January 2020 – 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 8/2019 a customer of Lee’s former employer ,Worden Capital Management, was paid $19,999 to resolve allegations that Lee charged excessive commission, churned the account and made unsuitable transactions. FINRA case #19-00369
In 5/ 2017, a customer of Worden Capital Management, was paid $12,500 in to resolve allegations of fraud, negligent misrepresentation, breach of fiduciary duty and breach of covenants of good faith . FINRA case #17-01266.
In July 2013 a customer of J.D. Nicholas & Associates, Inc. settled a claim alleging that Lee made 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 11/2014 until 6/2015 and with J.D. Nicholas & Associates, Inc. from 9/2009 until 11/2014.
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 o