Clarence Ronald Patton Jr. (also known as Ron Patton), of Red Bank, New Jersey, a stockbroker registered with Alexander Capital L.P., was the subject of a customer initiated investment related Financial Industry Regulatory Authority (FINRA) securities arbitration claim which was settled for $225,000.00 in damages based upon allegations that Patton violated Florida Securities and Investor Protection Act, breached his fiduciary duties to the customer, breached a contract, violated NYSE and FINRA rules, and failed to supervise certain representatives in connection with the sale of options when Patton was associated with Alexander Capital L.P. FINRA Arbitration No. 22-02767 (May 14, 2024).
FINRA Public Disclosure shows that Patton is referenced in seven other customer initiated investment related disputes concerning Patton’s conduct while associated with securities broker dealers. On October 8, 2008, a customer filed an investment related complaint involving Patton’s conduct in which the customer requested $19,565.22 in damages based upon allegations that Patton engaged in unsuitable and unauthorized trading in mutual funds during the time that Patton was associated with J.P. Turner Company LLC.
On November 10, 2011, a customer initiated investment related FINRA securities arbitration claim involving Patton’s conduct was settled for $650,000.00 in damages based upon alleged fraud, breach of fiduciary duty, negligence, and violation of Florida law in connection with the sale of tenants-in-common investments. FINRA Arbitration No. 10-05214.
On October 22, 2015, another customer filed an investment related complaint involving Patton’s conduct in which the customer requested $7,191.40 in damages based upon alleged negligence, unsuitable recommendations, and breach of fiduciary duties in connection with the sale of over-the-counter equities. The complaint was closed with no further action taken by the customer.
Patton was also referenced in a FINRA securities arbitration claim that was settled for $225,000.00 in damages based upon allegations that Patton was negligent, breached a contract, breached his fiduciary duties, and failed to supervise certain representatives in connection with the sale of stocks when Patton was associated with Cetera Advisor Networks LLC and Summit Brokerage Services Inc. FINRA Arbitration No. 22-02565 (September 26, 2023).
On November 11, 2023, a customer initiated an investment related FINRA securities arbitration claim involving Patton’s conduct. The claim was settled for $665,999.99 in damages based upon allegations that Patton violated Regulation Best Interest, breached his fiduciary duties to the customer, was negligent, and breached a contract in connection with the sale of options when Patton was associated with Alexander Capital L.P. The customer also alleged violation of Florida Securities and Investor Protection Act. FINRA Arbitration No. 22-02561.
Patton was associated with Alexander Capital L.P. in Red Bank, New Jersey from February 18, 2020, to February 23, 2022. He was associated with Cetera Advisor Networks LLC in Destin, Florida from September 20, 2019, to February 28, 2020, and associated with Summit Brokerage Services Inc. in Destin, Florida from September 17, 2015, to September 20, 2019.
