Michael Stephen Myers of Portland, Oregon, a stockbroker registered with LPL Financial LLC, was the subject of a customer initiated investment related complaint that was settled on August 9, 2022, for $15,000.00 in damages based upon allegations that Myers made unsuitable investment recommendations resulting in adverse tax consequences to the customer when Myers was associated with Securities America Inc.
This is not the first time that Myers has been referenced in a customer initiated investment related dispute concerning Myers’s conduct in the securities industry. FINRA Public Disclosure shows that Myers was also referenced in a customer initiated investment related FINRA securities arbitration claim that was settled for $487,500.00 in damages based upon allegations that Myers made misrepresentations of material fact concerning risks of tenant in common (TIC) investments during the time that Myers was associated with Private Consulting Group Inc. FINRA Arbitration No. 08-00971 (May 11, 2009).
On September 25, 2014, a customer initiated investment related civil action involving Myers’s conduct was settled for $3,600.00 in damages based upon alleged misleading documents prepared by an investment sponsor in connection with the sale of direct investments when Myers was associated with Private Consulting Group. Civil Action No. CV15080065.
Myers has been associated with LPL Financial LLC in Portland, Oregon since October 26, 2023. From October 20, 2017, to October 26, 2023, Myers was associated with Securities America Advisors Inc. in Portland, Oregon, as an investment advisor representative, and with Securities America Inc. as a stockbroker.
