Newbridge Securities Corp. Financial Advisor, Dana Davis, Has 7 Customer Complaints, Including One Pending Complaint Alleging Fraud And Breach Of Fiduciary Duty
The Wolper Law Firm is currently investigating claims against Dana Davis, a Financial Advisor at Newbridge Securities Corp. in New York, NY. Dana Davis first entered the securities industry in the 1990s and previously worked for First Montauk Securities, Global Capital Securities and Gilford Securities.
According to publicly available records released by the Financial Industry Regulatory Authority (FINRA), Dana Davis has seven (7) customer complaints against her, including one pending complaint. This is an exceedingly high number of customer complaints against a single Financial Advisor.
Among the customer complaints against Dana Davis include the following:
- January 2018—“Claimant alleges among other things, misrepresentation, unsuitable and excessive trading…” Alleged damages are $250,000 and the matter remains pending.
- October 2007—“Client alleges unauthorized trading, churning, breach of fiduciary duty, fraud, misrepresentation…” The matter was settled for $75,000.
In addition, in 2002-2003, Dana Davis was the subject of three customer complaints, alleging excessive and unauthorized trading and was subsequently discharged by his employer, First Montauk Securities, for similar conduct.
Financial advisors have a legal and regulatory obligation to recommend only suitable investments that are appropriate for their clients’ needs and objectives. Their employing brokerage firm has a legal and regulatory obligation to supervise the Financial Advisors’ sales practices and dealings with clients. To the extent any of these duties are breached, the customer may be entitled to a recovery of his or her investment losses.
If you or someone you know was a customer of Samuel Rankin and you experienced investment losses, please contact the Wolper Law Firm at 800.931.8452 or by email at email@example.com to discuss your specific situation and the legal options available. The Wolper Law Firm represents investors nationwide in securities litigation and arbitration.
Matt Wolper, the Managing Principal of the Wolper Law Firm, is a trial lawyers who has handled hundreds of securities cases during his career involving a wide range of products, strategies and securities. Prior to representing investors, he was a partner with a national law firm, where he represented some of the largest banks and brokerage firms in the world in securities matters. Simply put, he knows how the other side evaluates cases, which gives you a competitive advantage.