Goodman and Nekvasil May Recover Investors Losses | Clifford Morgan, Financial Advisor Barred by FINRA
Clifford Morgan was licensed with Uhlmann Price Securities, LLC from 2007 to 2014. FINRA reports that Clifford Morgan was barred from association with any FINRA member in any capacity indefinitely by the Financial Industry Regulatory Authority (FINRA) Department of Enforcement to resolve allegations FINRA made against him regarding violations of securities industry rules.
FINRA reports that Clifford Morgan consented to the sanction and to the entry of findings that Clifford Morgan participated in private securities transactions without providing the required written notice to his member firm prior to participating in the transactions. FINRA found that Clifford Morgan referred and solicited people, including his firm’s customers, to investment in separate companies’ private securities transactions. FINRA found that Clifford Morgan’s referrals purchased a total of approximately $1.8 million of a company’s promissory notes, while Clifford Morgan personally purchased more than $200,000 of the notes. FINRA found that Clifford Morgan solicited one firm customer to invest $25,000 in return for an equity stake in another company, a corporate entity of which Morgan was a member. FINRA found that Clifford Morgan referred a different firm customer to invest in a third company and based on Morgan’s referral, that customer invested $30,000 in a convertible promissory note. FINRA found that all of the transactions were conducted away from the firm. The findings stated that in connection with Morgan’s referrals to one of the companies, he made material misrepresentations and omissions by forwarding to potential investors, including firm customers, a document created by the company that contained multiple misrepresentations, including falsely stating that the company had completed four deals, overstating its revenue and inaccurately projecting a high return with low risk. The findings also stated that Morgan participated in numerous outside business activities without providing the prior written notice to his firm, disclosing his participation in the outside business activities. FINRA found that Clifford Morgan formed and participated in some of the outside business activities for compensation. Morgan also served in appointed capacities, including as an advisor and as a principal, and as a founding member with others. The findings also included that during the course of FINRA’s investigation Morgan failed to fully and timely comply with FINRA’s requests for information.
Goodman & Nekvasil, P.A., a Clearwater, Florida, law firm with a national practice representing victimized investors, continues to investigate brokerage firms that placed elderly retirees and other conservative investors in high-risk investments.
Kalju Nekvasil, Esq., formerly regional counsel with the NASD, now known as FINRA, has practiced in this area of the law for more than 35 years. We would like to discuss the possibility of your retaining our firm to represent you in an arbitration action.
Goodman & Nekvasil, P.A., has filed hundreds of cases against brokerage firms selling high-risk investments and has recovered more than $180 million dollars on behalf of victimized investors. We allege in these cases that these investment recommendations were unsuitable for our clients in view of their financial situation, needs and investment objectives. All our cases are handled on a purely contingency fee basis.
There is no charge for an evaluation of your case. Further, we handle our cases on a contingency fee basis. This means that unless we recover money for you, we charge no attorney’s fee. Unless you recover any money, you pay us nothing, not even the costs and expenses which the firm will advance on your behalf. Finally, the filing of such a case should not affect your ownership of these investments in any way.
If you incurred losses on your investment with Clifford Morgan and would like your case evaluated by a securities attorney (again, there is no charge for an evaluation and all cases are handled on a purely contingency fee basis), please contact us.