National investment fraud lawyers KlaymanToskes is investigating Jerry Lee Parrish (CRD# 4951494) after the Calhoun, Georgia-based stockbroker and investment adviser, registered with Dempsey Lord Smith, LLC, received an investor complaint alleging unsuitable investment advice and investor damages of $3,000,000.
Investors that suffered losses with Jerry Lee Parrish at Dempsey Lord Smith are encouraged to contact attorney Lawrence L. Klayman, Esq., at 888-997-9956, or lklayman@klaymantoskes.com to discuss their recovery options.
According to FINRA BrokerCheck, Jerry Lee Parrish (a/k/a Jay L Parrish) has one pending customer complaint filed on July 18th, 2022. The complaint alleges unsuitable investment recommendations and alleges $3,000,000 in damages to the investor.
Under FINRA (Financial Industry Regulatory Authority) suitability requirements, all registered financial professionals and their firms have a responsibility to recommend suitable financial offerings and trading strategies based on their customers’ financial interests. FINRA Rule 2111 (Suitability) requires that brokerage firms and financial advisors have a “reasonable basis” for recommending investments or investment strategies to their clients.
According to attorney Lawrence L. Klayman, Esq., “The allegations of unsuitable investment recommendations within the investor complaint filed against Jerry Lee Parrish may indicate a lack of supervision at Dempsey Lord Smith’s Calhoun, GA and Rome, GA branches. Other investors at these branch locations may have faced severe losses, and are encouraged to contact us to discuss their recovery options.”
The list below displays 5 other currently registered individuals with notable disclosures, according to their linked FINRA BrokerCheck profiles, at Dempsey Lord Smith’s Rome, GA and Calhoun, GA branches.
Ernest Liddell Smith (CRD# 2205253)
1-6: Customer complaints: Investors alleged theft by deception, civil RICO, GA Securities Act violations, misrepresentation, breach of fiduciary duty, breach of contract, and failure to supervise.
(Settled in favor of the investors for $1,000,000)
Smith violated several of its statutes involving the offers for sale and sales of securities
in violation of the Georgia Securities Act of 1973 (i.e. unlawful practices, dishonest or
unethical practices, charging unreasonable advisory fees, etc.). (Fined $12,500)
Michael David Dose (CRD# 1747180)
Brian Joseph Haney (CRD# 4869021)
Sharon Leigh Burchett (CRD# 1270643)
(Settled for $20,000)
James Mark Maddox (CRD# 4162770)
KlaymanToskes encourages investors who did business with Jerry Lee Parrish and/or any of the brokers listed above at the Calhoun, GA branch and/or Rome, GA branches of Dempsey Lord Smith to review their accounts for signs of investment losses.
Investors that suffered significant losses should contact attorney Lawrence L. Klayman, Esq., at 888-997-9956, or lklayman@klaymantoskes.com to discuss their recovery options. All consultations are free and confidential.
KlaymanToskes is a leading national securities law firm which practices exclusively in the field of securities arbitration on behalf of retail and institutional investors throughout the world in large and complex securities matters. The firm has recovered over $250 million in FINRA arbitrations and over $350 million in other securities litigation matters. KlaymanToskes has office locations in California, Florida, New York, and Puerto Rico.
KlaymanToskes, P.A.
Lawrence L. Klayman, Esq.
888-997-9956
lklayman@klaymantoskes.com
www.klaymantoskes.com