RedFlags, Allegations and Complaints against JAMES MICHAEL MURPHY
Disclosure #1 for JAMES MURPHY
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- eventDate: 8/15/1996
- Disclosure Type: Customer Dispute
- Disclosure Resolution: Award / Judgment
- Disclosure Detail :: Allegations: FRAUD, UNSUITABILITY, EXCESSIVE TRADING, BREACH OF FIDUCIARY DUTY, CAUSING SEVERE EMOTIONAL DISTRESS. ACTUAL DAMAGES OF $295,000 CLAIMANT REQUESTED. COMPENSATORY DAMAGES OF $349,398
- Damage Amount Requested: $644,398.00
- Damages Granted: $1.00
- DisplayAAOLinkIfExists: Y
- arbitrationClaimFiledDetail: 95-04668
- Arbitration Docket Number: 95-04668
- Broker Comment: I, JAMES MURPHY, WAS FOUND LIABLE FOR $1 IN ACTUAL DAMAGES. OLDE DISCOUNT WAS FOUND LIABLE FOR $1 IN ACTUAL DAMAGES. OLDE DISCOUNT WAS FOUND LIABLE FOR PUNITIVE DAMAGES OF $350,000 EVEN THOUGH CLAIMANT WAS FOUND TO BE COMPARATIVELY RESPONSIBLE FOR THE ACTUAL LOSSES. UPON OPENING THE ACCOUNT FOR THE [CUSTOMERS, I REVIEWED THEIR FINANCIAL SITUATIONS, THEIR INVESTMENT OBJECTIVES, AND THEIR RISK TOLERANCES. BASED ON THAT INFORMATION, I RECOMMENDED SUITABLE INVESTMENTS. [CUSTOMER WOULD CONSIDER THE INVESTMENT AND DECIDE WHETHER OR NOT TO FOLLOW MY SUGGESTIONS. IN MOST CASES, [CUSTOMER WOULD NOT FOLLOW MY RECOMMENDATIONS. AT NO TIME DID I EVER MAKE AN UNSUITABLE RECOMMENDATION, OR MISREPRESENT AN INVESTMENT IDEA TO THE [CUSTOMERS. I BELIEVE THE ARBITRATION PANEL FOUND THAT TO BE THE CASE AS IS EVIDENT IN THE AWARD AGAINST ME FOR ONE DOLLAR.
Should I file a FINRA complaint against brokers like JAMES MICHAEL MURPHY?
Many investors (presumably, like yourself) are unaware of the legal recourse available to them after losing money due to securities broker fraud and/or negligence. The truth is that investors who lost money in this fashion may actually be entitled to damages. You may suffer significant losses at the hands of your financial advisors’ misconduct, such as if they misrepresented or failed to disclose the risks associated with a particular investment, recommended frequent trades for the sole purpose of generating commissions, or used high-pressure tactics to make a sale. The rules and regulations of securities laws and FINRA policies are complex, and investment loss claims require an extensive understanding of securities arbitration to achieve the best possible results.
Update – 2022.11.15If you have suffered investment losses that may have been caused by JAMES MICHAEL MURPHY’s negligence or fraud, contact a FINRA lawyer today. Most FINRA lawyers work on a contingency fee basis, meaning that you will not be charged for their services unless they successfully collect money for you. Kindly add a comment, or contact us directly if you have any query, or want to be contacted by a FINRA lawyer today!
Frequently Asked Questions About JAMES MICHAEL MURPHY
What is JAMES MURPHY’s Central Registration Depository (CRD) Number?
Which firm is JAMES MICHAEL MURPHY associated with?
AMERIPRISE FINANCIAL SERVICES, LLC
Where is JAMES MURPHY located?
11300 US HIGHWAY 1, PALM BEACH GARDENS, FL, 33408-3293
Where can I find more details about JAMES MURPHY’s Investment Firm?
Visit https://brokercheck.finra.org/firm/summary/6363 to read a detailed report for AMERIPRISE FINANCIAL SERVICES, LLC
Are there any disclosures, allegations or complaints filed against JAMES MICHAEL MURPHY?
Where can I download a detailed FINRA report for JAMES MURPHY?
Is it safe to do business with JAMES MICHAEL MURPHY?
We’re not sure. Please research JAMES MURPHY’s disclosures, allegations and complaints before taking a decision
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