J.P. Morgan Ordered To Pay $1.4 Million To Advisor In Defamation Case

Posted on February 22nd, 2022 at 12:51 PM
J.P. Morgan Ordered To Pay $1.4 Million To Advisor In Defamation Case

From the Desk of Jim Eccleston at Eccleston Law:

A Financial Industry Regulatory Authority (FINRA) arbitration panel has ordered J.P. Morgan to pay $1.4 million to a former advisor who alleged defamation following his termination nearly five years ago.


The former J.P. Morgan advisor, Dustin Luckett, alleged that the firm filed a defamatory Uniform Termination Notice (Form U5) after he was fired in 2017. According to the award, Luckett alleged invasion of privacy as well as tortious interference with prospective business expectancies. While firms are required to submit registration records upon an advisor’s employment termination, many in the industry contend that firms take advantage of the filing system to harm an advisor’s reputation and seize his/her client accounts.


Luckett was terminated after allegedly asking another employee to notarize a document without the client being present, according to BrokerCheck. J.P. Morgan also alleged that Luckett “engaged in conduct it deemed inconsistent with its anti-retaliation policies.”


The FINRA arbitration panel awarded damages and additionally recommended that J.P. Morgan expunge (revise) the terms of Luckett’s employment history to illustrate that the dispute was solely over the clerical process of notarizing.
Eccleston Law LLC represents investors and financial advisors nationwide in securities, employment, regulatory and disciplinary matters.

 
 

Tags: eccleston, eccleston law, JP Morgan, finra

Return to Archive

TESTIMONIALS

Previous
Next

If the regulators are after you, and are trying to make a case against you, and you are going to contest their allegations against you, make sure you have the best securities industry defense lawyers, Eccleston Law Firm. My case was spun into a combination of penalties including fines, cash settlements, CE courses and suspension. They were the best I have seen in action. When all was said and done, they had done their magic, my situation was negotiated and settled with a simple "letter of caution" and a case closed without action. It is the most important legal business decision you will ever make, make it Eccleston Law.

Rick R.

LATEST NEWS AND ARTICLES

October 7, 2025
Tricolor Bankruptcy Sparks DOJ Probe and Distress in Subprime Auto Loan Market

Tricolor Holdings, a subprime auto lender that combined used-car sales with high-interest financing for borrowers with limited or no credit history, has collapsed into bankruptcy amid a federal investigation into alleged fraud.

October 6, 2025
Judge Allows Widow's $8 Million FINRA Arbitration Claim Against JPMorgan to Proceed

JPMorgan Chase & Co. failed in its effort to block an 85-year-old widow from pursuing claims in FINRA arbitration over allegations that the bank failed to prevent her son from siphoning more than $8 million from her accounts.

October 3, 2025
SEC Charges Pennsylvania Man in $400 Million Ponzi Scheme

The Securities and Exchange Commission (SEC) has charged Daryl F. Heller of Pennsylvania, along with his companies Prestige Investment Group, LLC, and Paramount Management Group, LLC, for operating a Ponzi scheme that caused investor losses of roughly $400 million.