Customers File Claims Against David Lerner Associates For Misrepresentation

David Lerner Associates, Inc. (CRD#: 5397, Syosset, New York) is a brokerage firm regulated by Financial Industry Regulatory Authority (“FINRA”) who has reported 21 regulatory events and 17 arbitrations concerning allegations and findings of David Lerner Associates, Inc. violations of investment-related rules or regulations, customer harm, and supervisory failures. David Lerner Associates, Inc. registered representatives, including Darren Keith Nomberg, Julie Anne Morowitz and Scott Cory Ente, have disclosed disputes from customers who have alleged misrepresentation, breached of fiduciary duty, and other sales practice violations:

David Lerner Associates Broker Darren Keith Nomberg Discloses July 25, 2018 FINRA Arbitration

Darren Keith Nomberg (CRD#: 5034416, Boca Raton, Florida) joined David Lerner Associates, Inc. on November 17, 2005. Nomberg indicated on his FINRA BrokerCheck Report that his sales practices have been disputed by at least one David Lerner Associates, Inc. customer. That customer filed FINRA Arbitration #18-02639 on July 25, 2018. According to the customer, Nomberg omitted and misrepresented important information when recommending that the customer maintain Puerto Rican bond holdings. Because of the misrepresentation and omission allegations regarding the municipal bonds, the customer has requested as much as $500,000.00 in damages. Although Nomberg denies the customer’s allegations, the claim is still pending a resolution.

January 4, 2018 FINRA Arbitration #18-00048 Concerning Julie Anne Morowitz

Julie Anne Morowitz (CRD#: 1470359, Syosset, New York) is a David Lerner Associates, Inc. registered representative who has been with the firm since October 15, 2001. FINRA BrokerCheck confirms that a customer of Morowitz’s contested her sales practices according to FINRA Arbitration #18-00048, filed on January 4, 2018. From the customer’s perspective, Morowitz had misrepresented and omitted information with respect to the customer’s municipal bond purchases. Now the customer has demanded damages ranging from $500,000.00 to $1,000,000.00 to resolve those allegations of misrepresentation and omission. Morowitz has claimed to have not been responsible for the customer’s alleged harm; however, the claim is still underway.

David Lerner Associates Inc. Broker Scott Cory Ente And The January 4, 2018 FINRA Arbitration

Scott Cory Ente (CRD#: 2612038, Syosset, New York) has been a registered representative of David Lerner Associates, Inc. since August 23, 1995. Records show that one of Ente’s customers at David Lerner Associates, Inc. referenced his sales practice violations in the FINRA Arbitration #18-00048 dated January 4, 2018. Particularly, the customer indicated that Ente put the customer in municipal bonds that were not suitable or fitting to the customer’s investment profile. Additionally, the customer contended that Ente made misrepresentations and omissions regarding the municipal bonds purchased by the customer. Also, the customer claimed that Ente breached a fiduciary duty. Because of the unsuitability, misrepresentation, and breach of fiduciary duty allegations, the customer has requested at least $500,000.00 in damages in the pending matter.

If you have suffered losses by investing with David Lerner Associates, Inc. registered representatives such as Darren Keith Nomberg, Julie Anne Morowitz and Scott Cory Ente, call (888) 760-6552 for a free consultation with Soreide Law Group’s experienced counsel. Our firm has recovered millions of dollars for investors who have been victims to broker and brokerage firm misconduct. We represent clients on a contingency fee basis and advance all costs.