Gerald James Ohalloran, a stockbroker currently registered with Kovack Securities Inc., has been named in a customer initiated investment related arbitration claim on August 2, 2016, in which the customer requested $135,000.00 in damages based upon allegations that Ohalloran breached his fiduciary and contractual duties to the customer, made misrepresentations and omissions concerning investments, and negligently handled the customer’s account concerning investments in real estate investment trusts. Additionally, the customer alleged that Kovack Securities, Inc. failed to supervise Ohalloran’s conduct.
Financial Industry Regulatory Authority (FINRA) Public Disclosure reveals that Ohalloran has been identified in seven additional customer initiated investment related disputes containing allegations of Ohalloran’s misconduct while employed with Edward D. Jones & Co., LP, Kovack Securities, Inc., and A.G. Edwards & Sons, Inc. Specifically, on September 16, 1998, a customer filed an investment related complaint involving Ohalloran’s conduct, in which the customer requested $25,000.00 in damages based upon allegations that Ohalloran failed to execute upon the customer’s investment transfer instructions.
Subsequently, on September 28, 1998, a customer filed an investment related complaint regarding Ohalloran’s activities based upon allegations that Ohalloran effected unauthorized mutual fund purchases in the customer’s account. On October 22, 1998, another customer initiated investment related complaint involving Ohalloran’s conduct was settled for $9,609.82 in damages based upon allegations that Ohalloran liquidated the customer’s investment account without authorization and invested the monies into a variable annuity.
Further, on May 5, 2000, a customer initiated investment related complaint regarding Ohalloran’s activities was resolved for $8,646.30 in damages based upon allegations that Ohalloran effected unauthorized stock transactions in the customer’s account. On May 21, 2008, another customer was awarded $76,565.08 in damages according to an investment related arbitration claim involving Ohalloran’s misconduct, based upon allegations that Ohalloran effected bond transactions in the customer’s account which the customer did not consent to. Moreover, on January 3, 2012, a customer initiated investment related written complaint regarding Ohalloran’s activities was resolved for $14,000.00 in damages based upon allegations that Ohalloran effected unapproved reverse convertible note trades in the customer’s account.
Guiliano Law Group
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