9
Sep

RUSS KORY of David Lerner Associates SUSPENDED for Unsuitable Sales

Losses with Patty Dawson of Stifel Nicolaus in Ann Arbor, MI

 Russ Kory, Formerly with David Lerner Associates, Suspended 3 Months

WHITE PLAINS, NEW YORK

 Are you a former or current client of Russ Kory?  Our securities arbitration law firm is looking into allegations made by FINRA (the Financial Industry Regulatory Authority) against Russ Kory, who previously worked in White Plains, New York.  Kory was under investigation by FINRA, which resulted in a three month suspension, a $5,000 fine, and disgorgement of $7,203 in commissions.

FINRA began its investigation into whether Kory violated FINRA Rules 2111 (regarding suitability) and 2010 (high standards of commercial honor).  In particular, FINRA alleged that Kory recommended oil and gas limited partnerships to three customers, even though the oil and gas investments were allegedly not suitable for those customers.  While the oil and gas partnerships are not mentioned, it is believed that they are Energy 11 and Energy 12, proprietary products sold by David Lerner.

From August 2011 to September 2019, Russ Kory had been licensed with David Lerner Associates in a White Plains, New York office.  Kory was also the subject of a customer complaint made in 2021 regarding losses in Energy 11.

Pursuant to FINRA Rule 2111, Russ Kory has a duty to make suitable investment recommendations to customer.  Moreover, David Lerner Associates is a FINRA member and must adequately supervise their advisors to ensure that they comply with FINRA rules, including suitability obligations under FINRA Rule 2111.  If the advisor and/or brokerage firm fail in this regard, they can be responsible for investors’ damages.

Israels & Neuman is a securities arbitration law firm with offices in Denver and Seattle, but we represent investors all over the country.  We have represented over 1,000 investors in the past, including investors who have sued David Lerner Associates.

View Kory, r  BrokerCheck 9.5.22

View Kory, r FINRA AWC

If you lost money with Russ Kory or David Lerner Associates, contact the law firm of ISRAELS & NEUMAN at (720) 599-3505 or (206) 795-5798 for a Free evaluation of your case.