In December of 2014, we posted a blog regarding allegations against J.P. Morgan Securities, LLC and one of the firm’s registered representatives, Robert Owen Klein (CRD# 1254422). At the time, Klein was accused of investing roughly 40% of his clients’ assets in short selling treasury bonds. As a result, the concentrated investments resulted in over $1 million in losses for the clients.
Since our last blog, Klein has been the subject of additional customer complaints, including one in which a client alleges breach of fiduciary duty, breach of contract, negligence, and making unsuitable investment recommendations.
We Have Recovered Over
$350 Million for Our Clients Nationwide.
In October of 2015, a customer complaint against J.P. Morgan Securities LLC. alleged losses of $1.75 million for Klein’s misrepresentation, breach of fiduciary duty in connection with unsuitable investments, improper allocation of assets, misrepresentation, and omissions of information. The customer was awarded $1,150,141.60 in an arbitration against Klein’s member firm, J.P. Morgan Securities LLC., as a result of his alleged misconduct.
According to his BrokerCheck report provided by the Financial Industry Regulatory Authority (FINRA), Klein has been the subject of 11 total customer complaints.
Recovering Losses Caused by Investment Misconduct.
