Publicly available records provided by the Financial Industry Regulatory Authority (FINRA) on August 30, 2016 indicate that Texas-based IMS Securities broker/adviser Christopher Gammon has received several resolved or pending customer complaints. The securities and investment fraud law firm Fitapelli Kurta is interested in speaking to investors who have complaints regarding Mr. Gammon (CRD# 2354523).
Christopher Gammon has spent 21 years in the securities industry and has been registered with IMS Securities in Houston, Texas since 1999. Previous registrations include IMS Securities in Houston, Texas (1994-1999) and Retirement Investment Group in Houston, Texas (1993-1994). He is a registered broker and investment adviser with eighteen US states and territories: Alabama, Alaska, Arizona, Colorado, Florida, Hawaii, Iowa, Kentucky, Michigan, Mississippi, Nebraska, Nevada, New York, North Carolina, Oklahoma, Pennsylvania, Tennessee, and Texas.
According to his BrokerCheck report, Christopher Gammon has received two customer complaints and one pending customer complaint.
In June 2016 a customer alleged Christopher Gammon, while employed at IMS Securities, acted negligently, over-concentrated the account, breached his fiduciary duty, misrepresented material facts, and failed to supervise. The customer is seeking $3,000,000 in damages in the pending complaint.
In 2004 a customer alleged Christopher Gammon, while employed at IMS Securities, breached contract, made unsuitable recommendations, misrepresented and omitted material facts, breached his fiduciary duty, and acted negligently. The complaint settled in 2004 for $275,000.
In 2000 a customer alleged Christopher Gammon, while employed at IMS Securities, did not supervise a representative. The complaint settled in 2001 for $78,000.
Concentration (or “over-concentration”) refers to a broker’s failure to diversify a customer’s portfolio among a variety of assets. Sometimes a broker believes one asset will outperform others, and focuses the investment in that asset or class. In other cases, a broker might invest primarily in a series of related investments; for instance, municipal bonds in the same region. Since similar classes often perform similarly, if one performs poorly, the others might as well. Brokers who fail to diversify their customers’ investments may be subject to disciplinary action by FINRA or the Securities and Exchange Commission.
If you or someone you know has lost money investing with Christopher Gammon, call the securities and investment fraud law firm Fitapelli Kurta at 877-238-4175 for a free consultation. You may be entitled to recoup your losses. We accept all cases on contingency: Fitapelli Kurta only gets paid if and when you collect money. Time to file your claim may be limited, so we recommend you avoid delay. Call 877-238-4175 now to speak to an attorney for free.