Soreide Law Group, based in Pompano Beach, Florida, is currently investigating broker, DAVID LESLIE ARLEIN (DAVID L ARLEIN), formerly with Cabot Lodge Securities, LLC of Boca Raton, Florida. Arlein was with Cabot Lodge Securities from 03/12/2014 to 10/26/2022.
According to FINRA’s BrokerCheck, available to the public on FINRA’s website, DAVID L ARLEIN, has been registered in the securities industry for 51 years, and has been listed with 18 firms. He has 25 disclosures on his FINRA CRD report. The significance of Arlein’s FINRA Customer Complaints is underscored in FINRA NOTICE to MEMBERS 03-49. FINRA conducted a review of the CRD’s of all registered representatives, only .41% had been the subject of 3 or more customer complaints. In other words Arlein’s customer complaints rank him in the top one-hundredth percent of all registered representatives for customer complaints.
Of DAVID L ARLEIN’s 25 disclosures, 3 are “Regulatory, 4 are “Award/Judgement,” and 18 are “Customer Disputes.” Of the customer disputes, 1 was denied, 2 are pending, and 15 have settled.
There is a customer dispute pending that was filed in July of 2023 with allegations of, “Claimants alleging breach of fiduciary duty, negligence and negligent misrepresentation, breach of contract, failure to supervise, and negligence - violation of Regulation Best Interest regarding purchases of GWG L Bonds during the year 2020.” The damages requested are $300,000.00.
In January of 2023, there was a dispute filed that is currently pending, with the allegations of, “Claimants alleging breach of fiduciary duty, negligence, negligent supervision, fraud, breach of contract, violation of Sections 10(b) and 20(a) of the Securities Exchange Act, and Rule 10b-5 of the Securities, and Exchange Commission, violation of the Florida Securities and Investor Protection Act regarding purchase of GWG.” The damage amount requested is $500,000.00.
If you’ve experienced financial losses due to the actions or recommendations of DAVID L ARLEIN formerly of Cabot Lodge Securities, LLC of Boca Raton, Florida, particularly in the sale of GWG L Bonds, contact the South Florida-based, Soreide Law Group and speak to an experienced securities lawyer at no cost regarding the possible recovery of your investment losses through a FINRA arbitration at: 888-760-6552.
Soreide Law Group represents clients on a contingency fee basis nationwide before FINRA.
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