Pursuing Claims Against Theresa Allen of RBC Capital for Unsuitable First Republic Sales

Attorney Advising Disclaimer

After several customers accused broker Theresa Allen of RBC Capital Markets in Newport Beach, CA and formerly of First Republic Investment Management of unsuitable recommendations and unauthorized actions on First Republic Bank preferred security shares, The Law Offices of Jonathan W. Evans & Associates will pursue damages against Allen, alleging that misconduct at First Republic Bank resulted in over $1 million in losses.

We are representing retirees who were clients of Theresa Allen (CRD #2183693), who also went by the names Theresa Binkley and Theresa Givens, and are investigating further claims of misconduct for suitability and Reg BI violations relating to the First Republic Bank preferred shares sales.

First Republic Bank failed in early 2023, but was quickly acquired by JP Morgan Chase. First Republic Bank's shares dropped dramatically in value due to the volatility, ultimately resulting in several trade halts.

Shortly before First Republic's outright collapse, RBC announced that former First Republic broker and investment adviser Theresa Allen was joining its Newport Beach, California, branch.

According to BrokerCheck, Allen purportedly recommended unsuitable investments in the First Republic Bank preferred stock, dating back to shares originally purchased in 2018. Allen stands accused of "unauthorized actions" that allegedly occurred in July 2023 related to the First Bank preferred stock, which is now a near-total loss. At its peak First Republic Bank (FRCB), for instance, traded at over $200 per share. It currently trades over-the-counter at less than one penny-per-share.

If you invested with Theresa Allen at RBC Capital or while she was affiliated with First Republic Investment Management, and suffered investment losses due to unsuitable recommendations of First Republic Bank stock or unauthorized actions, please call an experienced FINRA arbitration attorney at The Law Offices of Jonathan W. Evans & Associates at (800) 699-1881 for an investigation and consultation.

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