The Law Firm of David R. Chase, representing defrauded stock market investors throughout the nation, is examining multiple customer allegations of serious misconduct regarding former J.P. Morgan Securities stockbroker Rick Konecny.
In March 2016, a client of Rick Konecny alleged that he overconcentrated her investments, through unsuitable and unauthorized trades, in several energy and natural resource stocks between 2013 and 2015. The customer sought damages of $1 million and JP Morgan Securities paid $375,000 in settlement.
In April 2017, a customer of Rick Konecny complained alleging that Konecny effected transactions without the customer’s advance knowledge or authorization, and that the investments were unsuitable and unduly concentrated in certain sectors. The customer alleged damages of $470,000 and JP Morgan Securities paid $315,000 in settlement.
In June 2017, another customer made similar claims, alleging that Rick Konecny effected transactions without prior knowledge or authorization, and that the investments were unsuitable and overconcentrated. The customer sought damages of $400,000 and JP Morgan Securities paid $180,000 in settlement.
There are currently two filed FINRA arbitration claims involving allegations against Rick Konecny. In the first arbitration claim, the customer alleged unsuitability, overconcentration, unauthorized use of margin and misrepresentation involving the recommendation to invest in energy and natural resource stocks. In the second arbitration, the customer made allegations concerning unsuitability, overconcentration and the unauthorized use of margin.
In March 2016, J.P. Morgan Securities discharged stockbroker Rick Konecny on the grounds that he “failed to escalate client matters and failed to follow requirements with respect to execution of trades on a discretionary basis.”
On November 21, 2017, the Financial Industry Regulatory Authority permanently barred Rick Konecny from the securities industry for failing to respond to its request for information.
If you invested with Rick Konecny and JP Morgan Securities or UBS Financial Services and lost money doing so, particularly if such investments involved unauthorized trading, unsuitable investments, overconcentration in energy and natural resource stocks, and the improper use of margin, you may be able to recover some or all of your losses. David Chase, a stockbroker fraud lawyer, is experienced in recovering investor losses due to stockbroker misconduct and mismanagement through the FINRA arbitration process.
FINRA arbitration is a fast, efficient way to attempt to recover your lost investment funds due to unsuitable recommendations. The Law Firm of David Chase, a financial advisor fraud law firm headed by stockbroker fraud lawyer David Chase, works on a contingency fee basis, meaning you pay it nothing unless it recovers money for you.
The Law Firm of David Chase represents defrauded investors all around the country. If you have questions about your ability to recover your investment losses, please contact David Chase for a consultation at email@example.com or toll-free at (800) 760-0912.