August 2021- Syosset, NY
According to publicly available records, Michael Norton, a broker currently employed by David Lerner Associates, Inc., discloses 3 settled customer disputes and 1 pending customer dispute.
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.
Between April of 2016 and May of 2019, 3 FINRA cases were filed by customers of David Lerner Associates alleging unsuitability, misrepresentation and omission in connection with the sale of Puerto Rico bonds and mutual funds. The cases were collectively settled in the amount of $13,500.
In November of 2020, a customer of David Lerner Associates filed FINRA case #20-03737 alleging unsuitability, misrepresentation and breach of fiduciary duty in connection with the purchase of Energy 11 private placement and is seeking damages in the amount of $50,000-$100,000. The case is currently pending.
Norton has been employed with David Lerner Associates since April of 1998.
We have been investigating David Lerner Associates on behalf of investors who suffered losses in Energy 11 LP, Energy Resources 12 and Spirit of America Energy Fund (SOAEX).
If you have losses in an account handled by Michael Norton, call to learn how you may be able to recover damages through FINRA arbitration.
Rex Securities Law , with offices in Boca Raton, FL, and Austin, TX, provides representation to investors nationwide who are seeking recovery of investment losses due to the negligence or fraud of stockbrokers and broker dealers. If you have questions about how your account has been handled, call to speak with an experienced securities attorney.
Most cases handled on a contingent fee basis meaning that you do not pay legal fees unless we are successful.
Florida-561 391 1900