August 2019-Garden City, NY
The FINRA records of Gregory T. Dean , a former broker who was last employed by Worden Capital Management LLC disclose 3 prior regulatory matters, a prior civil matter, 3 pending customer disputes, 11 prior customer disputes and a termination from employment.
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 currently pending customer disputes include:
FINRA Case 19-1580 in which a group of customers of Worden Capital alleges that Dean was negligent, made unsuitable recommendations and other claims. This is a multi-customer, multi broker case involving 11 former customers and 12 Worden brokers. Total damages sought exceed $559,000.
FINRA Case 19-369 in which a customer of Worden Capital alleges that Dean churned and excessively traded their account and made unsuitable recommendations. Damages of more than $70,000 are sought.
FINRA Case 16-2775 in which a customer of Worden Capital alleges that Dean made unsuitable recommendations and traded without authorityt. Damages of $420,847 are sought.
Prior cases settled involving Dean include:
FINRA Case 17-01971 in which a customer of Worden Capital alleged that Dean churned their account, made unsuitable recommendations and was negligent. That case was settled for $60,000.
FINRA Case 17-01497 in which a customer of Worden Capital alleged unsuitable recommendations, over-concentration of investments, fraudulent misrepresentation and other claims. That case was settled for $55,000.
In 1/2017 Dean was named in a civil action filed by the US Securities & Exchange Commission alleging that Dean fraudulently used an in-and-out trading strategy that was unsuitable for customers in order to generate commissions. In 6/2019 Dean was permanently barred from the securities industry and ordered to pay fines and disgorgement in excess of $500,000. Case # 1:17-cv-0139, US District Court, Southern District of New York.
Gregory Dean was employed by Worden Capital Management LLC from 11/2014 until 6/2019 when he was discharged after being barred from the securities industry by the Securities & Exchange Commission. . Prior to that he was employed by J.D. Nicholas & Assoc. 1/2007-11/2014.
If you have losses in an account handled by Gregory Dean, contact us for a no charge consultation to learn how you may be able to recover damages from his former employer..
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, at no cost to you.
Most cases handled on a contingent fee basis meaning that you do not pay legal fees unless we are successful.
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