Dawson James Securities Clients File Disputes About Securities Broker Douglas Armstrong
Soreide Law Group has important information to share with you regarding Robert Douglas Armstrong (CRD#: 5236735, Boca Raton, Florida). Namely, Armstrong, who became a Dawson James Securities Inc. employee in August 2012, is involved in eight investor disputes. Here's more on the disclosures and what you could do if you experienced losses from him.
Investor Files Dispute About Penny Stock Transactions At Dawson James Securities
Evidently, a client of Dawson James Securities made a complaint about Armstrong in May 2021. Mainly, the client alleges that Armstrong caused them to experience lost profits of $2,000,000 because of failing to sell their sub NASDAQ security holdings. However, Dawson James Securities denied the client’s complaint in June 2021.
Armstrong Faces Accusations Of Unsuitable Recommendations Relating To DPPs, LPs
Mainly, a Dawson James Securities client disputed Armstrong’s sales practices through a January 2019 FINRA Arbitration Claim. First, the client alleged that Armstrong misrepresented and omitted information in connection with direct investments, including DPPs and LPs. Secondly, Armstrong allegedly made unsuitable recommendations. Finally, the client contends that the securities broker invested their account negligently at Dawson James Securities. Because of this, the firm opted to settle this matter by paying the client $35,000 in July 2021.
Client Of Dawson James Securities Alleges Unsuitable Advice By Armstrong
In addition, a client of Dawson James Securities contested Armstrong’s representations regarding direct participation programs and limited partnership interests. Notably, in the January 2019 FINRA Arbitration Claim, the client alleged material misstatements and omissions regarding DPPs and LPs. Also, Armstrong supposedly did not invest the client's account properly. It appears that the securities broker purportedly made poor recommendations of investments. For this reason, the securities firm opted to resolve this matter by making a $10,000 payment to the client in March 2019.
Armstrong’s Dawson James Securities Client Alleges Failure To Invest Account Prudently
In a third dispute reported on Armstrong’s BrokerCheck record, a client of Dawson James Securities took issue with allegedly unsuitable and misrepresented alternative investment transactions. According to this December 2018 FINRA Arbitration Claim, Armstrong did not fully disclose information relating to the client’s purchase of DPP and LP interests. Supposedly, the client experienced damages because of Armstrong’s sales practice violations and received $123,000 from Dawson James to settle this matter in November 2021.
Prior Disputes Allege Misrepresentation By Armstrong At Dawson James Securities
In four other disputes reported on Armstrong’s BrokerCheck record, clients allege misrepresentation. In one of the disputes, the client alleged that Armstrong provided false and misleading assurances. And in another dispute, a client claimed that the securities broker made promissory statements regarding investments. Moreover, clients alleged unsuitability. It seems that Dawson James Securities resolved these disputes by compensating clients.
Losses By Investing With Armstrong?
Notably, securities broker Armstrong denies allegations of sales practice violations. Have you experienced investment losses by interacting with this broker? If so, reach out to Soreide Law Group at (888) 760-6552 and speak with experienced counsel concerning a possible recovery. Soreide Law Group represents clients on a contingency fee basis and advances all costs. The law firm has recovered substantial compensation for US clients who have experienced losses from their securities brokers and financial advisors.
