According to Bank Investment Consultant, PNC Investments has challenged an arbitration decision by the Financial Industry Regulatory Authority (FINRA) that ordered the bank to pay a former registered representative $1.8 million for defamation and wrongful termination. The broker, Adrienne Mennemeyer, a specialist with PNC in Wentzville, Missouri, claimed that the firm unjustly ended her employment and made false statements on her Form U-5. She claims this hindered her ability to earn a living in the securities industry and ended her employment with the firm. Last week, PNC filed a complaint in federal court, claiming that it exceeded its authority by disregarding the law. It also claimed that the $1.8 million award was contrary to public policy. PNC claimed that Mennemeyer was terminated for dishonesty and violating bank policy, and that this was reflected on her Form U-5. Mennemeyer claimed that the reason she was fired was because of her boyfriend’s behavior a week before her termination.
According to her online FINRA BrokerCheck report, Mennemeyer was previously registered with Edward Jones in St. Peters, Missouri from December 2009 until January 2012, PNC Investments in Wentzville, Missouri from January 2012 until December 2013, SagePoint Financial in Phoenix, Arizona from October 2015 until November 2015. She is currently not registered within the industry. You may be able to sue PNC Investments if you suffered losses with them. To find out how, please call our securities law firm today at 312-332-4200 in order to speak with an attorney for free. There is no obligation with the call.
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