Goodman & Nekvasil P.A, May Recover Investor Losses – John Hoyt Williams, Jr. (Hoyt Williams) Suspended by FINRA and Fired by LPL Financial LLC
From 1999 until Hoyt Williams’s firing in 2013, Hoyt Williams was licensed with LPL Financial LLC. Hoyt Williams was then licensed with Cambridge Investment Research, Inc. According to FINRA’s records, Hoyt Williams was fired by LPL Financial LLC on July 5, 2013. LPL Financial LLC reported to FINRA that Hoyt Williams was fired after being accused of violating firm policy regarding outside business activities.
Subsequent to Hoyt Williams’s firing, FINRA brought a disciplinary action against Hoyt Williams. Hoyt Williams consented to a 3-month suspension, a $10,000 monetary fine, and a $12,880 disgorgement sanction. FINRA reports that Hoyt Williams consented to the entry of findings that Hoyt Williams participated in three private securities transactions without providing prior written notice to his member firm. The findings stated that Hoyt Williams helped three customers obtain loans secured by their securities. The customers pledged securities valued at approximately $700,000 for non-recourse loans totaling approximately $500,000. They were exposed to the risk of suffering losses of approximately $200,000, according to FINRA.
If you lost any money on investments with Hoyt Williams, you may be able to recover your losses from LPL Financial LLC and/or Cambridge Investment Research, Inc. This is because LPL Financial LLC and Cambridge Investment Research, Inc. had a duty to supervise Hoyt Williams.
If you lost money on investments with Hoyt Williams, 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 LPL Financial LLC and/or Cambridge Investment Research, Inc., concerning Hoyt Williams’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 $170 million on behalf of victimized investors. If you lost money on any investments with Hoyt Williams 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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