Jarrett Lilien Involved in a Pending Dispute

Jarrett Lilien (CRD #: 1337819), a broker registered with WisdomTree Securities, is involved in a pending dispute, according to his BrokerCheck record, accessed on January 26, 2023. If you have questions about his alleged conduct as a broker, keep reading.

Pending Action

On November 11, 2022, Jarrett Lilien was named in a class action dispute alleging that he and other defendants sold Voyager Financial Products at artificially inflated prices. The dispute alleges violations of the following:

• Securities Act of 1933 Sections 5, 12(a)(1), and 15
• California Corporations Code Sections 25110, 25503, 25504
• New Jersey Uniform Securities Law, N.J.S.A. Sections 49:3-60 and 49:3-71-D

The dispute also alleges unjust enrichment. This action is currently pending.

Securities Act of 1933

Section 5 of the Securities Act of 1933 prohibits the sale of unregistered securities.

Section 12(a)(1) makes the sellers of unregistered securities liable for legal action by anyone who purchased those securities. This also applies to sellers who made untrue statements or omitted material facts with regard to the sale of securities.

Section 15 identifies “control persons,” those who in some way hold control or authority over another person, as equally liable for the same violations as that controlled person. This section also identifies people who aid and abet in violations of securities regulations as liable for their actions.

California Corporations Code

California Corporations Code Section 25110 prohibits the sale of unregistered securities.

New Jersey Uniform Securities Law

Section 49:3-60 of the New Jersey Uniform Securities Law prohibits the sale of unregistered securities unless they are exempt as defined under the law.

Section 49:3-71-D establishes the liability of control persons with regard to violations of this law.

What are blue sky laws?

Blue sky laws provide investors with an extra layer of protection against fraudulent practices in the securities business. These laws may also define what investments qualify as securities in a state.

Background Information

Jarrett Lilien has passed the following exams:

• Series 63 – Uniform Securities Agent State Law Examination
• Series 99TO – Operations Professional Examination
• SIE – Securities Industry Essentials Examination
• Series 79 – Investment Banking Registered Representative Examination
• Series 7 – General Securities Representative Examination
• Series 24 – General Securities Principal Examination

Jarrett Lilien is a registered broker in New York.

He has also worked for the following firms:

• Foreside Fund Services (CRD#:46106)
• Alternet Securities (CRD#:47867)
• ITG (CRD#:29299)
• Bendigo Securities (CRD#:152529)
• E*Trade Clearing (CRD#:25025)
• E*Trade Securities (CRD#:29106)
• BrownCo (CRD#:1326)
• HarrisDirect (CRD#:42159)
• Marquette Securities (CRD#:24399)
• PaineWebber(CRD#:8174)
• Autranet (CRD#:8192)

Kurta Law Can Help

If you worked with Jarrett Lilien and you have concerns about your investments, please contact us today at 877-600-0098 or info@kurtalawfirm.com for a free consultation.

For over 20 years, Kurta Law has advocated on behalf of investors who want 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.