June 2019, Red Bank, NJ
According to publicly available records Andre Pierre Davis (CRD#1417097) , a stockbroker who is not currently registered and who was last registered with First Standard Financial , disclose 8 settled customer disputes 5 pending customer disputes.
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.
In December 2010, a Newbridge Securities Corporation customer filed FINRA case 10-15704 alleging Davis used high pressure sales tactics, unsuitable transactions, misrepresentation, omission of fact and poor account performance. The case settled for $250,000 with an individual contribution from Davis in the amount of $47,500.
In October 2011, a customer of Newbridge Securities Corporation, filed FINRA case #09-05200 alleging among other things, unauthorized trading, failure to enter stop losses and failure to respond to customer phone calls. The case settled for $63,000 with an individual contribution from Davis in the amount of $25,000.
In May 2019, a customer of First Standard Financial made a claim and is seeking damages of $461,000 and alleges excessive trading, unsuitable investments and unauthorized trading.
In FINRA Case 19-01084, a customer of First Standard Financial is seeking damages of $300,000 and alleges excessive trading and unauthorized trading.
FINRA Case 19-0989 was filed in 4/2019 alleging excessive trading and unsuitable investments. The First Standard Financial customer seeks damages of$328,000.
In February 2019, an Oppenheimer, National Securities Corp & First Standard customer filed FINRA case 19-00431 alleging authorized trading and unsuitability. The alleged damages are $668,000 and the case is still pending.
In July 2018, a First Standard Financial customer filed FINRA case #18-02596 alleging churning and unsuitable trades. The alleged damages are $100,000 and the case is still pending.
Andre Davis was employed by First Standard Financial Company from March 2015 to May 2019. . He was previously employed with National Securities Corp. from June 2012 until March 2015. Before that he was with Brookstone Securities and Newbridge Securities. Davis discloses business affiliations with Davis International Corp. and Davis Capital Group.
If you have questions about an investment account handled by Andre Davis, contact us for a no charge consultation to learn about your legal 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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