Former Oppenheimer Broker, DAVID HOBSON, Barred by the SEC

DAVID PAUL HOBSON (DAVID HOBSON) CRD#: 2448412
was barred by the SEC from acting as a broker or investment advisor or otherwise associating with firms that sell securities or provide investment advice to the public.  DAVID HOBSON was also barred from participating in any offering of a penny stock, including: acting as a promoter, finder, consultant, agent or other person who engages in activities with a broker, dealer or issuer for purposes of the issuance or trading in any penny stock, or inducing or attempting to induce the purchase or sale of any penny stock.
On October 25, 2016, DAVID HOBSON pled guilty to one count of conspiracy to commit securities fraud, and one count of securities fraud, before the United States District Court for the Southern District of New York.
The counts of the criminal indictment to which Hobson pled guilty alleged that DAVID HOBSON conspired to commit insider trading in the securities of Medivation, Inc., Ardea Biosciences, Inc., and Furiex Pharmaceuticals, Inc. and committed insider trading in the securities of Furiex. Hobson was also ordered to pay $311,168.40 in disgorgement of ill-gotten gains and $74,669.88 in prejudgment interest.
It was alleged that Michael Maciocio abused his position at a major pharmaceutical company to feed insider information to his friend and broker, DAVID HOBSON, who allegedly helped both of them benefit from trades based on that illegal edge.
The SEC alleged that from about May 2008 through  April 2014, MACIOCIO and HOBSON participated in a scheme to commit insider trading in advance of and in connection with acquisitions and transactions under consideration by the Pharma Company.  MACIOCIO and HOBSON were childhood friends and HOBSON had served as MACIOCIO’s investment advisor and broker for several years.
DAVID HOBSON has 5 Disclosures on his FINRA BrokerCheck, which include 2 criminal, 1 civil and 2 regulatory.  DAVID HOBSON has 22 years of experience in the securities industry and was listed with 5 firms.  The two most recent are listed below:
04/30/2010 - 05/18/2016  - OPPENHEIMER & CO. INC - PROVIDENCE, RI
03/09/2002 - 05/10/2010 -  RBC CAPITAL MARKETS CORPORATION - PROVIDENCE, RI
If you were a client of former Oppenheimer of Providence, Rhode Island, broker, DAVID HOBSON, and suffered losses due to his actions or recommendations, call Soreide Law Group and speak to a securities lawyer at no-cost regarding the possible recovery of your investments through a FINRA arbitration at:  888-760-6552.
Soreide Law Group represents our clients nationally and we operate on a contingency fee basis. Let our experience work for you.