VERLENE MERL CLAIBORN is currently employed as a Broker and/or Investment Adviser at PROEQUITIES, INC. located at 161 5TH AVE S,, SUITE 201, TWIN FALLS, ID, 83301.
VERLENE MERL CLAIBORN has worked at PROEQUITIES, INC. since June 30, 2004
Disclosure History
VERLENE MERL CLAIBORN has 1 Disclosure Event(s).
Date: April 30, 2015 Category: Customer Dispute Allegations: CLAIMANTS ALLEGE THAT BETWEEN MID-2007 TO EARLY-2009 AND AFTER THAT THE RESPONDENT ADVISED THEM TO INVEST MONIES INILLIQUID, HIGH RISK, HIGH COMMISSION INVESTMENT PRODUCTS AND THAT THOSE INVESTMENTS WERE UNSUITABLE FOR THEIR NEEDS DUE TO THEIR INVESTMENT EXPERIENCE AND RISK TOLERANCE. IN ADDITION, CLAIMANTS ALLEGATIONS INCLUDE BUT ARE NOT LIMITED TO A LACK OF PROPER PRODUCT DUE DILIGENCE, MISREPRESENTATION, AND BREACH OF FIDUCIARY DUTY. Damage Amount Requested: $706,504.50 Settlement Amount: $225,000.00 Broker Comment: During a private mediation on May 25, 2016, ProEquities and customers reached a full and final settlement of claims set forth in FINRA arbitration # 15-00638. The settlement amount was $225,000. The Firm neither admitted nor denied the claims, but settled the matter rather than proceed with the further inherent uncertainty and costs associated with continued litigation.
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