Dainforth Baker French Jr. of Troy Michigan a stockbroker currently employed by L.M. Kohn Company is the subject of a customer initiated investment related arbitration claim which was resolved for $33,000.00 in damages supported by accusations of the mismanagement of the customer’s investment account and the failure of the firm to supervise transactions effected in the customer’s account. Financial Industry Regulatory Authority (FINRA) Arbitration No. 15-01418 (Nov. 14, 2017).
FINRA Public Disclosure reveals that French is referenced in three more customer initiated investment related disputes pertaining to allegations of French’s violative conduct during the time that he was associated with Leonard & Company. Specifically, a customer filed an investment related civil action involving French’s activities where the customer sought $700,000.00 in damages founded on accusations including: breach of fiduciary duty; conspiracy to violate the Uniform Securities Act of the State of Michigan; conspiracy to violate Securities and Exchange Act of 1934 Section 10(b); fraud; and misrepresentation. Case No. 12973 (July 6, 2012). The customer contended that omissions and misrepresentations had been made, investment losses had been fraudulently concealed, and the firm neglected to conduct reasonable due diligence on private placements sold to the customer.
Subsequently, a customer initiated investment related arbitration claim concerning French’s conduct was settled to resolve allegations that French, as the director of policies and management of Leonard & Company, failed to supervise a registered representative who committed sales practice violations pertaining to the customer’s investment account. FINRA Arbitration No. 12-02682 (June 27, 2014). Moreover, a customer filed an investment related arbitration claim regarding French’s conduct in which the customer requested $590,780.00 in damages based upon accusations that French was liable for the sales practice violations of his subordinate registered representative. FINRA Arbitration No. 18-01283 (Apr. 30, 2018).
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