Patrick Francis Walsh, of Westlake Village, California, a stockbroker currently registered with Morgan Stanley, is the subject of a customer initiated investment related arbitration claim, which settled for $156,000.00 in damages based upon allegations that between January of 2009 and November of 2015, Walsh effected trades in the customer’s account on an excessive basis relating to structured products, exchange traded funds, unit investment trusts, mutual funds, and equities. Financial Industry Regulatory Authority (FINRA) Arbitration No. 16-01741 (Apr. 20, 2017).
FINRA Public Disclosure reveals that Walsh is the subject of four more customer initiated investment related disputes pertaining to accusations of Walsh’s misconduct while employed with Morgan Stanley and Dean Witter & Co. Incorporated. Specifically, a customer initiated investment related written complaint involving Walsh’s conduct was settled for $25,000.00 in damages supported by accusations of misrepresentation in reference to Indian Valley Hydroelectric Partnership interests.
Subsequently, a customer was awarded $275,000.00 in damages according to an investment related arbitration claim involving Walsh’s activities which contained findings of breach of fiduciary duty, unauthorized transfer of funds, negligence, fraudulent deceit, and breach of a written agreement pertaining to a transfer of funds from a partnership account. National Association of Securities Dealers (NASD) Arbitration No. 94-03033. Then, a customer was awarded $456,387.78 according to an arbitration claim relating to Walsh’s conduct that contained findings of elder abuse, breach of contract, breach of fiduciary duty, suitability and fraud. FINRA Arbitration No. 09-03510 (Feb. 24, 2011).
Additionally, on December 9, 2013, a customer initiated investment related written complaint regarding Walsh’s activities was resolved for $420,000.00 in damages based upon allegations that Walsh made unsuitable investment recommendations to the customer regarding exchange traded funds, structured products and stocks.
Our practice is limited to the representation of investors. We accept representation on a contingent fee basis, meaning there is no cost to you unless we make a recovery for you. There is never any charge for a consultation or an evaluation of your claim. For more information, contact us at (877) SEC-ATTY.
For more information concerning common claims against stockbrokers and investment professionals, please visit us at securitiesarbitrations.com
To learn more about FINRA Securities Arbitration, and the legal process, please visit us at securitiesarbitrations.com
