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Silver Law Group is Investigating Claims Against former Stifel, Nicolaus & Company, Inc. Broker Coleman J. Devlin for Unauthorized Trading in Customer Accounts

Silver Law Group is investigating former Stifel, Nicolaus & Company, Inc. (“Stifel Nicolaus”) broker Coleman Joseph Devlin (“Devlin”) for allegations of executing trades in customer accounts without first obtaining authorization from the customers. Devlin was employed by Stifel Nicolaus’ Baltimore, Maryland office prior to his termination in June 2016.

The Financial Industry Regulatory Authority (“FINRA”) suspended Devlin on 11/6/2017 for a 30 day period ending 12/18/2017 after Devlin, without admitting or denying the findings, consented to FINRA’s findings that he had executed trades in 5 customer accounts without their prior authorization while at Stifel Nicolaus.

Devlin has been the subject of 14 customer disputes of which 2 are currently still pending. The disputes include allegations of unsuitable investments, unauthorized trading, over-concentration of the accounts, breach of fiduciary duty, and negligent supervision. Stifel Nicolaus terminated Devlin’s employment in June 2016 in connection with the customer complaints. A recently filed FINRA arbitration claim is seeking $20,000,000.00 alleging Stifel Nicolaus negligently supervised Devlin.

If you invested with Coleman J. Devlin and believe you have lost money due to his misconduct, you may be able to file a claim to recover your losses through FINRA arbitration. For a free evaluation of your potential case by as securities attorney, please contact Silver Law Group.

Contact Our Firm if You’ve Invested with Coleman J. Devlin and Stifel, Nicolaus & Company, Inc.

Silver Law Group is a nationally-recognized securities law firm headquartered in South Florida representing investors worldwide with their claims for losses due to securities and investment fraud.  The firm has successfully recovered multi-million dollar awards for its clients through securities arbitration and the courts.  To contact Scott L. Silver to discuss your legal matter, call toll-free (800) 975-4345 or e-mail him at SSilver@silverlaw.com.

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