Investors potentially incurred losses because of securities broker David Omori Bibo (also known as Dave Bibo) [CRD: 2602436, San Jose, California], based on public information on Financial Industry Regulatory Authority (FINRA) BrokerCheck. David Bibo worked for Western International Securities Inc. from May 22, 1997, to July 1, 2022. Investors should keep reading to find out more about disclosures involving this broker.
Specifically, a Western International Securities Inc. client filed FINRA Arbitration No. 20-02893 concerning David Bibo. Primarily, the client alleged that Bibo made misrepresentations and made unsuitable recommendations. Because of this, the client allegedly incurred damages related to real estate investment trusts. Therefore, on March 14, 2023, Western International Securities Inc. settled this matter by paying the client $7,500 in damages.
Notably, on December 18, 2019, a Western International Securities Inc. client brought FINRA Arbitration No. 19-03619 about David Bibo. Mainly, the client alleged that Bibo made unsuitable recommendations. For this reason, the client allegedly sustained damages linked to real estate investment trusts. As a result, Western International Securities Inc. opted to settle the matter on August 24, 2023, by compensating the client in the amount of $320,000.
Particularly, a client of Western International Securities Inc. contested Bibo’s sales practices by filing a written client complaint. Allegedly, Bibo recommended direct investments that the client later questioned as unreasonable. It appears that Bibo caused the client to sustain alleged damages associated with direct investments. Consequently, the complaint was denied on May 29, 2019, with no compensation paid to the client.
Did you experience losses because of David Bibo? Contact Soreide Law Group at (888) 760-6552 or online and consult with a securities lawyer regarding a potential recovery of your investment losses. Soreide Law Group has recovered losses for investors throughout the US. Also, the firm takes cases on a contingency fee basis and advances all costs. Bibo and brokerage firms Bibo worked for deny accusations of sales practice violations.
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