Advisor Alert: Our Attorneys Are Investigating Adam Petersen Summers For Investment Fraud
Did You Lose Money Because of Adam Summers?
Filed: February 9, 2024
Adam Summers currently has one (1) pending customer complaint. Overall, he has been the subject of one (1) regulatory event, two (2) termination events, and two (2) customer complaints. As an investor, you may be entitled to compensation for losses accrued due to mismanagement of your investments.
Let’s begin our Patil Law Advisor Alert with a summary report on Adam Petersen Summers.
Who Is Adam Petersen Summers?
- Advisor Name: Adam Petersen Summers
- Aliases: Adam Summers
- CRD: 5587343
- Location: Frankfort, Illinois
- Current Employer: Currently Not Registered
- Previous Firms: Lasalle St Securities, L.L.C., Wells Fargo Clearing Services, LLC, and Stifel, Nicolaus & Company, Incorporated
- Number of Known Customer Complaints: 2
- Number of Known Regulatory Events: 1
- Number of Known Termination Events: 2
- Can Adam Summers Be Sued: Yes, in Private Arbitration
- Can Adam Summers’s Employers Be Sued For Failing to Supervise Actions: Yes, in Private Arbitration
- Highest Damages Allegation: Unknown
- Highest Settlement: $50,000
If you have suffered investment losses by Adam Summers, we strongly encourage you to exercise your rights to experienced legal representation. Recover what is owed to you by retaining a churning lawyer. Reach out to the legal team at Patil Law, P.C. via the secure online form or call the firm directly toll-free at 1-800-950-6553.
Customer Complaints Filed Against Adam Summers For Broker Misconduct
As of this publication date, Adam Summers has been the subject of 1 regulatory event, 2 termination events, and 2 customer disputes. Let’s review them below.
In April 2022, FINRA initiated a regulatory action against or in reference to Adam Summers for allegedly engaging in forgery by signing the name of his supervisor on new account forms without permission.
In December 2020, a FINRA arbitration was filed against or in reference to Adam Summers by a customer of Wells Fargo Clearing Services, LLC alleging that around 2009, Mr. Summers recommended unsuitable investments in an E*TRADE account. On May 4, 2022, Mr. Summers settled the claim for $50,000, and some or all of this amount may have been paid by Mr. Summers’s employer and/or insurance carrier.
In December 2020, a complaint was filed against or in reference to Adam Summers by a customer of Wells Fargo Clearing Services, LLC alleging that around 2009, Mr. Summers recommended unsuitable investments in an E*TRADE account. As of this publication date, this claim remains pending.
In December 2020, Adam Summers voluntarily resigned from Wells Fargo Clearing Services, LLC, not knowing he was under investigation. At the time of resignation, the employee was under review related to a third party allegation that he was named as the beneficiary of a deceased customer’s insurance policy. Employee also under review for separate allegation contained within arbitration claim that he and or another FA traded in customer account, held outside the Firm.
In December 2020, Stifel, Nicolaus & Company, Incorporated terminated Adam Summers for failure to timely disclose an arbitration.
How To File A Claim Against Adam Summers (previously with Lasalle St Securities, L.L.C., Wells Fargo Clearing Services, LLC, and Stifel, Nicolaus & Company, Incorporated) To Get Your Money Back
If you have questions about Adam Summers, Lasalle St Securities, L.L.C., Wells Fargo Clearing Services, LLC, Stifel, Nicolaus & Company, Incorporated, or the management or performance of your accounts, please contact Attorney Patil for a free initial consultation via email or toll-free at 1-800-950-6553.