Russell Green Allegedly Violated Pennsylvania Unfair Trade Practices Law

Russell Green (CRD #: 1391627), a broker registered with Cabot Lodge Securities, is the subject of an investor dispute. This is according to his BrokerCheck record, accessed on May 21, 2024. Keep reading if you have questions regarding his alleged conduct. 

Investor Allegations 

On March 21, 2024, an investor alleged that Russell Green violated the Pennsylvania Unfair Trade Practices and Consumer Protection Law. He also allegedly engaged in common law fraud and breached implied contractual duties. The investor further alleged negligence. The investor is seeking $410,000. 

There are three other settled disputes on his record. The most recent dispute, dated August 30, 2017, alleges that Russell Green engaged in excessive trading and recommended unsuitable investments. The investor sought $1,250,000 and the dispute settled for $250,000. 

Negligence

Many types of broker misconduct may qualify as negligence. Typical examples include unsuitable investment recommendations, misrepresentations or omissions of material fact, and failure to follow instructions.

What is an Unsuitable Investment?

FINRA Rule 2111 requires brokers to evaluate whether an investment strategy fits their investor’s financial goals. Brokers must examine the investor’s profile, which contains the following investor characteristics:

• Age
• Risk tolerance
• Time horizon (i.e., how long the investor plans to hold the investment)
• Investing experience
• Tax status
• Financial goals

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

Background Information 

Russell Green has passed the following exams:

• Series 65 Uniform Investment Adviser Law Examination 
• Series 63 Uniform Securities Agent State Law Examination 
• Series 52TO Municipal Securities Representative Examination 
• SIE – Securities Industry Essentials Examination 
• Series 3 National Commodity Futures Examination 
• Series 7 General Securities Representative Examination 
• Series 9 General Securities Sales Supervisor – Options Module Examination 
• Series 10 General Securities Sales Supervisor – General Module Examination
• Series 4 Registered Options Principal Examination 
• Series 8 General Securities Sales Supervisor Examination (Options Module & General Module)  
• Series 24 General Securities Representative Examination 
• Series 53 Municipal Securities Principal Examination 

He is a registered broker in eight states and is a registered investment adviser in Connecticut, Florida, and New York. 

During his 38 years of experience, Russell Green registered with nine firms. These are the four most recent: 

• Cabot Lodge Securities (CRD #: 159712) 
• CL Wealth Management (CRD #: 134922) 
• B. Riley Wealth Management (CRD #: 2543) 
• HD Brous & Co. (CRD #: 22062) 

Kurta Law Can Help 

If you have worked with Russell Green and have concerns about your investments, do not hesitate to contact us at 877-600-0098 or email info@kurtalawfirm.com 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 that 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. Do not let securities fraud go unchecked. Start your recovery process today.