John Hoff Russell, a registered broker and investment adviser in Clayton, Missouri was the subject of a customer dispute instituted against him and his brokerage firm on allegations of breach of fiduciary duty, fraudulent misrepresentation and civil conspiracy 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 a recent customer dispute filed against broker John H. Russell . Concerned investors are encouraged to contact attorney Rosca by calling 888-998-0530, via email at arosca@rscounsel.law, or by leaving a message through the contact forms on this page.
Stockbroker John Russell is registered with Stifel, Nicolaus & Company, in Clayton Missouri. Stifel, Nicolaus & Company is a member firm of the Financial Industry Regulatory Authority (FINRA) and John Russell was in the employment of the firm when the alleged conducts leading to the disputes were performed.
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John H. Russell Customer Dispute Disclosures
As reported on his FINRA brokercheck page, broker John Russell has been involved in three customer disputes filed between 2007 and 2018 with the disputes either settled, denied or ended with an award.
In the latest customer dispute, which was instituted in August 2018, the client alleged that the broker and investment adviser, John H. Russell, breached his fiduciary duty. The client further alleged fraudulent misrepresentation, negligent misrepresentation and civil conspiracy against Russell.
These allegations were based on the report of the client that the broker fraudulently and deceitfully obtained the consent of the client to transfer assets from her joint-tenancy accounts with her deceased husband. It was also alleged that John Hoff Russell failed to provide the client and attorney-in-fact with the material information required thus leading to the disinheritance of the client and her children from the majority of the financial assets that were provided to them by the decedent as reported in the complaints.
The client sought to recover $3,000,000 in damages, and a FINRA arbitration panel awarded the investor $800,000 in the action. Soon after, the defendants of the dispute John Hoff Russell and Stifel, Nicolaus & Company have filed a motion to vacate the arbitration award before the Circuit Court of St. Louis County, Missouri. According to a January 2021 update, this case was eventually settled for $695,000.
In September 2011, John Hoff Russell was the subject of a customer dispute on the allegation of unsuitable investment recommendation. The client alleged that they incurred losses on the purchase of a bond which was outside the parameters agreed to by the client in December 2007. The client sought to recover $43,304.19 in damages and the dispute was settled for $38,562.88.
In another dispute instituted in August 2007, the client alleged that the investment adviser misrepresented the length bonds and the risk associated with them. The client also alleged an unrealized loss of $14,720.53 on the investment. As a result of this, the client sought to recover $14,720.53 in damages but the customer dispute was denied.
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.
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Securities Lawyers Investigating
The Rosca Scarlato LLC law firm represents investors who lose money as a result of investment-related fraud or misconduct and is currently investigating allegation of breach of fiduciary duty, fraudulent misrepresentation and civil conspiracy, among others, involving Stifel Nicolaus broker John Russell.
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, and 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 John Hoff Russell’s customer disputes 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.