Erez Law is interested in speaking with investors who may have suffered losses due to investments with McDonald Partners LLC broker Thomas McDonald (CRD# 326904). He has been registered with McDonald Partners LLC in Cleveland, Ohio, since 2005.
In May 1990, the New York Stock Exchange (NYSE) sanctioned him to a consent to censure regarding allegations that he “violated exchange rule 342 a in that he failed to reasonably supervise the activities of an employee under his supervision.”
Thomas McDonald Customer Complaints
He has been the subject of four customer complaints between 2019 and 2023, according to his CRD report:
January 2023. “Claimant alleges that RR did not accurately disclose all material facts in connection with its 2014 and 2015 investments in a private offering of securities.” The customer sought $500,000 in damages, and the case was settled for $262,500. The complaint was regarding private placement losses.
October 2020. “Claimant alleges Mr. McDonald did not disclose, and did not accurately disclose, all material facts in connection with Claimant’s investment in a private placement offering, and did not provide updates and other documents after Claimant made the investment.” The customer sought $250,000 in damages, and the case was settled for $175,000. The complaint was regarding private securities and direct investment losses.
September 2019. “Claimants allege Mr. McDonald did not provide sufficient information regarding source of funds raised for, and used to close, contingency offering, and did not provide accurate information regarding status of underlying project.” The customer sought $250,000 in damages, and the case was settled for $82,500. The complaint was regarding private securities losses.
February 2019. “McDonald was named in a customer complaint that asserted the following causes of action: violations of the Ohio Securities Act; negligence; breach of contract; breach of fiduciary duty; and fraud.” The customer sought $550,580 in damages, and the client was awarded $160,000 in compensatory damages.
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, McDonald Partners LLC may be liable for investment or other losses suffered by Thomas McDonald’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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