GOODMAN & NEKVASIL P.A, MAY RECOVER INVESTOR LOSSES – JOHN BULKLEY MEACHAM FIRED BY WELLS FARGO ADVISORS, LLC AND PERMITTED TO RESIGN FROM CHAPIN DAVIS
Until very recently, John Meacham was licensed with Capital Portfolio Management, Inc. According to FINRA’s records John Meacham was permitted to resign from Chapin Davis on October 5, 2012, after Chapin Davis was notified that there was a client complaint from John Meacham’s previous employer, Wells Fargo Advisors, LLC. According to FINRA’s records, John Meacham was fired by Wells Fargo Advisors, LLC on March 30, 2010. Wells Fargo Advisors, LLC reported to FINRA that John Meacham was discharged for violating a firm policy related to the handling of firm records. Following John Meacham’s firing by Wells Fargo Advisors, LLC, FINRA investigated John Meacham and brought a disciplinary action against John Meacham. John Meacham consented to a 3-month suspension from the securities and investment banking industry. John Meacham also consented to findings that John Meacham borrowed $50,000 from a Wells Fargo Advisors, LLC customer in contravention of Wells Fargo Advisors, LLC’s procedures. The loan was interest free and did not have any terms of repayment. Wells Fargo Advisors, LLC’s procedures, however, generally prohibited borrowing money from a customer, except in limited circumstances that did not apply to this loan. Moreover, those procedures required registered representatives to obtain Wells Fargo Advisors, LLC’s written approval before entering into such a loan. John Meacham, however, did not seek or obtain Wells Fargo Advisors, LLC’s approval before entering into the loan. The loan remains outstanding, and John Meacham has not made any payments to the customer.
FINRA reports that an arbitration claim involving John Meacham’s conduct with Wells Fargo Advisors, LLC was filed in 2012. The claimant alleged that he was placed into unsuitable investments for the life of his accounts. This case involving John Meacham’s conduct with Wells Fargo Advisors, LLC did not settle and proceeded to final hearing. The arbitration panel issued a $1,802,508.08 award against Wells Fargo Advisors, LLC.
If you lost any money on investments with John Meacham, you may be able to recover your losses from Capital Portfolio Management, Inc., Chapin Davis, and/or Wells Fargo Advisors, LLC. This is because Capital Portfolio Management, Inc., Chapin Davis, and Wells Fargo Advisors, LLC had a duty to supervise John Meacham.
If you lost money on investments with John Meacham and believe that the investments may have been unsuitable or otherwise improper for you, we would like to discuss the possibility of your retaining our firm to represent you in an arbitration action against Capital Portfolio Management, Inc., Chapin Davis, and/or Wells Fargo Advisors, LLC concerning John Meacham’s conduct. 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.
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. Goodman & Nekvasil, P.A. has recovered more than $300 million on behalf of victimized investors. If you lost money on investments with John Meacham 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.
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