Gregory Martin Ellis, of Baton Rouge, Louisiana, a stockbroker formerly registered with VSR Financial Services, has been subject to a customer initiated investment related arbitration action on July 22, 2015, in which the customer requested $445,000.00 in damages based upon allegations that Ellis negligently handled the customer’s account, breached his fiduciary duties to the customer, and effected unsuitable transactions in the customer’s account.
FINRA Public Disclosure reveals that Ellis has been subject to ten additional customer arbitrations. Particularly, on May 7, 2010, a customer initiated investment related arbitration claim involving Ellis’ conduct was settled for $33,000.00 in damages based upon allegations that Ellis made misrepresentations and unsuitable investment recommendations to the customer.
On June 17, 2010, a customer initiated investment related arbitration action pertaining to Ellis’ activities was resolved for $350,000.00 in damages based upon allegations that Ellis breached his fiduciary duty to the customer and effected unsuitable transactions in the customer’s account. Additionally, on September 6, 2011, a customer initiated investment related arbitration claim involving Ellis’ conduct was settled for $80,000.00 in damages based upon allegations of misrepresentations, unsuitability, and breach of fiduciary duty.
On November 8, 2011, another customer initiated investment related arbitration action concerning Ellis’ conduct was resolved for $110,000.00 in damages based upon allegations that Ellis breached his contractual and fiduciary duties to the customer and made omissions and misrepresentations to the customer regarding investments.
Further, on February 4, 2013, a customer initiated investment related arbitration action was settled for $1,262,081.74 in damages based upon allegations that Ellis defrauded the customer, made omissions and misrepresentations, and breached his fiduciary and contractual obligations. On December 10, 2013, another customer initiated investment related arbitration claim involving Ellis’ actions was resolved for $91,000.00 in damages based upon allegations that Ellis effected unsuitable transactions in the customer’s account.
Moreover, on December 20, 2013, a customer initiated investment related arbitration action concerning Ellis’ conduct was settled for $320,000.00 in damages based upon allegations including breach of contract, breach of fiduciary duty, negligence, unsuitability, misrepresentation, and violations of Louisiana Securities Act. On April 10, 2014, another customer received $243,227.00 in damages per an investment related arbitration claim regarding Ellis’ actions, based upon allegations including fraud.
Additionally, a customer initiated investment related arbitration claim concerning Ellis’ activities was resolved on January 14, 2015, in which the customer received $42,500.00 in damages based upon allegations that Ellis breached his duty of loyalty and trust to the customer, and effected unsuitable transactions in the customer’s account.
Finally, on April 23, 2015, a customer was awarded $307,000.00 in damages per an investment related arbitration action regarding Ellis’ conduct, in which the customer alleged that Ellis made omissions and misrepresentations to the customer concerning investments, breached his contractual and fiduciary duties, and defrauded the customer.
Guiliano Law Group
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