John Dennis Lowry, of New York, New York, a stockbroker and Chief Executive Officer of Spartan Capital Securities, is referenced in another customer initiated investment related FINRA securities arbitration claim in which the customer requested compensatory damages supported by allegations including failure to supervise, unauthorized trading, misrepresentation, unsuitability, breach of fiduciary duty, and churning concerning private placements and stocks between February of 2013 and December of 2021. Financial Industry Regulatory Authority (FINRA) Arbitration No. 21-02950.
FINRA Public Disclosure shows that Lowry has been identified in nine more customer initiated investment related disputes regarding accusations of his wrongdoing during the period that he was employed by Spartan Capital Securities. Lowry is named in a customer initiated investment related arbitration claim in which the customer alleged misrepresentation, fraud, breach of fiduciary duty, unauthorized trading, breach of contract, unsuitable trading, and excessive trading. FINRA Arbitration No. 15-01911. The Arbitrator determined that Lowry was liable and ordered him to pay $41,842.00 in compensatory damages.
Another customer brought an investment related arbitration claim against Lowry and Spartan Capital Securities alleging excessive trading, negligence, fraud, and failure to supervise concerning the customer’s account at Spartan Capital Securities. FINRA Arbitration No. 16-03605. Lowry and Spartan Capital Securities were found liable and ordered to pay the customer $210,000.00 in compensatory damages for sales practice violations in one account and $105,000.00 in compensatory damages for a violation in a second account.
On February 26, 2019, another customer initiated investment related arbitration claim involving Lowry’s conduct was settled for $300,000.00 in damages based upon allegations of bad private placement transactions at Spartan Capital Securities. FINRA Arbitration No. 18-03217.
On March 6, 2020, a different customer initiated investment related arbitration claim regarding Lowry’s activities was settled to resolve accusations that Lowry made misrepresentations to the customer while Lowry was employed by Spartan Capital Securities. FINRA Arbitration No. 18-01753.
Lowry is also identified in a customer initiated investment related arbitration claim where the customer sought $240,000.00 in damages founded on allegations of unsuitable and excessive transactions in the customer’s account at Spartan Capital Securities. FINRA Arbitration No. 20-02035 (June 26, 2020). The claim alleges failure to supervise and the violation of FINRA Rule 2010 relating to securities transactions.
Lowry is the subject of another customer initiated investment related arbitration claim in which the customer requested $1,410,000.00 in damages based upon accusations of an unsuitable private investment for the customer during the time that Lowry was associated with Spartan Capital Securities. FINRA Arbitration No. 21-01975 (August 12, 2021). The claim alleges negligence, breach of contract, and breach of fiduciary duty by Lowry.
Lowry has been charged by FINRA in a Complaint alleging that Lowry failed to disclose customer disputes containing allegations of his sales practice violations. Department of Enforcement v. Spartan Capital Securities et al. Disciplinary Proceeding No. 2019061528001 (October 19, 2021).
According to the Complaint, Lowry’s Forms U4 and U5 did not contain current information on customer arbitrations. Lowry supposedly failed to amend those documents in 38 instances. FINRA Department of Enforcement alleges that he violated FINRA Rules 2010 and 1122.
Lowry has been registered with Spartan Capital Securities since July 10, 2008.