Erez Law is investigating claims regarding Jeffrey Brian Meyer (CRD #4111125, Lake in the Hills, IL), who has been named a respondent in a FINRA complaint alleging that he acted outside the scope of his employment with his member firms by participating in 37 private securities transactions totaling more than $1.5 million, without providing prior written or oral notice to the firms of his proposed roles in the transactions, or the selling compensation that he was to receive from those transactions. See FINRA Case #2012032758601. Meyer was registered with Waddell & Reed, Inc. (Schaumberg, IL) from January 2006 to September 2009, and then registered with WRP Investments Inc. (Lake in the Hills, IL) from September 2009 to August 2012.
In its complaint, FINRA alleges that between November 2008 and September 2009, while associated with Waddell & Reed, Meyer admittedly participated in private securities transactions by selling corporate guarantees issued by United Private Capital. FINRA also alleges that between January 2010 to July 2012, while associated with WRP Investments, Meyer participated in private securities transactions by selling promissory notes issued by Strategic Lending Solutions, LLC. FINRA further alleges that between August 2010 and July 2012, while associated with WRP Investments, Meyer participated in private securities transactions by selling promissory notes issued by K&M Oil Company, Inc.
In October 2013, the Illinois Secretary of State, Securities Department issued a Final Order of Suspension and Prohibition for Meyer based upon his sale of unauthorized investments in K&M Oil Company, an oil and gas company, while employed at WRP Investments Inc and Waddell & Reed.
Pursuant to FINRA Rules, member firms are responsible for supervising a broker’s activities during the time the broker is registered with the firm. Therefore, Waddell & Reed or WRP Investments may be liable for investment or other losses suffered by Meyer’s customers.
If you were a client of Meyer, Waddell & Reed, or WRP Investments, and have suffered investment losses or financial irregularities, please contact Erez Law to explore your legal options. Erez Law is a nationally recognized law firm representing individuals, trusts, corporations and institutions in claims against brokerage firms, banks and insurance companies. To learn more, please call us at 888-840-1571 or complete our “contact form.”
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