The brokerage industry reports any customer complaints made against or involving a broker on their publicly available Brokercheck Report. These reports are essential for transparency in the financial industry.
The Securities Lawyers at Halling & Cayo, S.C. are currently investigating potential claims on behalf of investors. If you suffered losses related to securities recommended by this individual, we are interested in discussing your options.
Claim(s) Made Against Michael Edwin Magruder:
Claim Date: 3/4/2026
“Client alleges FA borrowed money from client and failed to repay it.”
This claim, as of this posting, is currently Pending with a claim amount of $600,000.00 .
As of 7/26/2026, this claim status is Settled.
Claim Date: 5/28/2025
“Michael Magruder was named in a customer complaint that asserted the following causes of action: breach of fiduciary duty; negligence and negligent misrepresentation; negligence – breach of regulatory requirements; breach of contract; and failure to supervise. The causes of action relate to Magruder allegedly inducing Claimant to loan him $150,000.00, via a Promissory Note, from funds withdrawn from Claimant‘s individual retirement account, which Magruder did not repay, as well as a tax penalty Claimant incurred from the withdrawal”
This claim, as of this posting, is currently Award / Judgment with a claim amount of $150,000.00 .
