Rosca Scarlato LLC law firm is continuing its investigation involving former broker James Flynn in Greenville, South Carolina. We started the James Travis Flynn investigation in February 2019 and since our last update, there have been over 30 customer disputes added to his FINRA Broker check page.
Securities lawyer Alan Rosca of the Rosca Scarlato LLC law firm is investigating activity related to James Flynn’s alleged broker misconduct related to over 30 customer disputes. Investors who believe they may have suffered a loss in relation to James Flynn’s alleged broker misconduct are encouraged to contact Alan Rosca for a free no-obligation case evaluation and discussion of recovery options. Call 888-998-0530, via email at arosca@rscounsel.law, or fill out the contact form on this webpage.
Customer Dispute Disclosures Involving James Flynn Allege Unsuitability and Misrepresentation
James Flynn (also known as James Travis Flynn or Jim Flynn), is the subject of over several customer dispute disclosures alleging unsuitability and misrepresentation as reported on his FINRA Brokercheck page as of the date of this article.
In October 2020, four customers filed disputes in connection to Flynn:
- 10/6/2020: A customer alleges Flynn recommended and implemented a high commission paying, illiquid, and generally unsuitable investment strategy without consideration of personal objectives. There is no specific amount for the alleged damages.
- 10/8/2020: A second customer made an identical allegation as the one above. There is no specific amount for the alleged damages.
- 10/14/2020: A third customer alleges misrepresentations and the overall unsuitableness of the investments for claimants age and financial goals. There is no specific amount for the alleged damages.
- 10/20/2020: A fourth customer alleges too much was invested in REIT products due to his net worth being overstated on account documents. There is no specific amount for the alleged damages.
In July 2020, two customers filed disputes involving Flynn:
- 7/13/2020: A customer alleges hundreds of thousands of dollars of claimant’s assets were placed in multiple illiquid, risky and speculative private placements. The customer is seeking $50,000 for the alleged damages.
- 7/22/2020: A second customer alleges James Flynn made unsuitable risky, illiquid alternative investments recommendations. The customer is requesting $5,000,000 for the alleged damages.
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In June 2020, a customer filed a dispute alleging the financial information found on account documents were fabricated and the customer is seeking $275,000 for the alleged damages.
In May 2020, a customer filed a dispute alleging James Flynn made unsuitable, illiquid and speculative financial product recommendations. There is no specific amount for the alleged damages.
In April 2020, four customers filed disputes involving Flynn:
- 4/9/2020: A customer alleging financial information was fabricated and investment was unsuitable when product was recommended. The customer is seeking $31,131.20 for the alleged damages.
- 4/9/2020: Identical allegations as the one above. This customer is seeking $100,000 for the alleged damages.
- 4/15/2020: A third customer alleges unsuitable investment recommendations that were speculative and not consistent with claimant’s investment objectives and risk tolerance. There is no specific amount for the alleged damages.
- 04/22/2020: A fourth customer alleges unsuitable illiquid real estate investment recommendations that did not fit the claimant’s financial condition. The customer is requesting $8,000 for the alleged damages.
In January 2020, a customer filed a dispute alleging unsuitable investment recommendations, misrepresentations, and omitting material information. The customer is seeking $350,000 for the alleged damages.
In September 2019, a customer filed a dispute alleging unsuitable alternative, illiquid investment recommendations. The customer is seeking $100,000 for the alleged damages.
In March 2019, two customer filed disputes involving Flynn:
- 3/5/2019: One customer alleging they were not informed the investment was not liquid and could not be actively traded and the investment recommendation was unsuitable due to age of purchase
- 3/18/2019: A second customer alleging they were advised by Flynn to liquidate their entire portfolio and invest in unsuitable, high risk, high fee, and illiquid investments
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Over $3 Million Paid in Settlement to James Flynn Customers Since February 2019
Ex broker James Travis Flynn was involved in several settled customer disputes since our last update in February 2019, according to his FINRA Brokercheck page. Attorney Alan Rosca and his colleagues at Rosca Scarlato LLC law firm are actively participating in James Flynn’s investigation of multiple customer dispute disclosures alleging unsuitability and misrepresentation. Investors who are concerned they may have lost money at the hands of James Flynn’s investment recommendations may contact an attorney to discuss recovery options. Call us at 888-998-0530, via email at arosca@rscounsel.law, or fill out the contact form on this webpage.
In January 2020, three customers received a settlement for the allegations of high commission, illiquid, unsuitable investments. One customer received a settlement of $80,000, the second customer received a settlement of $420,000, and the third customer received a settlement of $90,000.
In November 2019, four customers received settlements for various allegations of unsuitable recommendations, misrepresentation, misleading investment guarantees, and exaggeration of financial information. All four customers received settlements to the tune of $95,000, $47,500, $80,000, and $300,000.
In October 2019, a customer alleging various alternative, illiquid and unsuitable securities recommendations, requested $100,000 for the alleged damages and received a settlement of $575,000.
In August 2019, two customers alleged unsuitable investments made to claimants who were unsophisticated investors, risks were not aligned with their objectives, material risks were not disclosed, and the investments were over concentrated. One customer received a settlement of $100,000 and the second customer received a settlement of $245,000.
Two Flynn customers filed disputes in May 2019 alleging misrepresentation of facts, exaggeration of financial information, and sale of unsuitable illiquid high commission recommendations. One customer received a settlement of $65,000 and another customer received a settlement of $201,750.
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Three James Travis Flynn customers in April 2019 filed a dispute with allegations of misrepresentation, and unsuitable investment and securities recommendations. All three customers received settlements to the tune of $92,500, $107,500, and $750,000 respectively.
In February 2019, a customer filed a dispute alleging Flynn told the claimant that he would have access to his money if needed but failed to inform the claimant of the surrender chargers and risks that came with the product recommended. The customer also alleged exaggeration of financial information and overall unsuitableness of the initial investment. The customer received a settlement of $33,600.
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.
James Travis Flynn Investigation by Securities Lawyers
The Rosca Scarlato LLC law firm represents investors who lose money as a result of broker misconduct and investment-related fraud. We are currently investigating conduct related to former broker James Travis Flynn’s customer dispute disclosures on the allegations of misrepresentation and unsuitability.
The firm takes most cases like this on a contingency fee basis and advances the case costs, we only get paid for the fees and costs out of the money we recover for clients. Attorney Alan Rosca, a securities lawyer and adjunct professor of securities regulation, has represented thousands of investors who fall victim to their unscrupulous broker’s misconduct and violations of sale practices.
Investors who believe they lost money as a result of former broker James Flynn’s customer dispute disclosures on the allegations of misrepresentation and unsuitability, may contact attorney Alan Rosca for a free no-obligation evaluation of their recovery options by calling 888-998-0530, via email at arosca@rscounsel.law, or through the contact form on this webpage.
