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Jimmy Yang Driggers: $4.4 Million In Investor Complaints

December 30, 2022

Investment Losses with Jimmy Yang Driggers of Morgan Stanley? KlaymanToskes Has Recovery Options

National investment fraud lawyers KlaymanToskes is currently investigating Jimmy Yang Driggers (CRD# 1359593) after four customer complaints alleging over $4 million in collective damages were filed against the previously registered broker and investment advisor. According to Brokercheck, Driggers was registered with Morgan Stanley from 2009-2021 in Sarasota, FL.

Four Customer Complaints Against Jimmy Yang Driggers: 

  1. Customers allege they are grantors and beneficiaries of a trust and that their financial advisor, in concert with the trustee, used funds from Liquidity Asset Lines without their knowledge to invest in an outside real estate investment owned by their advisor and his family. From the time period of April 2008 to April 2022. (Pending, Alleged Damages $4,000,000)
  2. Customer alleges unsuitability with regard to alternative investments in hedge funds in the time period of August 2016 to July 2020. (Pending, Alleged Damages $200,000)
  3. Customer alleges the structured notes he purchased were misrepresented and unsuitable, and that the risk of loss of principal was not properly disclosed to him. (Settled for 207,000)
  4. Customer alleges corporate bond purchases were unsuitable in the time period of 2014 to 2016. (Alleged $64,000)

How Can I Recover My Losses?

If you have suffered investment losses at the hands of Jimmy Yang Driggers or Morgan Stanley’s Sarasota, FL branch, contact attorney Lawrence L. Klayman at (888) 997-9956 or lklayman@klaymantoskes.com to discuss your recovery options.

Red Flags: Notable Broker Disclosures at Morgan Stanley’s Sarasota, FL Branch

REPRESENTATIVE
NAME AND CRD#
STATUS/ # of DISCLOSURES NOTABLE DISCLOSURES PRIOR/CURRENT
REGISTRATIONS
Todd AdamSacks

(CRD# 2219243)

2 disclosures;Branch Manager

Currently Registered with Morgan Stanley

In Sarasota, FL

1. Customer alleges branch manager did not properly supervise financial advisor (Settled for $425,000)

2. Customer alleges unauthorized, unsuitable, and excessive trading
(Pending)

Citigroup Global Markets

(2000- 2009)

Bedminster, NJ

Randall Arthur Ridenour

(CRD# 720899)

6 disclosures;

Currently Registered with Morgan Stanley

In Sarasota, FL

1. Customer alleges their account was not suitably diversified and they were not advised of the risk of their investments
(Settled for $75,000)2. Customer alleges investment in REO III fund was unsuitable
(Settled for $200,000)
UBS Financial Services

(2001- 2010)

Sarasota, FL

Daniel Richard Smith

(CRD# 1556990)

3 disclosures;

Currently registered with Morgan Stanley

In Sarasota, FL

1. Customer alleges unsuitability with respect to alternative investments
(Pending, Alleged Damages $200,000)2. Customer alleges structured notes purchased were misrepresented and unsuitable
(Settled for $207,000)
Morgan Stanley

(2008 – Present)

Sarasota, FL

Jean-PierreDaniel
Gobic(CRD# 4380699)
2 disclosures;Currently Registered with Morgan Stanley

In Sarasota, FL

1. Customer alleges complaint arose out of the sale of an auction rate security
(Settled for $100,000)2. Customer alleges complaint arose out of the sale of an auction rate security
(Settled for $25,000)
UBS Financial Services

(2001- 2010)

Sarasota, FL

 

KlaymanToskes encourages investors who did business with any of the brokers listed above, Jimmy Yang Driggers, and/or Morgan Stanley’s Sarasota, FL branch to review their portfolios for signs of broker misconduct or investment losses. Contact Lawrence L. Klayman, Esq., at 888-997-9956, or lklayman@klaymantoskes.com to discuss your potential case.

About KlaymanToskes

KlaymanToskes is a leading national securities law firm which practices exclusively in the field of securities arbitration and litigation on behalf of retail and institutional investors throughout the world in large and complex securities matters. The firm has recovered more than $250 million for investors in FINRA arbitrations and over $350 million in other securities litigation matters for its clients. KlaymanToskes has office locations in California, Florida, New York, and Puerto Rico.

Contact

KlaymanToskes, P.A.
Lawrence L. Klayman, Esq.
888-997-9956
lklayman@klaymantoskes.com
www.klaymantoskes.com