Written by The White Law Group• October 21, 2019• 5:52 pm• Blog, Broker Investigations

Dennis Mehringer Jr. Broker Investigation

Financial Advisor Dennis Mehringer Jr., Western International Securities in Pasadena, CA

Are you concerned about investments with Dennis Mehringer Jr. in Pasadena, CA? If so, the securities attorneys at The White Law Group may be able to help you by filing a FINRA Dispute Resolution claim.

According public disclosures on the Financial Industry Regulatory Authority’s website on October 18, financial advisor Dennis Mehringer Jr. was reportedly barred from working in the securities industry after he allegedly failed to provide testimony in FINRA’s investigation into whether he “had engaged in unsuitable trading and other misconduct during the period from January 2017 through May 2018.”

In FINRA’s original complaint, filed in December 2016, the regulator alleged that Mehringer made unsuitable recommendations that caused a customer to purportedly engage in excessively expensive short-term trading of mutual fund Class A shares. According to FINRA’s findings, Mehringer allegedly repeatedly recommended, and caused the customer to engage in, short-term purchases and sales of 84 mutual fund Class A positions in five of the customer’s accounts.

FINRA alleged that in 47 of the 84 purchase transactions, the customer purportedly paid front-end sales loads ranging from four to five percent and that all but 17 of these 84 mutual fund positions were purportedly held for less than six months while 35 of them were reportedly held for less than three months. FINRA found that Mehringer purportedly received $169,735 in commissions from the transactions and that the trades were allegedly unsuitable based on the customer’s investment objectives.

According to his FINRA BrokerCheck report, Mehringer reportedly affiliated with Western International Securities in Pasadena, CA from 2009 until 2018. His broker record indicates 11 customer complaints have allegedly been filed against him since 2006. Allegations include unsuitable investments, misrepresentation, fraud, and unauthorized trading, among others.

Investigating Potential Lawsuits

The White Law Group is investigating potential lawsuits regarding the liability that Mehringer’s employers may have for failure to properly supervise him.

When brokers violate securities laws, such as making unsuitable investments, the brokerage firm they are working with may be liable for investment losses through FINRA Arbitration.

Brokerage firms that fail to monitor the business activities of their employees may be liable for investment losses due to negligent supervision for the misconduct of their employees.

The White Law Group is a national securities fraud, securities arbitration, and investor protection law firm with offices in Chicago, Illinois and Franklin, Tennessee. We represent investors in FINRA arbitration claims in all 50 states, including California. Our attorneys have recovered millions of dollars from many brokerage firms in the past.