Dawson James’ Peter Ruggiere Allegedly Made Unsuitable Trades

Peter George Ruggiere (CRD#: 2248318, Boca Raton, Florida) has been a Dawson James Securities Inc. broker since February 6, 2008. Investors should be concerned that Peter Ruggiere has disclosed on his FINRA BrokerCheck profile that customers of Dawson James Securities, Inc., Josephthal & Co., Inc., and Newbridge Securities Corporation have pursued investment-related claims containing allegations against him of churning, suitability, and misrepresentation.

July 30, 2018 Arbitration

A customer of Dawson James securities filed FINRA Arbitration #18-02658 on July 30, 2018. Mainly, the customer alleged that Peter Ruggiere made unreasonable and unsuitable investment recommendations regarding stock investments. Also, he reportedly misrepresented information about those stock investments when the customer decided to purchase them. Furthermore, Peter Ruggiere allegedly made excessive stock trades in the customer’s account. Supposedly, Peter Ruggiere’s possible unsuitable trading, excessive trading, and misrepresentations of investments occurred from 2013 to 2018. Because of this, the customer demanded $80,013.13 in damages in the pending matter. However, Peter Ruggiere reportedly denies the customer’s allegations.

November 7, 2017 Complaint

A Dawson James customer filed a complaint with the brokerage firm about Peter Ruggiere’s sales practices. Supposedly, from May 2016 to November 2017, Peter Ruggiere made misrepresentations about common or preferred stock that the customer purchased. Allegedly, the customer purchased the investments while being unaware of Peter Ruggiere’s false or misleading statements. Like the July 30, 2018 Arbitration, Peter Ruggiere denies the customer’s allegations. Indeed, Peter Ruggiere indicated that the customer primarily complained about his investment recommendations. Either way, the customer requested $34,869.00 in compensation to remedy this matter. It remains to be seen whether Dawson James will resolve this matter.

May 23, 2005 Complaint

On May 23, 2005, a customer of Newbridge Securities brought an investment-related complaint about Peter Ruggiere. First, the customer contended that Peter Ruggiere made unsuitable mutual fund trades in the customer’s account. Secondly, the customer stated that Peter Ruggiere used margin to effect transactions contrary to the customer’s instructions. Overall, as a result of Peter Ruggiere’s alleged unsuitable trading, the customer’s investments poorly performed. Therefore, the customer alleged damages of $98,785.00. Yet, this matter closed without resolution.

February 24, 2003 Complaint

A Newbridge Securities Corp customer filed a complaint on February 24, 2003 regarding Peter Ruggiere. Principally, the matter concerned Peter Ruggiere’s alleged churning of common or preferred stock in the Newbridge customer’s account. Given the allegations of churning, the customer made a request for $75,000.00 in compensation. However, this matter is undecided.
If you have experienced losses by investing with Peter George Ruggiere, contact Soreide Law Group at (888) 760-6552 and speak with experienced counsel about a possible recovery of your investment losses. Soreide Law Group represent clients on a contingency fee basis and advance all costs. The firm has recovered millions of dollars for investors who have suffered losses due to misconduct of brokers and brokerage firms.