Jeffrey Johnson — Alleged Outside Business Activity
Jeffrey M. Johnson Allegedly Failed to Notify Morgan Stanley, His Member Firm, of an Outside Business Activity and Purportedly Participated in Private Securities without Receiving Approval from the Firm
Jeffrey Johnson allegedly failed to notify his member firm of an outside business activity and purportedly participated in private securities without receiving approval from the firm, according to a recent Letter of Acceptance, Waiver, and Consent (AWC) presently being reviewed by attorneys Alan Rosca and James Booker.
Investors who believe they may have lost money in activity related to Jeffrey Johnson‘s alleged outside business activities are encouraged to contact attorneys Alan Rosca or James Booker with any useful information or for a free, no obligation discussion about their options.
The Peiffer Rosca Wolf securities lawyers are currently investigating Jeffrey Johnson’s alleged outside business activities.
Jeffrey Johnson, in December of 2013, allegedly made a partnership with a customer and a friend to pursue a business venture which was designed to purportedly monetize a fantasy sports game, according to the aforementioned AWC.
Two business entities were founded and Johnson allegedly took part in both entities as an owner and manager in addition to performing management activities such as writing checks and doing business promotions, the AWC notes. Johnson also allegedly participated in raising $310,000 in both equity and debt financing for the business, the AWC reports.
Furthermore, Johnson also allegedly only gave notifications to Morgan Stanley of one of the two companies, and his statements of disclosure purportedly omitted that he was a manager and owner of the business, the AWC states. Johnson also allegedly was never given approval to conduct private securities transaction, the AWC notes.
Jeffrey Johnson Suspended and Fined $10,000 by FINRA
Jeffrey Johnson, based on the aforementioned behavior, allegedly violated FINRA Rules, and therefore has been suspended and fined $10,000 by FINRA, according to the aforementioned AWC currently being reviewed by attorneys Alan Rosca and James Booker.
Johnson and a friend (known only as CK), on December 11, 2013, allegedly incorporated a Michigan for-profit company called Teaser Fever as part of a business venture to monetize a fantasy sports game, the AWC reports.
What is more, CK was also allegedly a customer of Johnson’s at Morgan Stanley, and Teaser Fever was allegedly formed to hold the intellectual property they wanted to eventually flip into a web site and application for smartphones, the AWC reports.
Johnson and CK were each allegedly officers and 50% owners of Teaser Fever, respectively, the AWC notes.
Finally, one should also note that, according to the AWC, Jeffrey M. Johnson neither admitted nor denied the FINRA findings.
Securities Lawyers Investigating
The Peiffer Rosca Wolf securities lawyers often represent investors who lose money as a result of investment-related fraud or misconduct and are currently investigating Jeffrey Johnson‘s alleged outside business activities. They take most cases of this type on a contingency fee basis and advance the case costs, and only get paid for their fees and costs out of money they recover for their clients.
Investors who believe they lost money as a result of Jeffrey Johnson‘s alleged outside business activities may contact the securities lawyers at Peiffer Rosca Wolf, Alan Rosca or James Booker, for a free no-obligation evaluation of their recovery options, at 888-998-0520 or via e-mail at email@example.com or firstname.lastname@example.org.