Jimmy Driggers Facing a $4 Million Dispute

Jimmy Driggers (CRD #: 1359593), a broker previously registered with Morgan Stanley, is involved in several investor disputes, according to his BrokerCheck record, accessed on December 17, 2024. Keep reading for more details.

Investor Disputes

On November 1, 2024, multiple investors alleged that Jimmy Driggers made misrepresentations and violated Regulation Best Interest with regard to an alternative investment strategy from 2012-2021. This dispute is currently pending.

On April 12, 2022, investors who are grantors and beneficiaries of a trust alleged that Jimmy Driggers used funds from Liquidity Asset Lines to invest in an outside real estate investment owned by Jimmy Driggers.

They alleged that these Liquidity Asset Lines were set up without their knowledge and that he did this in concert with the Trustee. The investors are seeking to recover $4 million in this pending dispute.

Another pending dispute, filed on August 24, 2020, alleges that Jimmy Driggers recommended unsuitable alternative investments from 2016-2020. The investor seeks $200,000 in this pending dispute.

On November 22, 2016, an investor alleged that Jimmy Driggers recommended unsuitable corporate bonds from 2014-2015. They sought $64,000 in damages but the firm denied the dispute.

However, investors can still seek out FINRA arbitration and potentially recover their losses even if a firm denies their dispute.

FINRA Rule 2020

FINRA Rule 2020 prohibits the use of manipulation, deception, and other fraudulent methods to influence the purchase and sale of securities. This includes the misrepresentation or omission of information, such as an investment’s charges, fees, and requirements.

FINRA 2111

FINRA Rule 2111 requires brokers to consider investors’ financial goals when recommending investments. Brokers must take into account an investor’s investing experience, age, tax status, risk tolerance, and other information described in their profile.

Investors who rely on brokers for recommendations may be able to recover their losses by pursuing FINRA arbitration.

Regulation Best Interest

Regulation Best Interest (Reg-BI) is an SEC regulation that requires brokerage firms to put their clients’ best interests first. For example, firms must conduct reasonable due diligence when researching investments to ensure their recommendations are suitable for the investor.

Outside Business Activities

Jimmy Driggers’ detailed BrokerCheck page does not currently list any outside business activities.

Background Information

Jimmy Driggers 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 3 National Commodity Futures Examination
• Series 31 Futures Managed Funds Examination
• Series 7 General Securities Representative Examination
• Series 24 General Securities Principal Examination

Jimmy Driggers has worked for the following firms:

• Morgan Stanley (CRD #: 149777)
• Morgan Stanley (CRD #: 8209)
• UBS Financial Services (CRD #: 8174)
• Prudential Securities Incorporated (CRD #: 7471)
• Everen Securities (CRD #: 19616)
• Cozad Investment Services (CRD #: 10065)
• Escalator Securities (CRD #: 16985)
• Investacorp (CRD #: 7684)
• W. Gant & Associates (CRD #: 7963)

Kurta Law Can Help

If you worked with Jimmy Driggers 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.