Meyer Wilson Investigates Potential Investment Fraud Claims Against Jeffrey N. Cadan
The investment fraud attorneys at Meyer Wilson are now investigating possible claims related to financial advisor Jeffrey N. Cadan (CRD# 2726285).
Jeffrey Cadan, who has a total of 18 years’ experience as a registered financial advisor, is not currently registered. In December 2016, Jeffrey Cadan was discharged from his last registered position at Morgan Stanley due to exercise of discretion and investment strategy concerns.
According to Jeffrey Cadan’s report from the Financial Industry Regulatory Authority (FINRA), he has been the subject of 11 customer disputes.
Claimants in five of these disputes raised allegations of investment fraud. Generally, these claimants alleged that beginning as early as 2007, Jeffrey Cadan committed investment fraud related to the purchase of Lehman Brothers products and other investments.
Claimants in these investment fraud disputes sought damage awards ranging from $325,000 to $700,000. These disputes were settled for payments ranging from $155,000 to $345,500.
Other claims raised against Jeffrey Cadan include negligence, overconcentration, unsuitable recommendations, negligent supervision, fraudulent inducement, breach of contract, failure to supervise, failure to disclose a material conflict of interest, and misrepresentation and omission of material information.
Three prior disputes against Jeffrey Cadan were denied. In a fourth dispute, the stockbroker says he was not a named party to the arbitration. Currently, he has no remaining disputes pending.
Jeffrey Cadan also had debt discharged via bankruptcy in November 2012.
Prior to his five-year registration with Morgan Stanley, Jeffrey Cadan was registered with USB Financial Services Inc. from 2005 to 2011, MBSC LLC from 2003 to 2005, Mellon Financial Markets from 2001 to 2003, Sanford C. Bernstein & Co. Inc. from 1999 to 2000, and Datek Securities Corp. from 1996 to 1998.
Investors are entitled to rely on their brokers to use their best professional judgment in the investors’ best interests. The very purpose of employing a broker is to tap into greater investment expertise that the investors themselves do not have.
For such a relationship to work, the broker must be reliable and trustworthy. An investor needs to be able to rely on a broker to act in that investor’s best interests.
In certain circumstances, the duties of an advisor may include a duty to keep abreast of market changes that may affect the investor’s interests, to disclose material information to the investor, to place the investor’s interests ahead of the broker’s or those of the broker’s firm, and to generally exercise due care in the course of serving the investor’s interests.
Brokers who engage in misconduct may be subject to civil liability that translates to restoration of financial losses for the affected investor. At Meyer Wilson, our attorneys have helped hundreds of investors from across the country recover from the effects of investment fraud. Give us a call or fill out our online form to request a free case evaluation.