{"id":11682,"date":"2025-06-06T11:11:37","date_gmt":"2025-06-06T15:11:37","guid":{"rendered":"https:\/\/www.silverlaw.com\/blog\/?p=11682"},"modified":"2025-06-06T11:11:37","modified_gmt":"2025-06-06T15:11:37","slug":"scott-silver-weighs-in-on-investors-request-to-revive-wells-fargo-claim","status":"publish","type":"post","link":"https:\/\/www.silverlaw.com\/blog\/scott-silver-weighs-in-on-investors-request-to-revive-wells-fargo-claim\/","title":{"rendered":"Scott Silver Weighs In On Investor\u2019s Request To Revive Wells-Fargo Claim"},"content":{"rendered":"<p><img loading=\"lazy\" decoding=\"async\" class=\"alignleft wp-image-10372 size-full\" src=\"https:\/\/www.silverlaw.com\/blog\/wp-content\/uploads\/2022\/01\/FiverRecoverysmall.jpg\" alt=\"Silver Law Group founder and managing partner Scott Silver recently commented on a case in which a former Wells Fargo customer requested to have an arbitration decision overturned because he felt that he was \u201cimproperly induced\u201d into signing a release agreement prior to seeking arbitration.\n\n\u201cThis case highlights the way big brokerage firms clean up situations with bad brokers by protecting themselves instead of protecting their customers and advising them of significant misconduct,\u201d \u00a0Scott said in an email to AdvisorHub\n\nThe case stems from a former Wells Fargo broker, Scott Wayne Reed (CRD# 3007033), of Scottsdale, AZ, who persuaded his brokerage customers into investing in a private software company without the firm\u2019s approval, known as \u201cselling away.\u201d\u00a0 The now-defunct entity, called Pebblekick, was a streaming company based in Pasadena, CA. Reed solicited six investors, invested $200,000 of his own funds into the company, and received a commission of $191,340 for his work recruiting six new investors. As a result, FINRA barred Reed from the industry in 2021.\n\nKenneth Grover, the client, originally signed an agreement with Wells Fargo that would forgive his margin call debt with the firm after his broker, Reed, was barred. Grover\u2019s signing of the release agreement in exchange for the debt forgiveness also dismissed any other claim he might have against the wirehouse.\" width=\"300\" height=\"200\" srcset=\"https:\/\/www.silverlaw.com\/blog\/wp-content\/uploads\/2022\/01\/FiverRecoverysmall.jpg 300w, https:\/\/www.silverlaw.com\/blog\/wp-content\/uploads\/2022\/01\/FiverRecoverysmall-180x120.jpg 180w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/>Silver Law Group founder and managing partner Scott Silver recently commented on a case in which <a href=\"https:\/\/www.advisorhub.com\/investor-asks-court-to-resurrect-his-2-5-mln-claim-against-wells-fargo-over-barred-broker\/\" target=\"_blank\">a former Wells Fargo customer requested to have an arbitration decision overturned<\/a> because he felt that he was <em>\u201cimproperly induced\u201d<\/em> into signing a release agreement prior to seeking arbitration.<\/p>\n<p><em>\u201cThis case highlights the way big brokerage firms clean up situations with bad brokers by protecting themselves instead of protecting their customers and advising them of significant misconduct,\u201d<\/em> \u00a0Scott said in an email to AdvisorHub <a href=\"https:\/\/www.silverlaw.com\/blog\/scott-silver-weighs-in-on-investors-request-to-revive-wells-fargo-claim\/#more-11682\" class=\"more-link\">Continue reading \u203a<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Silver Law Group founder and managing partner Scott Silver recently commented on a case in which a former Wells Fargo customer requested to have an arbitration decision overturned because he felt that he was \u201cimproperly induced\u201d into signing a release agreement prior to seeking arbitration. \u201cThis case highlights the way big brokerage firms clean up [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[588,580],"tags":[],"class_list":["post-11682","post","type-post","status-publish","format-standard","hentry","category-finra-arbitration","category-stockbroker-misconduct"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v25.7 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Scott Silver Weighs In On Investor Request To Revive Wells-Fargo Claim<\/title>\n<meta name=\"description\" content=\"Scott Silver recently commented on a case in which a former Wells Fargo customer requested to have an arbitration decision overturned.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" 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