Heath Shayne Bowen Was Sued by Customers for Allegedly Unsuitable Recommendations, Was Suspended for Failing to Pay an Arbitration Award

Heath Bowen, an investment professional based Idaho Falls, ID, was recently sued by customers for allegedly making unsuitable investment recommendations, and had his license indefinitely suspended by FINRA for failing to pay a stipulated award to one of his customers, according to FINRA.

The investor rights lawyers at Goldman Scarlato & Penny law firm are investigating Mr. Bowen’s conduct to determine whether any other investors may have claims of unsuitability arising out of problematic investment recommendations by Mr. Bowen. Investors may contact investor rights attorney Alan Rosca to provide information or inquire about their legal options.

Heath Bowen Had Three Customer Disputes Arising out of Allegedly Improper Option Trading Strategies

Heath Bowen had three customer disputes alleging unsuitability and requesting amounts between $64k and $456k, according to FINRA. The disputes allegedly arose out of Mr. Bowen’s allegedly unsuitable investment recommendations to three customers, all reportedly involving options strategy.

The disputes were filed between September 2017 and March 2018.

Option trading is highly risky and should typically be conducted only by (or in the portfolios of) sophisticated and wealthy investors. Trading in options could result in the loss of the entire investment. Options trading is typically inappropriate in the portfolios of older, individual investors, particularly when the trading involves those investors’ life savings.

Heath Bowen Was Sued by Colorado State Regulators for Allegedly Placing Clients in High-Risk Complex Options Strategy

Last year, Heath Bowen was sued by the Colorado securities regulators for allegedly placing advisory clients in high risk complex options strategy that the clients did not understand. Bowen did not admit or deny the regulations but agreed to cease and desist conducting advisory business in Colorado.

The Colorado regulatory action took place shortly before several customers filed claims against Bowen for allegedly unsuitable options trading.

Securities Lawyers Investigating on Behalf of Investors

The Goldman Scarlato & Penny PC law firm is currently investigating Heath Shayne Bowen’s allegedly improper options trading recommendations to customers. The firm represents investors across the country who lose money as a result of investment-related fraud or misconduct. The Goldman Scarlato & Penny attorneys take most cases on behalf of investors on a contingency fee basis, advance the case costs, and only get paid for their fees and costs out of money recovered for their clients.  Attorney Alan Rosca, a security 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 securities class actions.

If you or a loved one have lost money investigating with Heath Shayne Bowen, you may contact attorney Alan Rosca or his colleagues for a free, no-obligation evaluation of your recovery options, at 888-998-0530, via email at rosca@lawgsp.com, or through the contact form on this webpage.

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In our legal system, every person is innocent until and unless found guilty by a court of law or a tribunal. Whenever we reference “allegations” or charges that are “alleged,” such allegations or charges have not been proven, and are merely accusations, not findings of fault, as of the date of the blog. We do not have, nor do we undertake, a duty to continue to monitor or follow cases about which we report, and/or to publish subsequent updates regarding various developments that may occur in such cases. Readers are encouraged to conduct their own research regarding any such cases and any developments that may or may not have occurred in such cases. Also, the brokercheck report linked to some of our blogs is the up-to-date version as of the date of posting. Visitors may check the most recent version of each brokercheck report at www.finra.org.