According to FINRA records, Ralph (Brud) Worthington IV, a broker who formerly worked for Gilford Securities , discloses 7 customer disputes, 6 of which have been finalized and one of which is pending. Worthington has been the subject of three regulatory events.
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.
The prior customer disputes include:
- NASD Case 94-1769 in which a customer alleged reckless and callous disregard, failed to perform supervision of accounts. Damages were alleged to be $431,000. The arbitration panel found Worthington and GIlford Securities jointly and severally liable to the customer for $175,000.
- NASD Case 96-2212 in which a customer alleged damages of $3.8 million for misrepresentation, negligence, breach of fiduciary duty. The case was settled for $950,000.
In the pending matter, FINRA Case 14-2418, a customer alleges damages of $875,000 based upon control person liability for the alleged wrongful acts of one of the firm’s brokers.
Worthington was registered with Gilford Securities from 1/1980-11/2015. He is not currently registered.
If you have losses in an account handled by Ralph (Brud) Worthington IV , 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.
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