James Marten Lamont of San Francisco California a stockbroker currently registered with Whitehall-Parker Securities Inc. is the subject of a customer initiated investment related civil action where the customer sought unspecified damages based upon allegations that Lamont sold insurance contracts to the customer that were misrepresented and unsuitable for the customer. Civil Action No. CIV-1801542 (May 7, 2018).
Financial Industry Regulatory Authority (FINRA) Public Disclosure confirms that Lamont is referenced in ten additional customer initiated investment related disputes containing accusations of Lamont’s violative conduct while employed with Parkland Securities (f/k/a/ Sammons Securities Company, LLC), Sigma Financial Corporation and Independent Financial Group, LLC. Specifically, a customer initiated investment related arbitration claim involving Lamont’s conduct was resolved for $93,400.00 in damages supported by allegations that fiduciary duties owed to the customer had been breached, and misrepresentations and omissions had been made to the customer in reference to tenant-in-common real estate security investments. FINRA Arbitration No. 09-04930 (Oct. 18, 2010).
Subsequently, a customer initiated investment related arbitration claim regarding Lamont’s activities was settled for $335,000.00 in damages founded on accusations that the customer’s tenant in common investments were induced by misrepresentations. FINRA Arbitration No. 11-02988 (Aug. 6, 2012). Another customer initiated investment related arbitration claim concerning Lamont’s conduct was resolved for $250,000.00 in damages based upon allegations that tenant-in-common investments were misrepresented; the customer’s investment portfolio was negligently handled; and fiduciary duties failed to be fulfilled. FINRA Arbitration No. 11-02940 (Oct. 25, 2012). Then, a customer initiated investment related arbitration claim involving Lamont’s activities was settled for $210,000.00 in damages supported by accusations including omissions, misrepresentation, negligence, and breach of fiduciary duty regarding the customer’s tenant-in-common purchases. FINRA Arbitration No. 11-03345 (Nov. 13, 2012).
Further, a customer initiated investment related arbitration claim regarding Lamont’s conduct was settled for $60,500.00 in damages based upon accusations that contractual obligations were breached; transactions were effected in the customer’s account that were not suitable for the customer; Lamont violated securities laws on a state and federal level; and defrauded the customer in regard to direct participation program or limited partnership investments. FINRA Arbitration No. 12-03373 (July 17, 2013). Lamont is also the subject of a customer initiated investment related arbitration claim which was resolved for $160,000.00 founded on allegations that the customer was defrauded, and Sammons Securities Company failed to supervise Lamont’s activities in the customer’s account concerning tenant-in-common investments, real estate securities and equipment leasing products. FINRA Arbitration No. 12-00825 (July 25, 2013).
Moreover, a customer initiated investment related arbitration claim concerning Lamont’s activities was resolved for $99,000.00 in damages supported by allegations that an inadequate amount of due diligence was conducted on securities sold to the customer, and that fraudulent omissions had been made in regard to the terms and conditions of investing. FINRA Arbitration No. 13-00414 (Mar. 26, 2014). Thereafter, a customer initiated investment related arbitration claim involving Lamont’s conduct was settled for $27,500.00 in damages founded on accusations that oil & gas investments were not represented accurately to the customer at the time investments had been made, and contractual obligations were breached. FINRA Arbitration No. 13-02013 (Oct. 30, 2014).
In addition, a customer initiated investment related arbitration claim concerning Lamont’s activities was resolved for $87,500.00 in damages based upon allegations of misrepresentation, negligence, and breach of contract pertaining to the customer’s investment in tenant-in-common investments. FINRA Arbitration No. 14-03653 (Nov. 9, 2015).
Lamont’s registration with Independent Financial Group LLC has been terminated as of March 27, 2015. He has been employed by Whitehall-Parker Securities, Inc. since April 2, 2015.
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