Eugene Garner Embroiled in Investor Dispute Alleging Misrepresentation
Eugene Garner (CRD #:4892619), a broker registered with David Lerner Associates, is involved in an investor dispute, according to his BrokerCheck record, accessed on March 20, 2022. He is also an investment advisor registered with Spirit Of America Management Corp.
According to the allegations filed on January 11, 2022, Eugene Garner misrepresented a hold recommendation of Energy 11, Energy 12, and SOAEX.
The investor is seeking $650,000一the case is still pending.
Misrepresentation Violates FINRA Rule 2010
Misrepresentation is a common problem in the securities industry. It usually occurs when an investment broker makes false or misleading statements about a financial product in an effort to persuade their customer to invest.
The following can be considered as misrepresentation or omission:
- Inadequate due diligence concerning security offerings
- Failure to disclose all material risks
- Failure to disclose all transaction costs
- Inaccurate investment performance calculation
Misrepresentations and omissions concerning material facts in investment recommendations deprive investors of the information they need to assess risks associated with a particular investment. FINRA Rule 2020 prohibits brokerage firms and stockbrokers from making material misrepresentations.
Losses that can be attributed to a stockbroker’s material misrepresentations of facts may result in a viable securities arbitration claim for damages.
Eugene Garner has passed the following exams:
- Series 65 – Uniform Investment Adviser Law Examination
- Series 63 – Uniform Securities Agent State Law Examination
- SIE – Securities Industry Essentials Examination
- Series 7 – General Securities Representative Examination
He is a registered broker in 22 states and is a registered investment advisor in New Jersey.
Besides David Lerner Associates and Spirit Of America Management Corp, Eugene Garner has not worked with any other firm.
Kurta Law Can Help
If you have worked with Eugene Garner and have concerns about your investments, don’t hesitate to contact us today at 877-600-0098 or firstname.lastname@example.org for a free consultation.
For nearly 20 years, Kurta Law has advocated for investors to recover their investment losses from brokers and brokerage firms. Kurta Law is a nationally recognized law firm and exclusively represents investors against brokers and brokerage firms on a contingency basis. This means that the firm only earns a fee if our securities attorneys recover money on your behalf. Please reach out if you have any questions about what steps to take next to recover your investment losses.