Manuel David Lozano of Pasadena California a stockbroker currently employed by Stifel Nicolaus Company Inc. is the subject of a customer initiated investment related arbitration claim where the customer requested $250,000.00 in damages based upon allegations of (1) misrepresentation (2) suitability and (3) elder abuse pertaining to the customer’s corporate debt investments. Financial Industry Regulatory Authority (FINRA) Arbitration No. 18-01108 (Mar. 26, 2018).
FINRA Public Disclosure reveals that Lozano has been identified in eight more customer initiated investment related disputes containing accusations of Lozano’s wrongdoing while employed by A.G. Edwards & Sons, Inc. and Dean Witter Reynolds Inc. Specifically, a customer initiated investment related arbitration claim pertaining to Lozano’s conduct was resolved for $48,500.00 in damages based upon allegations that Lozano, inter alia: violated the California Civil Code; churned the customer’s investment portfolio; effected unauthorized transactions in the customer’s account; placed unsuitable over-the-counter equities transactions; made misrepresentations and omissions to the customer; negligently transacted in the customer’s account; and breached his fiduciary obligations to the customer. FINRA Arbitration No. 02-062164 (March 3, 2003).
Subsequently, a customer brought an investment related arbitration claim concerning Lozano’s conduct in which the customer sought $140,000.00 in damages founded on accusations including the violation of FINRA rules, breach of fiduciary duty, and suitability pertaining to the customer’s corporate debt holdings. FINRA Arbitration No. 17-01723 (June 28, 2017). Another customer initiated investment related arbitration claim involving Lozano’s activities was settled for $50,000.00 in damages supported by allegations including breach of contract, misrepresentation, breach of fiduciary duty, negligence, omissions of fact, misrepresentation, and suitability relating to stock transactions executed in the customer’s account. FINRA Arbitration No. 10-04475 (July 1, 2011). Then, on August 21, 2017, a customer filed an investment related complaint concerning Lozano’s activities where the customer alleged that corporate bond transactions were misrepresented by Lozano.
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