Broker Clifford Reid Allegedly Misrepresented Investments

Soreide Law Group is looking into potential investor disputes against securities broker Clifford Reid [CRD#: 1905920, New York, New York]. Evidently, Financial Industry Regulatory Authority (“FINRA”) BrokerCheck shows that at least 7 clients took issue with the securities broker, who started with Reid Rudiger in 1999. Notably, clients of Reid Rudiger indicate that Reid excessively traded, sold unsuitable investments, and even breached his fiduciary responsibility. Check out this brief summary of complaints about Reid:

Reid Rudiger Investor Suggests That Clifford Reid Misrepresented Investments

Apparently, on November 8, 2019, a Reid Rudiger client filed FINRA Arbitration #: 19-02993 concerning Clifford Reid. Notably, the client contended that Reid falsified important information about the client’s stock holdings. Supposedly, he failed to comply with his fiduciary responsibility and engaged in unsupervised transactions. Therefore, the client asked for $220,542 in compensation from Reid Rudiger or Reid. Supposedly, this arbitration is pending a resolution.

Reid Allegedly Made Unsuitable Trades In Reid Rudiger Client’s Account

Evidently, on October 25, 2019, a Reid Rudiger client filed FINRA Arbitration #: 19-02808 about Clifford Reid. Allegedly, Reid effected unsuitable trades in the client’s account; transactions which were not in line with the client’s investment profile. Not only that, but it appears that the securities broker possibly made excessive and negligent transactions and breached a fiduciary duty too. Because of this, the client experienced losses on stocks and OTC equities. Therefore, the client asked for $86,000 in compensation from Reid Rudiger or the securities broker. Apparently, this arbitration is pending a resolution.

Reid Rudiger Investor Indicates That Clifford Reid Breached A Fiduciary Duty

It appears that a client of Reid Rudiger contested Clifford Reid’s actions by bringing FINRA Arbitration #: 19-02676 on October 25, 2019. Notably, Reid allegedly breached his fiduciary responsibility. Allegedly, he failed to place the client’s interest first. The client suggested that the securities broker made inappropriate trades in the client’s account. Consequently, the client demanded compensation from Reid Rudiger or Reid in the amount of $218,388 in this ongoing matter.

Reid Allegedly Fails To Place Stop Loss In Reid Rudiger Client’s Account

Apparently, on January 19, 2019, a Reid Rudiger client filed FINRA Arbitration #: 15-04303 concerning Clifford Reid. Mainly, the client contended that Reid failed to place a stop loss order according to the client’s instructions. As a result, the client experienced losses on over the counter equities. Therefore, on August 14, 2019, Reid Rudiger settled this client’s dispute by way of paying the client $120,000.

Did Reid Rudiger Securities Broker Clifford Reid Sell You Bad Investments?

Have you experienced losses by investing with Clifford Reid? If so, reach out to Soreide Law Group at (888) 760-6552 and speak with experienced counsel in regard to possibly recovering your investment losses. Soreide Law Group represents clients on a contingency fee basis and will advance all costs. The law firm has recovered millions of dollars for clients who have incurred losses due to misconduct of securities brokers like Reid and brokerage firms.

Lars Soreide Highest Ethical Standard Award 2018

Lars Soreide Highest Ethical Standard Award 2018