Kevin Patrick McKenna of Wausau Wisconsin a stockbroker formerly associated with Stifel Nicolaus Company has been referenced in a customer initiated investment related arbitration claim in which the customer requested $600,000.00 in damages supported by allegations of unauthorized and fraudulent securities transactions by McKenna pertaining to direct participation program interests or limited partnership interests during the period in which McKenna was employed by Stifel Nicolaus. Financial Industry Regulatory Authority (FINRA) Arbitration No. 19-03606 (Dec. 6, 2019).
According to the claim, a contract had been breached by McKenna in regard to the customer’s direct investment purchases. The claim also alleges that a fiduciary duty which was owed to the customer had been breached and that the stockbroker’s negligence caused the customer to experience losses.
FINRA Public Disclosure reveals that McKenna has been identified in two additional customer initiated investment related disputes containing allegations of his misconduct while employed by Stifel Nicolaus. On March 5, 2018, a customer initiated investment related complaint involving McKenna’s conduct was settled for $13,466.26 in damages based upon allegations that misrepresentations had been made by the stockbroker concerning over-the-counter equities that had been sold to the customer. The claim alleges that the investments were falsely represented as being safe and protected through a put option.
McKenna has been identified in another customer initiated investment related written complaint which was resolved for $17,500.00 in damages on October 30, 2018 founded on accusations of the customer being inappropriately placed into over-the-counter equities that were speculative and which poorly performed while McKenna was employed by Stifel Nicolaus.
McKenna’s employment with Stifel Nicolaus Company was terminated on December 31, 2018.