MICHAEL LEE EASTBURN is currently employed as a Broker and/or Investment Adviser at WELLS FARGO CLEARING SERVICES, LLC located at 2 INTERNATIONAL PL FL 20, BOSTON, MA, 02110.
MICHAEL LEE EASTBURN has worked at WELLS FARGO CLEARING SERVICES, LLC since July 01, 2003
Disclosure History
MICHAEL LEE EASTBURN has 2 Disclosure Event(s).
Date: February 11, 2002 Category: Customer Dispute Allegations: CUSTOMER'S ALLEGE THAT FROM THE FIRST QUARTER OF 2000 TO THE PRESENT, PSI BROKER MICHAEL EASTBURN TRADED THEIR ACCOUNTS EXCESSIVELY, INVESTED IN UNSUITABLE SECURITIES, AND MISREPRESENTED THE SUITABILITY OF THE SECURITIES TO CUSTOMERS. Damage Amount Requested: $285,000.00 Settlement Amount: $70,000.00
Date: November 12, 1998 Category: Customer Dispute Allegations: CLIENT CLAIMS LOSSES IN CONNECTION WITH "MREASTBURN'S RECOMMENDATION" OF CRIIMI MAE STOCK AT PSI. CLIENTSTATES THAT HE TOLD MR. EASTBURN THAT HE WAS AN EXTREMELYCONSERVATIVE INVESTOR AND ALLEGED THAT THE INVESTMENT IN CRIIMIMAE WAS OF A "SPECULATIVE NATURE". DAMAGES APPEAR TO BE INEXCESS OF $5,000.00. Broker Comment: PSI DENIED THE CLAIM.I ABSOLUTELY DISAGREE WITH THIS CLAIM. IT WAS MYSTRONG BELIEF THAT CRIMI MAE WAS A SUITABLE INVESTMENT GIVENTHE CLIENTS INVESTMENT OBJECTIVE, RISK PARAMETERS, AND OTHERGROWTH INVESTMENTS IN HIS PORTFOLIO. THIS SPECIFIC INVESTMENTWAS A BUY RECOMMENDATION OF PRUDENTIAL SECURITIES EQUITYRESEARCH DEPT.
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