Charles Bernard Lynch Jr., of Irvine California, a stockbroker formerly registered with Wells Fargo Advisors, LLC, is the subject of a customer initiated investment related arbitration claim on September 18, 2017, in which the customer requested $200,000.00 in damages based on allegations that Lynch effected unsuitable transactions in the customer’s account, over-concentrating the customer’s portfolio in energy sector investments. FINRA Arbitration No. 17-02446 (Sept. 18, 2017).
Financial Industry Regulatory Authority (FINRA) Public Disclosure reveals that Lynch has been identified in fifty-three additional customer initiated investment related disputes pertaining to accusations of his misconduct while associated with Wells Fargo and Morgan Stanley Smith Barney. Specifically, a customer filed an investment related arbitration claim involving Lynch’s conduct, where the customer sought $150,000.00 in damages supported by allegations that Lynch effected unsuitable transactions in the customer’s account since 2013. FINRA Arbitration No. 17-00779 (May 5, 2017). Apparently, customers alleged that approximately fifty-percent of their portfolio was eroded based upon the concentration of customers’ assets in speculative investments including penny stocks.
On September 6, 2017, a customer initiated investment related written complaint involving Lynch’s conduct was settled for $200,000.00 in damages based upon accusations that from May 14, 2015 to April 12, 2016, Lynch inappropriately allocated the customer’s investments in foreign equities as well as oil and gas products. Then, on September 22, 2017, a customer initiated investment related written complaint regarding Lynch’s activities was resolved for $28,000.00 in damages founded on allegations that between December 1, 2013, and April 12, 2016, Lynch effected energy stock transactions in the customer’s account that were not suitable, and failed to execute the customer’s stop loss instructions.
Moreover, on August 9, 2017, a customer filed an investment related written complaint regarding Lynch’s activities, requesting at least $5,000.00 in damages based upon allegations that Lynch failed to invest the customer’s assets in a manner that conformed to the customer’s conservative risk tolerance. The customer also accused Lynch of failing to abide by the customer’s requests to sell energy sector stock positions from the customer’s investment portfolio.
Lynch’s registration with Wells Fargo Advisors, LLC was terminated as of May 2, 2016.
Guiliano Law Group
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
