Kodi Robert Hermann of Tualatin Oregon a stockbroker formerly registered with LPL Financial LLC has been named in a customer initiated investment related arbitration claim in which the customer was awarded $9,064.03 in compensatory damages and $1,500.00 in attorneys’ fees founded on accusations of (1) breach of contract (2) negligence (3) violation of FINRA Rules (4) breach of fiduciary duty and (5) violation of Indiana State Securities Law. Financial Industry Regulatory Authority (FINRA) Arbitration No. 17-00926 (Dec. 22, 2017).
According to the FINRA Arbitration Award, the customer’s claim pertained to the mismanagement of investments. Hermann was found to have failed to honor the customer’s instructions of selling securities including Crossroads Systems, Inc., FireEye, Inc. and Conatus Pharmaceuticals, Inc.
FINRA Public Disclosure additionally confirms that on January 5, 2016, a customer filed an investment related complaint involving Hermann’s conduct where the customer requested $12,367.00 in damages supported by allegations that stock, exchanged traded fund and exchange traded note transactions were effected in the customer’s account on an excessive basis, and the financial advisor’s activities in the customer’s account lacked supervision.
Hermann’s registration with LPL Financial LLC has been terminated as of October 19, 2017.
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