DID DEREK WILHELM MALONE CAUSE YOU INVESTMENT LOSSES?
Derek Malone Of Osaic Institutions, Inc. Has 4 Customer Complaints For Alleged Broker Misconduct
About Derek Malone of Osaic Institutions, Inc.
Derek Malone (CRD #5495233 ) Located in New York, NY has worked with multiple brokerage firms since starting his career in the financial industry. He is currently employed with Osaic Institutions, Inc. since July 1, 2016, as a registered broker and investment adviser, operating from New York, New York. He was previously registered with Essex National Securities, LLC, from February 2010 to July 2016, and LPL Financial Corporation from April 2008 to February 2010. Malone has passed two general industry/product exams, including the Securities Industry Essentials Examination and the Series 7 General Securities Representative Examination and the Series 66 Uniform Combined State Law Examination. He holds active licenses in New York and New Jersey. However, his record includes no passed principal/supervisory exams or professional designations.
Investment Losses? Let’s talk.or, give us a ring at (800) 732-2889.
Derek Malone Customer Complaints and Reviews
Derek Malone has disclosed four Customer Disputes in his FINRA BrokerCheck report:
- Customer Dispute 1 (2020):
- Complaint: Claim of unsuitable recommendations involving real estate securities
- Alleged Damages: $150,000.
- Outcome: This case was settled for $55,000.
- Dispute 2 (2021):
- Complaint: Claims of misleading a client about the safety and liquidity of a real estate investment trust (REIT)
- Alleged Damages: $44,000.
- Outcome: The complaint was denied.
- Dispute 3 (May 8, 2023):
- Complaint: misrepresentation of certificates of deposit (CDs)
- Firm Involved: Infinex Investments, Inc.
- Alleged Damages: $250,000
- Status: Pending resolution
- Dispute 4 (May 8, 2023):
- Complaint: misrepresentation of certificates of deposit (CDs)
- Firm Involved: Infinex Investments, Inc.
- Alleged Damages: $150,000
- Status: Pending resolution.
Allegations Against Derek Malone
- Four Customer Complaints:
- The most significant allegations involve unsuitable recommendations and misrepresentation of investment products, such as real estate securities and CDs. The pending disputes highlight concerns about transparency and product suitability.
Derek Malone Red Flags & Your Rights As An Investor
Of course, Derek Malone did not admit to any of the allegations. But regardless of whether an arbitration award was entered, a settlement occurred, or the customer complaint is still pending, the allegations made by customers are red flags which should put all current and former customers of Derek Malone at Osaic Institutions, Inc. on alert to review carefully the activity and performance of their accounts and question whether Derek Malone has engaged in any stockbroker misconduct that may have caused them investment losses. The large number of customer complaints at Osaic Institutions, Inc. also raises questions about the brokerage firm’s supervisory practices. If these red flags raise questions, call us and we will inform you of your rights as an investor.
Did You Lose Money Because of Broker Misconduct?
If you have lost money due to negligence or fraud by a stockbroker or advisor, the easiest way to know if you have a case is to call our office at 800-732-2889. Our investment fraud attorneys will evaluate your claim for free and let you know if we can help you recover your losses.
Need Legal Help? Let’s talk.or, give us a ring at 561-338-0037.
File A Claim To Recover Your Investment Losses At Osaic Institutions, Inc. Due To Derek Malone
If you have questions about Osaic Institutions, Inc. and/or Derek Malone and the management or performance of your accounts, please contact Attorney Pearce for a free initial consultation via email or Toll Free at 1-800-732-2889.
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