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Shawn Burns Formerly With Salomon Whitney Financial Has 24 Customer Complaints For Alleged Broker Misconduct

Who is Shawn Burns formerly with Salomon Whitney Financial?

Shawn Burns (CRD #3138114) who was formerly registered with Salomon Whitney Financial and located in Farmingdale, New York is a subject of one of our many securities industry sales practice abuse investigations.

Shawn Burns was also the subject of a FINRA investigation and failed to respond to its request for information.  As a result, he was permanently barred from any further association with any member firm in any capacity.

Shawn Burns Customer Complaints

Shawn Burns has been the subject of 24 customer complaints that we know about. Eighteen of Shawn Burns’ 24 customer complaints were settled in favor of investors. Four of Shawn Burns’ customers’ complaints were denied and, to date, the customers have not taken any further action. There are currently two pending customer complaints filed against Murphy & Durieu and Salomon Whitney Financial for investment losses caused by Shawn Burns’ alleged misconduct.

Allegations Against Shawn Burns

A sample of the allegations made in the FINRA reported arbitration claim settlements and/or pending complaints for investment losses are as follows:

  • Shawn Burns’ alleged churning, negligence, unsuitability, unauthorized trading, breach of contract.
  • Client alleged unauthorized trading by Shawn Burns.
  • Customer alleged excessive, unsuitable and unauthorized trading in his accounts made by Shawn Burns.
  • Excessive trading, suitability, negligence allegedly by Shawn Burns.
  • Excessive trading, unsuitable investment strategy recommendations, negligence, breach of contract allegedly committed by Shawn Burns.
  • Shawn Burns’ alleged failure to follow instructions resulting in loss of investment.
  • Shawn Burns’ alleged failure to place a stop loss order on 10,000 shares of CIENA Corp.
  • Shawn Burns’ alleged fraud, churning, misrepresentation, suitability and breach of fiduciary duty.
  • Allegedly Shawn Burns was not authorized to buy 1500 WNR with check received; the check allegedly should have been placed in retirement account.
  • Shawn Burns’ alleged Suitability, Breach of Fiduciary Duty, Breach of Contract.
  • The customer claimed Shawn Burns allegedly used high pressure sales tactics to purchase securities and/or equities.
  • The customer claimed that during his time with Salomon Whitney and Cape Securities, Shawn Burns allegedly practiced high-pressure sales with him, churned his account, and recommended unsuitable trades.
  • Unauthorized trading allegedly by Shawn Burns.
  • Unsuitability, Churning, execution of trades without customer approval, misstatements/or Omission of material facts allegedly by Shawn Burns.
  • Shawn Burns’ alleged unsuitable investments, excessive trading.
  • Shawn Burns’ alleged unauthorized use of margin.
  • Shawn Burns’ alleged breach of fiduciary duty, negligence, breach of contract.
  • Churning, unauthorized trading, breach of fiduciary duty, lack of supervision, common law fraud and negligence allegedly made by Shawn Burns.
  • Shawn Burns’ alleged unsuitability, breach of fiduciary duty, negligence, breach of contract.
  • Shawn Burns’ alleged unsuitability, omissions and misrepresentations, breach of fiduciary duty, unauthorized trading, and negligence.

Shawn Burns Red Flags & Your Rights As An Investor

Of course, Shawn Burns 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 Shawn Burns at Salomon Whitney Financial on alert to review carefully the activity and performance of their accounts and question whether Shawn Burns has engaged in any stockbroker misconduct that may have caused them investment losses. The large number of customer complaints at Salomon Whitney Financial 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 Salomon Whitney Financial Due To Shawn Burns

If you have questions about Salomon Whitney Financial and/or Shawn Burns 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.

Author Photo

Robert Wayne Pearce

Robert Wayne Pearce of The Law Offices of Robert Wayne Pearce, P.A. has been a trial attorney for more than 40 years and has helped recover over $170 million dollars for his clients. During that time, he developed a well-respected and highly accomplished legal career representing investors and brokers in disputes with one another and the government and industry regulators. To speak with Attorney Pearce, call (800) 732-2889 or Contact Us online for a FREE INITIAL CONSULTATION with Attorney Pearce about your case.

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