Investigating Potential Claims Against Jeffrey T. Kennedy of Center Street Securities

Understanding the Impact of Unsuitable Investment Recommendations

At Meyer Wilson, we are currently investigating potential claims on behalf of investors who may have experienced financial harm due to the alleged actions of broker Jeffrey T. Kennedy, with CRD Number 5094149, based in Quincy, Illinois. He was associated with Center Street Securities Inc. from March 10, 2010, to December 1, 2023. A number of clients have brought forward FINRA Arbitrations against Kennedy, claiming unsuitable investment recommendations of alternative products, which may have led to significant losses for these individuals.

Accusations of Unsuitable Investment Recommendations

One particular case that came to light on September 12, 2023, involves a client who filed FINRA Arbitration: 23-02432 against Kennedy. The allegation centers around Kennedy’s recommendation and sale of an alternative investment that was deemed unsuitable, potentially resulting in damages estimated between $50,000 and $99,999. This arbitration is currently pending resolution.

Broker Under Scrutiny for Suitability Allegations

In another situation, a complaint was lodged by a client through FINRA Arbitration: 23-01834 on July 6, 2023. The claim suggests that Kennedy provided unsuitable investment recommendations, leading to monetary damages on alternative investments, with the client now seeking compensatory relief totaling $185,000. This matter is also ongoing.

Concerns Over Alternative Investment Suitability

Further adding to the concerns, another client has initiated FINRA Arbitration: 23-01734 on June 22, 2023, regarding Kennedy’s advice. The claim implicates Kennedy in recommending alternative investments that were not aligned with the client’s objectives, prompting a request for $100,001 in compensation. This arbitration is yet to be resolved.

Questionable Corporate Bond Recommendations

A case filed on June 15, 2023, FINRA Arbitration: 23-01668, reflects a client’s dissatisfaction with Kennedy’s guidance on corporate bonds. The client alleges unsuitable advice leading to a purported loss of $110,000, and is seeking this amount in damages. Like the others, this case remains unresolved.

Investor Pursues Claims for Unsuitable Recommendations

An earlier complaint was registered on January 9, 2023, via FINRA Arbitration: 22-02945. The client accused Kennedy of steering them towards unsuitable alternative investments, with reported damages exceeding $100,000. This complaint is also pending resolution.

Seek Expert Legal Counsel for Investment Losses

If you’ve suffered investment losses due to the recommendations made by Jeffrey Kennedy, we at Meyer Wilson urge you to get in touch with us. Our seasoned securities attorneys are dedicated to helping investors across the United States recover their losses. We work on a contingency fee basis, advancing all necessary costs, and are committed to providing our clients with the support they need during these challenging times. Despite Kennedy and the firms he has been affiliated with, including Center Street Securities Inc., denying any wrongdoing, we are here to help you navigate your legal options.

To discuss the potential recovery of your investment losses, please contact Meyer Wilson at 866-938-2021 or visit our website at investorclaims.com. Don’t hesitate to reach out for professional and empathetic legal assistance.

Written by: Courtney Werning, Esq.