History of Customer Disputes Alleging Misrepresentation, Unsuitability, and Breach of Fiduciary Duty
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Broker Mark E Jones (CRD#: 261512), a registered representative of Merrill Lynch Pierce, Fenner & Smith in Denver, Colorado, is involved in a pending dispute filed in May 2019 alleging misrepresentation of managed wrap accounts.
Jones is a 45-year veteran of the investment services industry, and has, since 1978, spent the last 40 years of his career with Merrill Lynch in Denver,CO.
History of customer disputes alleging misrepresentation, unsuitability, and breach of fiduciary duty.
In May 2019, a customer filed a pending dispute alleging Jones misrepresented managed wrap accounts, requesting an unspecified amount of damages.
Five years ago, in February 2014, a customer filed a dispute alleging Jones made unsuitable investment recommendations and engaged in misrepresentation and omission of material facts from Feb 2008 — July 2008. Damages were not specified. The claim was settled for $26,250.
In April 2009, a customer alleged Jones had failed to follow his investment instructions, for an unclaimed amount of damages. The claim was settled for $12,000 by the firm.
One of Jones’ clients contended April 2007 that he had incurred significant losses in covered call trades, for unspecified damages. The claim was settled for $387,616.
In December 2002, a customer alleged that Jones had breached an agreement to invest in an outside business venture, listing unspecified damages. Jones stated the firm did not allow him to invest in the company. The claim was settled for $25,000.
In April 2002, in a FINRA hearing, Jones and Merrill Lynch were found jointly liable for securities fraud, breach of fiduciary duty, and negligence with alleged client damages of $2,700,000.
The client received $400,000. Merrill Lynch and Jones jointly were liable for $292,462, and $107,538 went against Merrill Lynch only.
In December 199, a client brought a claim against Jones and Merrill Lynch citing allegations of misrepresentation, omission of facts, failure to supervise, and breach of contract, with alleged damages of $100,000. The case was withdrawn in 1997.
Also in December 1995, a claimant alleged that Jones had engaged in misrepresentation, seeking $100,000 in damages. The claim was settled for $13,000. .
Jones was involved in two other customer disputes in 1993 and 1990 alleging excessive trading and unsuitability, which settled for $17,500 and $14,000, respectively.
Jeffrey R. Sonn is an experienced investor losses attorney. If you suffered losses because a financial professional or corporate executive misappropriated funds, Mr. Sonn will protect your rights and interests. Please do not hesitate to contact the Sonn Law Group today for a free review of your claim.