John Peter Purcell, of Albany, New York, a stockbroker registered with Purshe Kaplan Sterling Investments, was the subject of a customer initiated investment related Financial Industry Regulatory Authority (FINRA) securities arbitration claim in which the customer requested $2,160,000.00 in damages based upon allegations that Purcell made misrepresentations of material fact and was negligent in connection with the sale of real estate securities when Purcell was associated with Purshe Kaplan Sterling Investments. FINRA Arbitration No. 24-01290 (June 20, 2024).
FINRA Public Disclosure shows that Purcell was referenced in five other customer initiated investment related disputes concerning Purcell’s conduct while associated with securities broker dealers. On July 5, 2000, a customer initiated investment related NASD securities arbitration claim involving Purcell’s conduct resulted in the customer being awarded $55,520.00 in compensatory damages because Purcell and Purshe Kaplan Sterling Investments were held liable on the customer’s claims, which included that Purcell engaged in churning, made unsuitable investment recommendations, committed fraud, concealed information, converted funds, breached his fiduciary duties, and breached a contract. FINRA Arbitration No. 99-01658.
On March 30, 2006, a securities arbitration claim involving Purcell’s conduct was settled for $40,000.00 in damages based upon allegations that Purcell failed to supervise certain representatives in connection with the sale of stocks. Arbitration No. 08237.
On June 22, 2006, a NASD securities arbitration claim involving Purcell’s conduct resulted in the customer being awarded $299,545.00 in compensatory damages because Purcell and Purshe Kaplan Sterling Investments were held liable for sales practice violations. NASD Arbitration No. 05-01834. The Statement of Claim alleged Purcell failed to supervise certain representatives in connection with the sale of technology stocks and mutual funds when Purcell was associated with Purshe Kaplan Sterling Investments.
Purcell was also referenced in a FINRA securities arbitration claim that was settled for $99,000.00 in damages based upon allegations that Purcell failed to supervise the registered representative of record for an account held away from the securities broker dealer. FINRA Arbitration No. 15-00303 (November 3, 2015).
Purcell has been associated with Purshe Kaplan Sterling Investments in Albany, New York, since April 15, 199
