On June 17, 2019, John Wyshak, whose 33 years of experience in the securities industry spanned nine firms, became involved in a customer dispute. The allegations are “unauthorized trading, suitability, excessive commissions, violations of industry standards, violation of FINRA Rule 2020, NYSE Rule 405, breach of fiduciary duty, negligent retention, fraud, omission of material facts, conversion, breach of contract, [and] fraudulent concealment.” The claimant is seeking $131,783 in damages. This is one of the ten disclosures on John Wyshak’s BrokerCheck record, accessed on July 31, 2019. His BrokerCheck record also reports that he is not currently affiliated with a firm.
John Wyshak was the subject of a previous blog post, which discusses in more detail his previous disclosures. We previously reported that, on January 29, 2018, John Wyshak became involved in a customer dispute in which a client was seeking $1,023,460 in damages due to concerns abouts “concentration, breach of fiduciary duty, fraud, churning, failure to supervise, omission of material facts, conversion, breach of contract, fraudulent concealment, [and] violations of industry rules and standards.” The dispute has since been settled for $700,000.
As a reminder, John Wyshak has had six tax liens (one in 2008, one in 2009, three in 2012, one in 2013). In 1988, he was terminated from Dean Ritter Reynolds after allegations of excessive trading. In 1999, he settled a customer dispute for $45,000. The dispute also involved excessive trading.
John Wyshak has worked at the following firms:
- Raymond James & Associates, Inc. (CRD #: 705)
- Wedbush Securities Inc. (CRD #: 877)
- Ryan, Beck & Co., LLC. (CRD#: 3248)
- Gruntal & Co., L.L.C. (CRD#: 372)
- Merrill Lynch, Pierce, Fenner & Smith Incorporated (CRD#: 7691)
- Bear, Stearns & Co. Inc. (CRD#: 79)
- Smith Barney Shearson Inc. (CRD#: 7059)
- Lehman Brothers Inc. (CRD#: 7506)
- Dean Witter Reynolds Inc (CRD#: 7556)
If John Wyshak was your broker and you have questions about your investments, don’t hesitate to contact the experienced securities attorneys of Fitapelli Kurta at (877) 238-4175 or email@example.com.