Can I recover losses from investments with Calton & Associates, Inc. broker Paul Murphy (CRD# 5132291) due to unsuitable investment recommendations? He has been registered with Calton & Associates, Inc. in Ocala, Florida since 2015.
Paul Murphy Customer Complaints
He has been the subject of six customer complaints between 2010 and 2021, according to his CRD report. The most recent complaints are regarding:
November 2021. “Unsuitable Investments, Breach of Fiduciary Duty Dates are from April 2015 – October 2015.” The customer is seeking $132,122.44 in damages and the case is currently pending. The complaint took place while he was registered with Calton & Associates, Inc. and was regarding real estate securities.
November 2021. “Unsuitable Investments, Breach of Fiduciary Duty. Dates range from 8/2014 – 6/2016.” The customer is seeking $457,173.69 in damages and the case is currently pending. The complaint took place while he was registered with Calton & Associates, Inc. and was regarding real estate securities.
October 2020. “Suitability, Misrepresentation , Breach of Fiduciary Duty. Date range 2013 – 2020.” The customer sought $50,000 in damages and the case was settled for $12,734. The complaint was regarding real estate securities and business development companies (BDCs) and took place while he was registered with Newport Coast Securities and Calton & Associates, Inc.
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, Calton & Associates, Inc. may be liable for investment or other losses suffered by Paul Murphy’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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