Last Updated: February 2024 (Southfield, MI)
Loren Morrison Investigation Summary
Here’s what you need to know about Southfield, MI, stockbroker Loren Morrison:
- Name: Loren Justin Morrison
- Current Employer: Stifel Nicolaus & Company
- Previous Firms: LPL Financial, Echotrade LLC, UBS Financial
- Function: Stock Broker/ Financial Advisor/ Registered Investment Advisor
- Aliases: Loren Morrison
- Primary Location: Southfield, MI
- CRD 4578161
- Can Loren Morrison be sued in FINRA arbitration: Yes
- Sanctioned by FINRA: No
- Discloses currently outstanding Tax Liens: Yes
- Highest Settlement or Award: $2 Million
- Pending Customer Dispute Seeks Damages of $1,843,116
Discuss your case with experienced investment fraud lawyer Bob Rex at (877) 224-3199 for a free consultation.
Did You Lose Money With Loren Morrison As Your Stockbroker?
In 8/2023 a customer of Stifel Nicolaus was paid $2,000,000 to resolve a FINRA arbitration alleging that Loren Morrison failed to conduct adequate due diligence pror to making a recommendation, made unsuitable recommendations, traded excessively and made unauthorized trades.
Another Stifel Nicolaus customer filed a FINRA arbitration in 12/2022 alleging that Morrison violated the Michigan Securities Act and Consumer Protection Act, made unsuitable recommendations and committed common law fraud. Damages of $1.8 Million are sought in this currently pending matter.
Morrison discloses the following currently outstanding tax liens, filed in Oakland County, MI:
- IRS, $115,773, filed 2/23/2022
- IRS, $18,722, filed 6/13/2022
- State of Michigan, $14,078, filed 4/23/2023
[LEARN MORE]:What is Unauthorized Trading?
[LEARN MORE]: Other Cases Involving Unauthorized Trading
Allegations of Broker Misconduct Against Loren Morrison
Customers of Loren Morrison have alleged the following wrongdoing in connection with the handling of customer accounts:
- Unsuitable Investment Recommendations
- Unauthorized Trading
- Excessing Trading (Churning)
- Common Law Fraud
- Violations of Michigan Uniform Securities Act and Consumer Protection Act
- Breach of Fiduciary Duty
- Failed to Conduct Adequate Due Diligence
[LEARN MORE]: What is Excessive Trading (Churning)?
The Financial Industry Regulatory Authority (FINRA) is the agency that licenses and regulates stockbrokers and brokerage firms. FINRA requires brokers and brokerage firms to report customer complaints and disputes as well as regulatory sanctions. In addition brokers are required to disclose certain financial matters such as personal bankruptcies, judgments and liens.
Recover Your Investment Losses Now With Rex Securities Law
[LEARN MORE]: Our Investigations of other Stifel Nicolaus brokers
If you have suffered investment losses in an account handled by Loren Morrison, contact us for a complimentary consultation with an experienced securities lawyer to learn how you may be able to recover damages through FINRA arbitration.
With offices in Boca Raton, FL and Austin, TX, stockbroker fraud attorney Bob Rex provides representation to investors nationwide who are seeking recovery of investment losses due to the negligence or fraud of stockbrokers, financial advisors and broker dealers.
If you have questions about how your account has been handled, call (877) 224-3199 to speak with an experienced securities attorney at no cost to you.
Most cases are handled on a contingent fee basis meaning that you do not pay legal fees unless we are successful.
