John Stephen Pronovost Allegedly Engaged in Unsuitable Investments
John Pronovost, of Watertown, Connecticut, allegedly made unsuitable investments and misrepresentations, according to FINRA Reports under review by investor rights attorney Alan Rosca.
Alan Rosca, of the Rosca Scarlato LLC law firm, is investigating activity related to John Pronovost’s alleged unsuitable investments. Investors who believe they may have lost money in activity related to John Pronovost’s alleged unsuitable investments are encouraged to contact attorney Alan Rosca with any useful information or for a free, no obligation discussion about their options.
John Pronovost Allegedly Made Misrepresentations Regarding the Sales of LJM Capital Preservation & Growth Fund
John Pronovost allegedly made unsuitable recommendations regarding investments in LJM Capital Preservation and Growth Fund, FINRA notes.
A pending customer dispute filed on October 3, 2018 alleges that Pronovost’s unauthorized sale of LJM funds was unsuitable, as well as non disclosure of fees associated with the fund, and is requesting damages of $39,709.00, FINRA notes, while a pending customer dispute filed on June 28, 2018 alleges that the sale of LJM funds was unsuitable, and is requesting damages of $70,000.00.
John Pronovost is also the subject of a customer dispute filed on May 3, 2018 which alleges misrepresentation and suitability of a mutual fund, and is requesting damages of $50,000.00, FINRA states.
A pending customer dispute filed on April 11, 2018 alleges a mutual fund purchased in 2016 is purportedly unsuitable for his risk tolerance, and the alleged activity occurred between January 2017 and February 2018, and is requesting damages of $150,000.00, FINRA reports.
John Pronovost has spent 29 years in the securities industry with three different firms, and has been registered with Cambridge Investment Research in Watertown, Connecticut and Nantucket, Massachusetts since February 29, 2008, FINRA states. His previous registrations also include MML Investors Services in Watertown, Connecticut (1996-2008) and GR Phelps & Company (1989-1996), FINRA reports.
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.
Securities Lawyer Investigating
The Rosca Scarlato LLC law firm represents investors who lose money as a result of investment-related fraud or misconduct and are currently investigating John Pronovost’s alleged unsuitable investments. The firm takes most cases of this type on a contingency fee basis and advance 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 John Pronovost’s alleged unsuitable investments 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.
