Soreide Law Group has new information to share with you in regard to securities broker David Alan Stateman (CRD#: 5530638, Miami, Florida). It appears that FINRA indefinitely barred Stateman as a securities broker. Not only that, but Stateman is involved in an investor dispute that alleges sales practice violations at Allstate Financial Services, his employer, from 2014 to 2019. Here’s more on those disclosures.
It appears that in December 2020, FINRA barred David Stateman as a securities broker. This resolves allegations that he violated FINRA rules by not delivering on FINRA's request for documents and information. Evidently, FINRA reviewed information about Stateman’s termination from Allstate Financial Services. It determined that Stateman should explain the basis of his departure, especially as Allstate Financial Services relayed information about a client complaint. Evidently, Stateman did not satisfy FINRA's request but instead agreed to be barred as a securities broker.
FINRA BrokerCheck shows that an Allstate Financial Services client brought a complaint about Stateman in July 2019. Supposedly, Stateman received funds from them but did not invest in a timely manner. The complaint also alleges misinformation. For this reason, Allstate Financial Services opted to settle this matter in August 2020 by paying the client $32,669.
Did David Stateman cause you to experience losses? If so, call Soreide Law Group at (888) 760-6552 and speak with a securities lawyer about a potential recovery of your losses. Soreide Law Group represents clients on a contingency fee basis and advances all costs. The firm has recovered compensation for many United States investors who incurred losses because of their financial advisors and securities brokers. Please note that Stateman denies all allegations of his sales practice violations.
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