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Financial advisor Dana Davis customer complaints

Newbridge Financial Advisor, Dana Davis, Has Eight Customer Complaints, Including Two Pending Complaints

The Wolper Law Firm is currently investigating claims against Dana Davis, a Financial Advisor at Newbridge Securities Corp. in New York, NY. Dana Davis has been in the securities industry since the 1980s and previously worked at First Montauk Securities.

According to publicly available records released by the Financial Industry Regulatory Authority (FINRA), on September 5, 2018, a customer filed a complaint against Dana Davis, alleging “CLAIMANT ALLEGES SALE OF UNSUITABLE SECURITIES, USE OF MARGIN, NEGLIGENCE AND BREACH OF FIDUCIARY DUTY.” The alleged damages are $150,000 and the matter remains pending.

This is not Dana Davis’ first customer complaint. She has been the subject of numerous complaints during his career, alleging sales practice violations. Among the complaints against Davis include:

• January 2018—”CLAIMANT ALLEGES AMONG OTHER THINGS, MISREPRESENTATION, UNSUITABLE AND EXCESSIVE TRADING, NEGLIGENT SUPERVISION AND BREACH OF FIDUCIARY DUTY.” Alleged damages are $299,000 and the matter remains pending.
• October 2007—”CLIENT ALLEGES UNAUTHORIZED TRADING, CHURNING, BREACH OF FIDUCIARY DUTY, FRAUD, MISREPRESENTATION AND NEGLIGENCE IN HIS ACCOUNTS.” The matter was settled for $75,000.
In addition, in 2006, Dana Davis was discharged by First Montauk Securities for
“ALLEGED UNAUTHORIZED TRADING AND FAILURE TO FOLLOW FIRM POLICIES AND PROCEDURES.”

A For a full copy of Dana Davis’ FINRA disclosure report, click https://brokercheck.finra.org/individual/summary/1707708#disclosuresSection

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 Dana Davis and you experienced investment losses, please contact the Wolper Law Firm at 800.931.8452 or by email at mwolper@wolperlawfirm.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 lawyer 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.

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.

https://brokercheck.finra.org/individual/summary/1707708#disclosuresSection

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 mwolper@67.43.6.64 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.

Attorney Matthew Wolper

Attorney Matthew WolperMatt Wolper is a trial lawyer who focuses exclusively on securities litigation and arbitration. Mr. Wolper has handled hundreds of securities matters nationwide before the Financial Industry Regulatory Authority (FINRA), American Arbitration Association (“AAA”), JAMS, and in state and federal court. Mr. Wolper has handled and tried cases involving complex financial products and strategies ranging from traditional stocks and bonds to options, margin and other securities-based lending products, closed/open-end mutual funds, structured products, hedge funds, and penny stocks. [Attorney Bio]