Alex Padalka
Aug 9, 2022
Eileen Cure is seeking roughly $95 million in damages claiming defamation and loss of income.
A former financial advisor let go by LPL Financial last year after she was accused of racism has sued the company for close to $100 million dollars. Eileen Cure accuses LPL of a battery of complaints including breach of contract, failure to provide required notice about the termination of their relationship, breach of fiduciary duty, publication of false information and tortious interference, according to a suit filed in the U.S. District Court for the Eastern District of Texas, Beaumont Division.
LPL said last August that it was no longer affiliated with Cure following a review of her allegedly discriminatory remarks that a TikTok poster labelled as “racist.”
Denise Bradley had posted a video on TikTok in July that year naming Cure her “Racist of the Day.” In the TikTok post, Bradley showed a Skype message that Cure allegedly sent to her staff after meeting with a Black applicant.
The message stated: “i specifically said no blacks. i’m not a prejudice person, but our clients are 90% white and i need to cater to them. so that interview was a complete waste of my time. [sic.]” In announcing that it broke off its affiliation with Cure, LPL said in a statement that the firm “immediately launched an internal investigation to review the matter and a decision is forthcoming this week regarding Ms. Cure’s relationship with the firm. We will not tolerate discrimination of any kind in our LPL community."
Bradley posted another message from Cure that said: “Something that was taken totally out of context and made available to a society of mob people that are looking for someone to hate. Tomorrow there will be someone else to hate and they will move on … This company has been around for 30 years and my clients will not be leaving us over something this stupid. It will pass.” Related Content In her complaint, Cure claims that after LPL “publicly stated that Plaintiff Eileen Cure was a racist,” she tried to save her business and her reputation and limit damages by attempting to sell her business or placing her book of business with other agencies. She claims LPL blocked both attempts.
Cure also alleges that LPL flagged her Series 7 license, making her unable to register with another firm and thereby making the license invalid, according to the complaint.
Cure and Premier Wealth & Retirement Management, the company she operates, are seeking $10 million in damages for her reputation and $20 million for lost income, the complaint says.
Meanwhile, Cure & Associates — Cure’s accounting business — is seeking damages of $15 million associated with professional defamation and $50 million in lost income, lawyers’ fees and any other relief deemed appropriate by the court.
Eileen had been affiliated with LPL since 2018 and has been in the financial services industry since registering as a broker with Merrill Lynch in 1992, according to BrokerCheck.
Since October last year, Cure has been registered with Wealth Management of Kentucky in Montgomery, Texas, according to the Securities and Exchange Commission’s Investment Advisor Public Disclosure database.
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