James Lyons, a previously registered broker and previously registered investment adviser, is the subject of customer dispute disclosures on the allegations of unauthorized trading and unsuitable investments among others, according to an investigation by attorney Alan Rosca. Securities attorney Alan Rosca of the Rosca Scarlato LLC law firm, is investigating conduct related to the customer dispute disclosures involving James Edward Lyons on the allegations of unsuitable investments and unauthorized trading among others.
James E. Lyons was barred indefinitely in all capacities by the Financial industry Regulatory Authority (FINRA) in June 2018.
Prior to the bar, he was previously in the employment of Raymond James & Associates between February 2013 and May 2017; and Morgan Keegan & Company between August 1993 and February 2013.
He was in the employment of the FINRA member firms mentioned above when he committed the alleged acts leading to the pending customer disputes.
Concerned about investments with
James Edward Lyons Subject to Several Customer Dispute Disclosures
Publicly available information reviewed by the Rosca Scarlato securities attorneys shows that former broker James Lyons has a customer dispute disclosure initiated April 2020. According to the reports on his FINRA Brokercheck page, the customer dispute is based on unauthorized trading and unsuitable investments allegations involving James Edward Lyons. The client also alleges that these allegations happened between 2002 and now according to the reports the client is seeking to recover $1,000,000 in damages.
Previously registered broker James Lyons also had an award entered against him on 9th November, 2017. In this customer dispute that had multiple claimants, the claimants alleged that James Edward Lyons violated FINRA Rules and other industry Standard Rules; breached their contract and breach Federal and State Laws. The claimants further alleged that the barred broker made fraudulent and/or negligent fraudulent representations, committed fraudulent concealment, overconcentration, unsuitable and unauthorized trading. The claimants sought $5,000,000 in damages and they were awarded $2,986,708.96 in damages.
Lyons‘ Brokercheck report also shows four settled customer dispute disclosures.
A client in a customer dispute initiated the proceedings on 18th June 2019. In this dispute, the client is alleging the violation of FINRA rules, unauthorized trading and unsuitability of investments.
The client further alleges over concentration of investment portfolio, participation in mismarked trades and self-dealing. In addition the client alleged breach of contract, fraudulent misrepresentations, concealed costs, and vital conflict of interests. According to the reports, these allegations happened between January 2000 and December 2018, and the customer alleged unspecified damages estimated to be in excess of $5,000. In February 2021 and this customer dispute reportedly settled for $115,000.
The securities attorneys in their review found that broker James Lyons also has a settled a customer dispute disclosure reportedly filed in September, 2018. In this dispute, the client alleged unsuitable investments and overconcentration of investment between January 1982 and September 2018. The client sought to recover damages to the tune of $1,279,497.47 but the dispute was eventually settled for $677,000.
Concerned about investments with
In June 2016, James E. Lyons was involved in another customer dispute which reportedly settled for $400,000. The customer in this dispute alleged breach of duties, churning of their accounts, fraudulent omissions. The customer further alleged violation of federal securities legislations, Louisiana Securities law and carried out unauthorized and unsuitable trading.
The client alleged that these acts were committed between February 2011 and April 2016. Before settling the dispute for the amount mentioned above, the client sought to recover $1,200,000 in damages from the broker. Lyon reportedly individually contributed $20,000 to the settlement in this matter.
Back in 2013, a Lyons customer accepted $152,000 in settlement in a case alleging unsuitability, misrepresentation, and unauthorized trading in connection to mutual funds, stock and UIT investments.
Finally, it is important to note that, as of the date of this article, there has not been a finding of liability as to the complaints or allegations mentioned in this article, unless otherwise indicated. Any reader should also read the original sources hyperlinked in this blog for accuracy, including any BrokerCheck report and/or record of any disciplinary or regulatory action. Those sources are incorporated by reference into the text of this blog, and are the governing materials in case of any inconsistencies or typos in this blog.
Concerned about investments with
Securities Lawyer Investigating Potential Options
The Rosca Scarlato LLC law firm represents investors who lose money as a result of investment-related fraud or misconduct and is currently investigating conduct related to James Edward Lyons’ customer dispute disclosures on the allegations of unauthorized trading and unsuitability.
The firm takes most cases of this type on a contingency fee basis and advances the case costs, and only gets paid for their fees and costs out of money recovered for clients. Attorney Alan Rosca, a securities lawyer and adjunct professor of securities regulation, has represented thousands of victimized investors across the country and around the world in cases ranging from arbitrations to class actions.
Investors who believe they lost money as a result of conducts related to James Edward Lyons’ customer dispute disclosures bringing allegations of unauthorized trading and unsuitability, may contact attorney Alan Rosca for a free no-obligation evaluation of their recovery options, at 888-998-0530, via email at arosca@rscounsel.law, or through the contact form on this webpage.
