Gary Jesse Deardorff of Peoria Arizona a stockbroker formerly employed by National Planning Corporation is the subject of a customer initiated investment related written complaint on February 28, 2017 in which the customer sought damages estimated to exceed $5,000.00 in damages founded on allegations that Deardorff executed unsuitable mutual fund and equity transactions in the customer’s investment portfolio.
Financial Industry Regulatory Authority (FINRA) Public Disclosure confirms that Deardorff has been identified in four additional customer initiated investment related disputes containing accusations of Deardorff’s misconduct while employed with Linsco/Private Ledger Corp. and Next Financial Group, Inc. Specifically, a customer initiated investment related arbitration claim involving Deardorff’s conduct was settled for $145,000.00 in damages based upon allegations that the customer was placed in stocks and variable annuity products that were inappropriate. National Association of Securities Dealers (NASD) Arbitration No. 03-02172 (June 7, 2004).
Subsequently, a customer initiated investment related arbitration claim concerning Deardorff’s activities was resolved for $140,000.00 in damages supported by accusations that inappropriate stock and options recommendations had been made to the customer. NASD Arbitration No. 03-02691 (June 15, 2004). On February 4, 2004, a customer filed an investment related complaint involving Deardorff’s activities where the customer requested $50,000.00 in damages founded on allegations that Deardorff was dissuaded from selling a Tyco investment, which caused the customer to sustain losses.
Furthermore, a customer initiated investment related arbitration claim regarding Deardorff’s conduct was settled for $75,000.00 in damages based upon accusations against Deardorff of mismanaging the customer’s accounts and making bad investment recommendations to the customer concerning mutual fund, equity and variable annuity products.
Deardorff’s registration with National Planning Corporation has been terminated as of October 19, 2017.
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