and Linn Energy LLC oil related stocks that had been purchased for the customer’s account. FINRA Arbitration No. 17-00157 (Apr. 18, 2019). Fenwick became registered with First Kentucky Securities Corporation on November 3, 2005.