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Leighton Stallones: San Marcos Rep Has 6-, 7-Figure Complaints
Leighton Stallones (CRD# 433344), a Momentum Independent Network stockbroker in San Marcos, Texas, has been involved in disputes alleging he caused millions in cumulative losses. Financial Industry Regulatory Authority disclosures include a recent pending complaint against Stallones concerning allegations of unsuitable investments.
The pending customer complaint was filed by a customer of Momentum Independent Network in February 2021, according to Leighton Stallones BrokerCheck report. It alleges that he misrepresented facts and made unsuitable recommendations of common and preferred stock. The pending complaint alleges damages of $730,000, plus “under-performance damages,” punitive damages, and other fees.
Leighton Stallones’ BrokerCheck report also lists five customer disputes against him that resulted in settlements with the customer.
A 2013 complaint alleged that as a representative of Hilltop Securities (then known as Southwest Securities), he engaged in fraud, negligent misrepresentation, breach of contract, and breach of fiduciary duty related to a “short-term loan made by Pratt Foreclosures, LLC.” In 2017 the complaint reached a settlement of $765,000.
2010 complaint alleged that Hilltop Securities, then Southwest Securities, provided “false financial information” through Leighton Stallones regarding investments in SSJ Entities. The complaint also alleges fraud, civil conspiracy, aiding and abetting, aiding and abetting violations of the Texas Securities Act, negligence, and misrepresentation. In 2016 the complaint reached a settlement of $3.85 million.
Two earlier complaints involving Leighton Stallones were filed by customers of Everen Securities in 1997. Their allegations included suitability violations, unauthorized trading, fraud, excessive trading, breach of contract, omission of facts, and breach of fiduciary duty. The two complaints settled for a total of more than $55,000.
According to the Financial Industry Regulatory Authority, Leighton Stallones holds 53 years of securities industry experience. He is registered as a broker with Momentum Independent Network’s office in San Marcos, Texas, where he has been registered since 2010. His registration history includes Southwest Securities (Austin, Texas), Riverstone Wealth Management (Austin, Texas), First Union Securities (St. Louis, Missouri), Lovett Underwood Neuhaus & Webb, Boettcher & Company, Rauscher Pierce Refsnes, and EF Hutton & Company. He has passed the Uniform Securities Agent State Law Examination, the Securities Industry Essentials Examination, the National Commodity Futures Examination, the Registered Representative Examination, the Registered Options Principal Examination, the Registered Principal Examination, and the NYSE Branch Manager Examination. He is licensed in California, Colorado, Florida, Louisiana, New Jersey, North Carolina, and Texas. (Information current as of November 15, 2021.)