Donald Allen Kartoon, of Beverly Hills, California, a stockbroker formerly registered with Morgan Stanley, is the subject of a customer initiated investment related arbitration claim, where the customer was awarded $4,000.00 in damages on April 6, 2017, based upon allegations that Kartoon failed to abide by the customer’s instructions to sell the customer’s position in Allianz GI Convertible & Income Fund II.
Financial Industry Regulatory Authority (FINRA) Public Disclosure reveals that Kartoon has been identified in six additional customer initiated investment related disputes containing allegations of Kartoon’s misconduct while employed with Wachovia Securities, LLC, Salomon Smith Barney, and Oppenheimer & Co., Inc. In particular, on July 20, 2001, a customer initiated investment related written complaint involving Kartoon’s conduct was settled for $262,500.00 in damages based upon allegations that he effected trades in the customer’s account on an excessive basis, negligently handled the customer’s investment account, and breached his fiduciary duties to the customer.
On August 15, 2008, a customer initiated investment related complaint was resolved for $250,000.00 in damages supported by allegations of misrepresentation regarding the customer’s auction rate securities investment. Another customer initiated investment related dispute was resolved on August 15, 2008, for $475,000.00 in damages based upon allegations that Kartoon failed to place the customer’s funds in the money market, where Kartoon instead effected the purchase of auction rate securities.
Kartoon’s registration with Morgan Stanley was terminated on May 22, 2017. As of May 19, 2017, he has been associated with Hilltop Securities Inc.
Guiliano Law Group
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