November 2019 – Garden City, NY
The FINRA records of Douglas Lee , a stockbroker who was last employed by Worden Capital Management , disclose a pending customer dispute and 3 prior 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 August 2019 a customer of Lee’s former employer ,Worden Capital Management, was paid $19,999 in FINRA case #19-00369 to resolve allegations that Lee charged excessive commission, churned the account and made unsuitable transactions.
In May 2017, a customer of Worden Capital Management, was paid $12,500 in FINRA case #17-01266 to resolve allegations of fraud, negligent misrepresentation, breach of fiduciary duty and breach of covenants of good faith .
In July 2013 a customer of J.D. Nicholas & Associates, Inc. settled a claim alleging unsuitable option investments and was paid $25,000.
In pending FINRA case #14-03697 a customer of J.D. Nicholas & Associate alleges churning, negligence, unsuitability, over concentration and failure to supervise and is seeking damages of $57,130.
Lee was employed by Worden Capital Management from November 2014 until June of 2015 and with J.D. Nicholas & Associates, Inc. from September 2009 until November 2014.
If you have questions about an account handled by Douglas Lee call for a no charge consultation to learn more 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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