brokerwatch

Luke Johnson | Legend Capital Group & Coastal Equities

According to FINRA’s BrokerCheck, Luke Johnson has been the subject of 11 disclosures:

• December, 2019: Customer Disputer – Pending. Allegations: “Financial adviser’s recommendations of alternative investments were unsuitable.”
• November, 2019: Customer Disputer – Pending. Allegations: “Unsuitable investment recommendations, misrepresentation, and breach of fiduciary duty.”
• November, 2019: Employment Separation After Allegations – Discharged. “Registered Representative failed to follow firm policy by failing to timely forward a customer complaint to his supervisor and compliance, and by inconsistently stating a customer’s liquid net worth on client disclosure documents.”
• November, 2019: Customer Disputer – Pending. Allegations: “Financial adviser’s recommendations of alternative investments were unsuitable.”
• September, 2019: Customer Dispute – Pending. Allegations: “Mr. Johnson made an unsuitable recommendation of one product in approximately 2015.”
• August, 2019: Customer Dispute – Pending. Allegations: “Management of the portfolio was negligent and that certain investments made between January 2015 and the present were unsuitable.”
• June, 2019: Customer Dispute – Pending. Allegations: “In 2017-2018, the firm made misrepresentations and omissions of fact to claimants in soliciting the sale of certain private placement investments. Claimants also allege that the firm was negligent in not rejecting the product for sale during its due diligence process.”
• September, 2018: Customer Dispute – Settled. Allegations: “Financial adviser’s recommendations of alternative investments were unsuitable […] three securities in the client’s advisory portfolio were unsuitable for the client.”
• June, 2018: Customer Dispute – Settled. Allegations: “Recommended unsuitable securities purchased in approximately 2015.”
• August, 2017: Customer Dispute – Settled. Allegations: “Recommended unsuitable securities purchased in approximately 2015.”
• February, 2005: Employment Separation After Allegations – Permitted to Resign. Allegations: “An internal review revealed that he signed the name of his office’s designated supervisor on four variable life insurance application forms.”

Prior to Coastal Equities, Luke Johnson was registered with Summit Brokerage Services, Carillon Investments, Northwestern Mutual Investment Services and Robert W. Baird & Co. Incorporated. FINRA maintains a database of investor complaints and disciplinary and employment history for registered representatives and publishes some of this information on its BrokerCheck website, www.brokercheck.finra.org.

If you invested with Luke Johnson of Legend Capital Group, you should contact Peiffer Wolf and Meyer Wilson immediately for a FREE Consultation.

To review Luke Johnson’s BrokerCheck report, click here:

https://brokercheck.finra.org/individual/summary/3257008

*BrokerCheck is run by the Financial Industry Regulatory Authority, Inc. (FINRA)

Luke Johnson and the GPB Lawsuit

Multiple lawsuits have been filed and multiple regulatory matters have been initiated, alleging that GPB Capital Holdings has been engaged in wrongdoing.  A former GPB Holdings partner alleged that “GPB paid its investors significant returns based upon falsified financial information”.

Our investigation into the various GPB private placement funds includes, but is not limited to: GPB Automotive Portfolio LP, GPB Cold Storage LP, GPB Eurobond Finance PLC, GPB Holdings II LP, GPB Holdings III LP, GPB Holdings Qualified LP, GPB Holdings LP, GPB NYC Development LP, GPB Scientific LLC, GPB Waste Management LP, GPB Waste Management Fund LP, and many more.

Financial advisors (brokers) have a legal obligation and regulatory obligation to recommend only suitable investments that are appropriate for their individual clients. Their broker-dealer (employing brokerage firm) has a legal obligation and regulatory obligation to supervise the financial advisor’s sales practices and dealings with clients. To the extent that any of these duties are breached, the customer may be entitled to a recovery of his or her investment losses.

Based on our experience, we believe that there are more investors who have been the victims of Luke Johnson’s alleged broker misconduct and investment fraud. If you invested with Luke Jonhson of Legend Capital Group, you should  contact Peiffer Wolf and Meyer Wilson immediately for a FREE Consultation.

Learn more about the GPB Investor Lawsuit here: https://gpblawyer.com/gpb-investor-lawsuit/

Peiffer Wolf and Meyer Wilson are currently investigating Luke Johnson’s practices, as well as the products he recommended to individual investors. Concerns about possible broker misconduct and investment fraud are serious, and we are committed to fighting on behalf of investors. Contact Us Today for a FREE Consultation. 888-390-6491.