Donald Stephen Woods of Louisville Kentucky a stockbroker formerly registered with LPL Financial LLC is referenced in a customer initiated investment related complaint on June 3, 2019 where the customer sought damages estimated to exceed $5,000.00 supported by accusations that (1) bad recommendations of alternative investments including business development companies had been made to the customer (2) there were non-disclosures about fees and risks of a variable annuity sold to the customer and (3) misrepresentations had been made concerning the alternative investments.
Financial Industry Regulatory Authority (FINRA) Public Disclosure reveals that Woods is referenced in nine additional customer initiated investment related disputes pertaining to allegations of his violative conduct when he was employed by LPL Financial. Specifically, on May 14, 2018, a customer filed an investment related complaint involving Woods’ activities in which the customer requested $105,072.00 in damages based upon allegations of the alteration of documents; and improper statements and omissions concerning variable annuity, mutual fund, and alternative investment products which the customer had been placed into while Woods was associated with LPL Financial.
Woods is the subject of a customer initiated investment related complaint on February 11, 2019 where the customer sought $350,000.00 in damages founded on allegations that business development company and real estate security products were unsuitable and misrepresented; and the purchases of those products led the customer to experience unwarranted losses. On March 11, 2019, another customer filed an investment related complaint regarding Woods’ conduct in which the customer requested more than $5,000.00 in damages based upon accusations of misrepresentation and bad advice relating to alternative investments sold by Woods when he was associated with LPL Financial.
Additionally, on April 9, 2019, a customer initiated investment related complaint concerning Woods’ activities was settled for $61,852.07 in damages supported by accusations that the customer’s account profile was altered without the customer’s permission; unsuitable trades real estate securities had been sold to the customer; and false or misleading statements were made relating to those investments. On July 16, 2019, another customer initiated investment related complaint in regard to Woods’ conduct was resolved for $96,480.00 in damages founded on accusations that the customer’s signature had been forged or altered on documents to effect transactions; instructions were disregarded; trades failed to be suitable; and false or misleading statements had been made to the customer concerning mutual funds and alternative investments.
Woods’ registration with LPL Financial has been terminated as of January 20, 2017. Between December 22, 2016 and August 15, 2018, Woods was employed by Thurston Springer Financial.
