Lynn Grossman, of Westport, Connecticut, a stockbroker formerly registered with Wells Fargo Advisors, has been named in a customer initiated investment related arbitration claim on March 30, 2017, in which the customer requested $168,000.00 in damages based upon allegations that Grossman made misrepresentations and unsuitable recommendations to the customer concerning a variable annuity that the customer purchased.
Financial Industry Regulatory Authority (FINRA) Public Disclosure reveals that Grossman has been identified in three additional customer initiated investment related disputes containing allegations of his misconduct while employed with Wachovia Securities, LLC, and Citigroup Global Markets Inc. Specifically, on August 29, 2003, a customer filed an investment related written complaint involving Grossman’s conduct, in which the customer requested $100,000.00 in damages based upon allegations that Grossman misrepresented indexed options.
Further, on April 26, 2004, a customer filed an investment related written complaint regarding Grossman’s activities, based upon allegations that Grossman effected over-the-counter equity transactions in the customer’s account which were not suitable for the customer. Moreover, on August 15, 2008, a customer initiated investment related written complaint involving Grossman’s conduct was settled for $5,000.00 in damages based upon allegations that Grossman made faulty representations concerning the liquidity and convertibility of auction rate securities.
Grossman’s registration with Wells Fargo Advisors ended on December 12, 2016. Since December 2, 2016, he has been associated with Raymond James & Associates, Inc.
Guiliano Law Group
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