Former Wedbush Securities broker Jonathan Hilton Malinger is now the subject of three customer dispute disclosures on FINRA BrokerCheck, including two pending arbitrations filed in June 2026 and a September 2025 case that was settled for $550,000.
The allegations range from unauthorized trading and breach of fiduciary duty to California financial elder abuse and professional negligence. Together, the three customer disputes involve nearly $1.25 million in claimed and settled damages tied to Malinger’s conduct during his time at Wedbush. For investors who held accounts with Malinger and experienced losses or trades they did not approve, understanding the full scope of his public record is a critical first step.
If you held accounts with Jonathan Malinger at Wedbush Securities and experienced unexpected losses or trades you did not authorize, the unauthorized trading attorneys at Meyer Wilson Werning are reviewing claims now. Contact us today for a free and confidential consultation, and you pay nothing unless we recover for you.
Who Is Jonathan Hilton Malinger and What Does His BrokerCheck Record Show?
Jonathan Hilton Malinger (CRD# 5201626) is a previously registered broker with 18 years of experience in the securities industry. He was registered with Wedbush Securities Inc. in Pasadena, California from February 2022 through March 2026. Prior to Wedbush, he was registered with Hilltop Securities Inc. in Pooler, Georgia from December 2008 through March 2022, and with M.L. Stern & Co., LLC in Beverly Hills, California from May 2007 through December 2008. He is no longer registered with any FINRA member firm or state regulator.
According to Malinger’s publicly available FINRA BrokerCheck record, he carries four disclosures: three customer disputes and one criminal matter. The customer dispute history reflects a sharp escalation in the volume and severity of allegations over a short period, with all three complaints tied to conduct during his years at Wedbush Securities.
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What Are the Three Customer Complaints Against Jonathan Malinger?
The three customer disputes on Malinger’s BrokerCheck record are as follows:
- June 29, 2026, Pending. A claimant alleges breach of fiduciary duty, negligence, breach of contract, unauthorized trading, failure to execute, failure to supervise, and FINRA rule violations tied to conduct in 2024. The claimant is seeking $499,999 in damages.
- June 26, 2026, Pending. A second claimant, filing three days earlier, raises substantially the same allegations: breach of fiduciary duty, negligence, breach of contract, unauthorized trading, failure to execute, failure to supervise, and violations of FINRA conduct rules related to conduct in 2024. This claimant is seeking $200,000 in damages.
- September 5, 2025, Settled for $550,000. A claimant alleged California financial elder abuse in violation of Welfare and Institutions Code Section 15600 et seq., breach of fiduciary duty, professional negligence, and violations of California law and FINRA rules. This case has been resolved through a settlement of $550,000.
The two June 2026 complaints were filed within three days of each other and share nearly identical allegations, suggesting multiple clients may have experienced similar issues with Malinger’s trading activity during the same period. Both remain pending with no reported resolution.
Why Does Wedbush Securities’ Supervisory History Matter to Affected Investors?
The allegations against Malinger do not exist in isolation. Wedbush Securities is a Los Angeles-based broker-dealer with a documented regulatory history involving supervisory failures and compliance breakdowns. In December 2021, the SEC announced charges against the firm for unregistered offers and sales of microcap securities and for failing to file suspicious activity reports as required under federal anti-money-laundering rules. The firm has also faced disciplinary actions from NYSE Arca related to inadequate supervisory systems for detecting manipulative trading activity.
Under FINRA Rule 3110, brokerage firms are required to establish and maintain supervisory systems reasonably designed to detect and prevent violations by their registered representatives. When a firm fails that obligation, investors harmed by a broker’s misconduct may have independent grounds for claims directly against the firm. The recurring pattern of supervisory deficiencies at Wedbush, combined with the current allegations of unauthorized trading and negligence against Malinger, makes firm-level liability a relevant and serious consideration for affected investors.
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How Meyer Wilson Werning Can Help
Three customer disputes totaling nearly $1.25 million in claimed and settled damages, two of them filed within days of each other and carrying near-identical allegations, describe a pattern of conduct that warrants serious attention from any investor who trusted Jonathan Malinger with their savings. The September 2025 settlement of $550,000 confirms that at least one set of claims against him has already been resolved in a claimant’s favor.
With more than $350 million recovered for investors nationwide, Meyer Wilson Werning has spent over 25 years holding brokerage firms and their representatives accountable for unauthorized trading, elder financial abuse, unsuitable recommendations, and failure to supervise. If you held accounts with Jonathan Malinger at Wedbush Securities and believe you experienced losses tied to trades you did not authorize or recommendations that did not serve your best interests, contact us today for a free and confidential consultation. You pay nothing unless we recover for you.
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Frequently Asked Questions
How many customer complaints does Jonathan Hilton Malinger have on his BrokerCheck record?
Jonathan Hilton Malinger (CRD# 5201626) has three customer dispute disclosures and one criminal disclosure listed on FINRA BrokerCheck. The customer disputes include a September 2025 case that settled for $550,000 and two pending arbitrations filed in June 2026 that together seek $699,999 in damages.
What happened with the September 2025 arbitration involving Jonathan Malinger?
The September 2025 customer dispute alleged California financial elder abuse, breach of fiduciary duty, professional negligence, and violations of California law and FINRA rules. That case is no longer pending. It was settled for $550,000, as reflected in Malinger’s publicly available BrokerCheck record.
What do the two June 2026 complaints against Malinger allege?
Two separate claimants filed customer disputes against Jonathan Malinger in June 2026, three days apart. Both allege breach of fiduciary duty, negligence, breach of contract, unauthorized trading, failure to execute, failure to supervise, and violations of FINRA conduct rules related to conduct in 2024. The complaints seek $200,000 and $499,999 respectively, and both remain pending.
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