Jervis B. Hough—Failure to Ensure Adequate Due Diligence

California stockbroker fraud attorneyJervis B. Hough Allegedly Failed to Ensure that First American Securities Conducted Adequate Due Diligence with Regards to a Corporate Offering

Jervis B. Hough allegedly failed to ensure that First American Securities conducted adequate due diligence with regards to a corporate private placement offering, according to a recent FINRA Letter of Acceptance, Waiver and Consent (AWC) currently under review by Peiffer Rosca Wolf attorneys Alan Rosca and James Booker.

Hough also allegedly failed to document the aforementioned due diligence he conducted, and also purportedly failed to enforce First American’s Written Supervisory Procedures (WSP’s) relating thereto, said Complaint reports.

The Peiffer Rosca Wolf securities lawyers are currently investigating Jervis B. Hough’s alleged failure to ensure that First American Securities conducted adequate due diligence.

Jervis B. Hough Suspended and Fined $5,000 by FINRA; First American Securities Allegedly Entered into a Placement Agreement for the Sale of Securities Offered in a Private Placement Named PGC

Jervis B. Hough’s failure to conduct due diligence for First American involved a placement agreement for the sale of securities offered in a private placement by a corporation called “PGC”, according to the aforementioned AWC currently under review by attorneys Alan Rosca and James Booker.

PGC was allegedly a new company with no prior operations whose business plan was to lend money to third-party entities that would purchase, rehab, and resell distressed real estate in Michigan, and raised $3.25 million, the AWC also notes.

As a result of the aforementioned behavior, Jervis B. Hough allegedly violated NASD and FINRA Rules, and hence, has been suspended and fined $5,000 by FINRA, the AWC reports. One should also note that, according to the AWC, Jervis B. Hough 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 alleged failure to conduct due diligence and are currently investigating Jervis B. Hough’s failure to conduct due diligence.  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 Jervis B. Hough’s failure to conduct due diligence 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.

Alan Rosca (1157 Posts)

Alan is a securities lawyer. He also teaches Securities Regulation at the Cleveland-Marshall College of Law. He focuses his legal practice on complex commercial and financial litigation and arbitration, particularly in the areas of securities and investment fraud. His office is in Cleveland, Ohio.


In our legal system, every person is innocent until and unless found guilty by a court of law or a tribunal. Whenever we reference “allegations” or charges that are “alleged,” such allegations or charges have not been proven, and are merely accusations, not findings of fault, as of the date of the blog. We do not have, nor do we undertake, a duty to continue to monitor or follow cases about which we report, and/or to publish subsequent blogs regarding various developments that may occur in such cases. Readers are encouraged to conduct their own research regarding any such cases and any developments that may or may not have occurred in such cases.