April 2016- Boston
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 FINRA records of David A. Allen disclose 2 final customer disputes:
- FINRA Case 15-02744-A customer of Avenir Financial Group alleged unauthorized trading , non receipt of any trade confirms and statements, forgery and other claims. Damages sought were $225,000. The customer was awarded $250,177 in this case.
- FINRA Case 15-00155- A customer of Avenir Financial Group alleged various causes of action including excessive commissions, breach of fiduciary responsibility, common law fraud, unauthorized trading & churning. Damages sought were $1,000,000. The case was settled 2/2016 for $275,000.
Allen was registered with Avenir Financial Group from 3/2012-1/2016. He is not currently registered.
If you have losses in an account handled by David A. Allen, and believe that your account was mishandled, call to discuss your options.
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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