Stephen H. Orr, of Houston, Texas, a stockbroker with H. Beck, Inc., has been named in a customer dispute where the customer is seeking $5,000,000.00 in damages based upon the allegations that Orr made unsuitable investment recommendations.
FINRA’s BrokerCheck reveals that Orr has been previously subject to five other disclosure incidents, three of which involve customer disputes regarding unsuitable recommendations. Particularly, on February 6, 2013, Orr settled a customer dispute for $200,000.00 in damages after a customer alleged that Orr made investment recommendations in direct participation programs that were not suitable.
On August 2, 2013, Orr settled a customer dispute for $900,000.00 in damages after customers alleged that Orr made misrepresentations concerning investments, and engaged in unsuitable investment recommendations regarding direct participation programs. Orr was also subject to a customer dispute on February 18, 2014, in which the customer requested $5,000.00 in damages after alleging that Orr made unsuitable investment recommendations in non-traded real estate investment trusts.
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