We are Investigating Former Coastal Equities Broker Dudley Stephens for Unauthorized Transactions
The Sonn Law Group is investigating claims involving former securities broker Dudley F. Stephens. Among other things, Mr. Stephens is accused of executing unauthorized transactions. If you suffered losses working with this advisor, we want to discuss your case. Contact our legal team today, or call us anytime at 866–827–3202 to schedule a free consultation.
Dudley Franklin Stephens (CRD#: 4119268) is a former broker and investment advisor. Most recently, Mr. Stephens was employed at Coastal Equities in New York, NY (2016 to 2018). Prior to that, he was associated with Prospera Financial Services, Wells Fargo Advisors, and HSBC Securities.
In July of 2018, Mr. Stephens was terminated by his broker-dealer (Coastal Equities) after the compliance department of the firm discovered several suspicious documents pertaining to potentially unauthorized transactions.
Barred Broker: Dudley Franklin Stephens Formerly of Coastal Equities
After Dudley Stephens was discharged by his member firm, the Financial Industry Regulatory Authority (FINRA) launched its own review into the allegations raised against him. In violation of FINRA Rule 8210, Mr. Stephens failed to cooperate with this investigation. Pursuant to securities industry rules, he has now been indefinitely barred by FINRA.
Notably, two separate investor complaints have been filed against Dudley Stephens since his termination at Coastal Equities. In December he settled a claim related to unauthorized commissions for $41,250 in financial compensation. Another customer complaint, which alleges unauthorized trades, excessive trading, and unsuitable investments, is still pending. In this case, the investor is seeking $500,000 in damages.
Jeffrey R. Sonn is a top-rated investment fraud lawyer with extensive experience handling unauthorized trading claims and other broker fraud cases. If you sustained major losses investing with Dudley Stephens, Mr. Sonn is ready to help. Contact us today to schedule a free initial consultation.