DID LORAN SCOTT COFFMAN CAUSE YOU INVESTMENT LOSSES?
Loran Coffman Formerly With EF Legacy Securities And Sanders Morris Harris Has 4 Customer Complaints For Alleged Broker Misconduct
Who is Loran Coffman formerly with EF Legacy Securities?
Loran Coffman (CRD #1678917) who was formerly registered with EF Legacy Securities and located in Troy, Michigan is a subject of one of our many securities industry sales practice abuse investigations. Prior to EF Legacy Securities, Loran Coffman was associated with Sanders Morris Harris and other investment advisory and brokerage firms with a history of customer complaints and securities industry regulatory problems.
Loran Coffman Customer Complaints
Loran Coffman has been the subject of 4 customer complaints that we know about. One of Loran Coffman’s 4 customer complaints was settled in favor of investors. Three of Loran Coffman’s customers’ complaints were denied and, to date, the customers have not taken any further action.
Allegations Against Loran Coffman
A sample of the allegations made in the FINRA reported arbitration claim settlements and/or pending complaints for investment losses are as follows:
- Client alleged portfolio was over-concentrated in unsuitable investments that were inconsistent with client’s investment objectives and risk tolerance by Loran Coffman.
- The client claimed that he was sold NY Muni Auction Rate securities allegedly by Loran Coffman and it was not disclosed the risks and the fact that certain auctions were failing at the time of the sales.
- Unauthorized and unsuitable purchase allegedly by Loran Coffman.
Loran Coffman Red Flags & Your Rights As An Investor
Of course, Loran Coffman did not admit to any of the allegations. But regardless of whether an arbitration award was entered, a settlement occurred, or the customer complaint is still pending, the allegations made by customers are red flags which should put all current and former customers of Loran Coffman at EF Legacy Securities and Sanders Morris Harris on alert to review carefully the activity and performance of their accounts and question whether Loran Coffman has engaged in any stockbroker misconduct that may have caused them investment losses. The large number of customer complaints at EF Legacy Securities and Sanders Morris Harris also raises questions about the brokerage firms’ supervisory practices. If these red flags raise questions, call us and we will inform you of your rights as an investor.
File A Claim To Recover Your Investment Losses At EF Legacy Securities Due To Loran Coffman
If you have questions about EF Legacy Securities, Sanders Morris Harris, and/or Loran Coffman and the management or performance of your accounts, please contact Attorney Pearce for a free initial consultation via email or Toll Free at 1-800-732-2889.