There are options for clients of Stifel, Nicolaus & Company, Incorporated broker Loren Morrison (CRD# 4578161) who suffered investment losses. He has been registered with Stifel, Nicolaus & Company, Incorporated in Southfield, Michigan, since 2021. Previously, he was registered with LPL Financial LLC in Southfield, Michigan, from 2009 to 2021.
Loren Morrison Customer Complaints
He has been the subject of four customer complaints between 2010 and 2022, according to his CRD report. The most recent complaints are regarding:
December 2022. “Claimants allege violation of Michigan Uniform Securities Act and Consumer Protection Act, unsuitable recommendations, breach of contract, common law fraud, breach of fiduciary duty and negligence.” The case is currently pending. The complaint was regarding common and preferred stocks, which occurred while he was registered with Stifel, Nicolaus & Company, Incorporated.
August 2022. “Claimant alleges negligence, breach of contract, breach of fiduciary duties, failure by respondents to know their customer and unsuitable investments.” The customer is seeking $1,843,116.64 in damages, and the case is currently pending. The complaint was regarding common and preferred stocks, which occurred while he was registered with Stifel, Nicolaus & Company, Incorporated.
June 2022. “Claimant alleges failure to conduct adequate due diligence prior to making a recommendation, unsuitable recommendation, negligence, excessive trading, unauthorized trading, breach of fiduciary duty, and breach of contract.” The customer is seeking $2 million in damages, and the case is currently pending. The complaint was regarding common and preferred stocks, which occurred while he was registered with Stifel, Nicolaus & Company, Incorporated.
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, Stifel, Nicolaus & Company, Incorporated may be liable for investment or other losses suffered by Loren Morrison’s customers.
Erez Law represents investors in the United States for claims against brokers and brokerage firms for wrongdoing. If you have experienced investment losses, please call us at 888-840-1571 or complete our contact form for a free consultation. Erez Law is a nationally recognized law firm representing individuals, trusts, corporations and institutions in claims against brokerage firms, banks and insurance companies on a contingency fee basis.
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