Coyne was being investigated by FINRA following allegations of misconduct.
The Sonn Law Group is investigating allegations that Gerald Coyne committed misconduct. If you or a family member has suffered losses investing, we want to discuss your case. Please contact us today for a free review of your case.
Gerald Coyne (CRD#: 4589061) consented to findings by FINRA stating that he refused to appear for FINRA on-the-record testimony requested in connection with its investigation into whether Coyne made misrepresentations, omissions, and unsuitable recommendations of variable annuities to customers using their rollover funds from their state retirement accounts.
The findings stated that FINRA began investigating after reviewing Coyne’s member firm Form U5 filing disclosing that the firm had terminated his registration based upon client service issues and violations of firm policy.
Coyne was the subject of a customer complaint in February 2019. The allegations state, “Attorney representing four clients alleges that the former CFS representative misrepresented material features and return potential for variable annuities purchased during years 2013-2017.
The attorney and clients are seeking unspecified damages for surrender costs and market losses that would result from the premature surrender of the variable annuities. –Updated to include names of four new claimants with same allegations against former CFS representative in an updated letter received on February 4, 2019, from the same attorney representing the listed clients. **As an accommodation to avoid protracted legal expenses, CFS settled with the clients. CFS found no merit to the allegations against the firm.” The matter was settled for $164,000.
Contact Us Today
The Sonn Law Group is currently investigating allegations that brokers recommended unsuitable investments. We represent investors in claims against negligent brokers and brokerage firms. If you or your loved one experienced investment losses, we are here to help. For a free consultation, please call us now at 866-827-3202 or complete our contact form.