John Joseph Maloney III, of Morristown, Tennessee, a stockbroker formerly registered with Edward Jones, has been terminated from employment on May 10, 2016, based upon accusations that he failed to conform with the firm’s policies relating to the suitability of investment recommendations.
Financial Industry Regulatory Authority (FINRA) Public Disclosure reveals that Maloney has been identified in six customer initiated investment related disputes containing allegations of Maloney’s improper conduct during the time he was associated with Edward Jones. In particular, a customer initiated investment related arbitration claim involving Maloney’s conduct was settled for $150,000.00 in damages based upon accusations that Maloney executed unsuitable transactions in the customer’s account, made misrepresentations to the customer, and breached his fiduciary duties, causing the customer to sustain investment losses. National Association of Securities Dealers (NASD) Arbitration No. 04-03698 (Aug. 29, 2005).
Thereafter, a customer initiated investment related arbitration claim regarding Maloney’s activities was resolved for $132,500.00 in damages supported by allegations that Maloney made unsuitable equity investment recommendations to the customer. FINRA Arbitration No. 16-01706 (June 6, 2017). Afterwards, on September 8, 2017, a customer filed an investment related civil action pertaining to Maloney’s conduct in the Circuit Court for Hamblen County, Tennessee, in which the customer requested $2,000,000.00 in damages founded on accusations including churning, misrepresentation, suitability, breach of contract and breach of fiduciary duty relating to the customer’s stock portfolio transactions. Civil Action No. 17CV059 (June 14, 2017).
Further, on September 8, 2017, a customer filed an investment related written complaint pertaining to Maloney’s conduct, where the customer sought $329,823.72 in damages based upon allegations that Maloney poorly advised the customer to make a purchase of FireEye over-the-counter equity shares.
Maloney has also been subject of a customer initiated investment related arbitration claim in which the customer alleged churning, negligence, breach of contract, breach of fiduciary duty, suitability and misrepresentation in reference to equity transactions effected in the customer’s account between December 29, 1998 and May 10, 2016. FINRA Arbitration No. 17-03010 (Nov. 9, 2017).
Since June 27, 2016, Maloney has been registered with Woodbury Financial Services, Inc.
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