Brent Lemons Lawsuit
$1.3 million settlement in securities fraud lawsuit.
Stockbroker Brent Lemons to pay $1.3 million settlement in securities fraud lawsuit.Tyler, TX: (May-28-08) Tammy and Cindy Mays, an East TX couple, brought charges against Brent Lemons, a former stockbroker for A.G. Edwards and Sons, Inc., alleging that he misappropriated their money, using it for his own personal benefit. The suit was arbitrated by the Financial Industry Regulatory Authority, who found that Lemons had dealt fraudulently with the Mays. They also accused him of breaching his fiduciary responsibilities to them and violating security fraud laws. The suit stated that Lemons had invested the Mays' money in risky investments without any knowledge from the Mays. As part of a settlement reached in the case, the panel of arbitrators awarded Tammy and Cindy Mays $1.3 million dollars, resolving the lawsuit. Records show that Lemons also worked at the Bank of America in Tyler, TX.
Brent Lemons in the News[KLTV NEWS: Brent Lemons]
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