August 2019 Update-Gregory Dean was barred from the securities industry for churning customer accounts. See this for more details.
MAY 2018 UPDATE–See this for update on pending customer disputes.
ORIGINAL POST –January 2017-Syosset, NY
The U.S. Securities and Exchange Commission filed a complaint against two former J.D. Nicholas brokers alleging that they failed to perform adequate due diligence relating to the risks and rewards of frequent trading strategy in 27 customer accounts which earned over $800,000 in commissions. SEC v. Gregory T. Dean and Donald J. Fowler, Case 1:17-cv-00139.
According to the Complaint, both Dean and Fowler have disciplinary histories. Nine of Dean’s customers filed FINRA arbitrations or complaints against him. Ten of Fowler’s customers filed arbitrations or complaints against him.
In currently pending FINRA case # 16-2775, a customer of Worden Capital is seeking damages of over $420,000 and alleges that Dean made unsuitable recommendations, over concentrated the account and made unauthorized trades.
J.D. Nicholas (formerly A&F Financial Services) was incorporated in Florida in 1997 and maintained its offices in Syosset, NY.
Dean and Fowler are currently registered with Worden Capital Management.
If you have questions about your account and the way it has been handled, call to discuss your options with an experienced securities attorney.
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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