Joel Alan Butler, of Atlanta, Georgia, a stockbroker formerly registered with Oppenheimer & Co. Inc., has been identified in a customer initiated investment related arbitration claim, in which the customer requested $175,000.00 in damages based upon allegations that Butler made unsuitable investment recommendations to the customer concerning unit investment trust and oil and gas products. Financial Industry Regulatory Authority (FINRA) Arbitration No. 16-01811 (July 26, 2016).
FINRA Public Disclosure reveals that Butler has been identified in two additional customer initiated investment related disputes containing allegations of his improper conduct during the time that he was employed with Lehman Brothers. Specifically, on March 3, 1992, a customer initiated investment related written complaint involving Butler’s conduct was settled for $450,000.00 in damages resting on allegations that the customer was sold an equity in a company that went bankrupt two weeks subsequent to the customer’s purchase.
Subsequently, a customer initiated investment related written complaint regarding Butler’s activities was resolved for $30,000.00 in damages based upon accusations that Butler breached his fiduciary duties, negligently serviced the customer’s investment account, and failed to diversify the customer’s funds by over-concentrating them in over-the-counter equities.
Butler’s employment with Oppenheimer & Co. Inc. was terminated as of March 18, 2016. Since March 29, 2016, he has been associated with American Wealth Management, Inc.
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