Last Updated: April 2025 (Utica, NY)
David Griffith Investigation Summary
Here’s what you need to know about Utica, NY, stockbroker David Griffith:
- Name: Mr. David Kristopher Griffith
- Current Employer: LIfemark Securities Corp.
- DBA: David Griffith & & Company
- Previous Firms: Leigh Baldwin & Co., IBN Financial, M. Griffith Locke Investment Services
- Function: Stock Broker/ Financial Advisor
- Aliases: David Griffith
- Primary Location: Utica, NY
- CRD 3072664
- Can David Griffith be sued in FINRA arbitration: Yes
- Sanctioned by FINRA: No
- Four Pending Customer Disputes Seek Cumulative Damages of $705,000
Discuss your case with experienced investment fraud lawyer Bob Rex at (877) 224-3199 for a free consultation.
Did You Lose Money With David Griffith As Your Stockbroker?
IN 2024 three customers of Lifemark Securities filed arbitrations alleging that Griffith recommended an investment in an alternative product that filed Chapter 11 bankruptcy. The customers allege failure to perform due diligence, material misrepresentation and unsuitability. Damages of $200,000 (including punitive damages). , $200,000 and $100,001 are sought in these currently pending matters.
In 2023 a customer of Lifemark Securities filed a FINRA arbitration alleging that David Griffith sold them an alternative investment between 2/2020-3/2021. The company issuing the investment has filed Chapter 11 bankruptcy causing damages of $150,000. This matter is also currently pending.
Firms Have a Duty to Supervise their Financial Advisors (FINRA Rules 3110 & 2090)
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Brokers and their firms have a duty to comply with the FINRA suitability rule which requires that they have a reasonable basis to believe that a recommendation is suitable for the customer. FINRA Rule 2111- suitability
Allegations of Broker Misconduct Against David Griffith
Customers of David Griffith have alleged the following wrongdoing in connection with the handling of customer accounts:
- Unsuitable Investment Recommendation to purchase alternative investment
Alternative Investments: These are assets that are not stocks, bonds or cash. Alternative investments generally fall within five categories: hedge funds, private capital, natural resources (oil and gas, energy), real estate (REITs) and infrastructure. They are typically less liquid that conventional investments, less regulated with higher fees and generally higher risk.
The Financial Industry Regulatory Authority (FINRA) is the agency that licenses and regulates stockbrokers and brokerage firms. FINRA requires brokers and brokerage firms to report customer complaints and disputes as well as regulatory sanctions. In addition brokers are required to disclose certain financial matters such as personal bankruptcies, judgments and liens.
Recover Your Investment Losses Now With Rex Securities Law
If you have suffered investment losses in an account handled by David Griffith, contact us for a complimentary consultation with an experienced securities lawyer to learn how you may be able to recover damages through FINRA arbitration.
With offices in Boca Raton, FL and Austin, TX, stockbroker fraud attorney Bob Rex provides representation to investors nationwide who are seeking recovery of investment losses due to the negligence or fraud of stockbrokers, financial advisors and broker dealers.
If you have questions about how your account has been handled, call (877) 224-3199 to speak with an experienced securities attorney at no cost to you.
Most cases are handled on a contingent fee basis meaning that you do not pay legal fees unless we are successful.