One or more investors possibly experienced losses because of securities broker Michael Joseph Norton [CRD: 2617985, Syosset, New York], based on public information found on Financial Industry Regulatory Authority (FINRA) BrokerCheck. Evidently, Norton joined David Lerner Associates Inc. on June 15, 1998. He joined Spirit of America Management Corp on October 28, 2022. Keep reading to find out more about the disclosures concerning Norton and the investment-related disputes linked to his work as a securities broker.
David Lerner Associates Client Alleged Misrepresentation
Particularly, a David Lerner Associates Inc. client filed FINRA Arbitration No. 24-00487 about Michael Norton. The client alleged omissions, misrepresentation, and unsuitability in connection with mutual funds between December 4, 2018, and March 7, 2024. Because of this, the investor allegedly incurred damages of $500,000. Therefore, on April 21, 2025, David Lerner Associates Inc. settled this matter by paying the client $20,000 in damages.
Michael Norton Disclosed Negligence Allegations By David Lerner Associates Client
Also, a client of David Lerner Associates Inc. disputed Michael Norton’s sales practices by bringing FINRA Arbitration No. 21-02199. Allegedly, Norton was negligent, breached fiduciary duty, and engaged in misrepresentation and omissions regarding mutual funds and private placements (Energy 11). It appears that Norton caused the client to sustain damages of $350,000. For this reason, David Lerner Associates Inc. agreed to settle the matter on August 14, 2023, by paying compensation amounting to $108,408.
Norton Disclosed Puerto Rico Bond Unsuitable Advice Allegations By A David Lerner Associates Inc. Client
Additionally, a client of David Lerner Associates Inc. took aim at Michael Norton’s conduct by filing FINRA Arbitration No. 19-01874. Allegedly, Norton made unsuitable recommendations of Puerto Rico bonds. As a result, David Lerner Associates Inc. opted to settle the dispute on November 18, 2019, by paying compensation totaling $2,750.
Michael Norton Disclosed Misrepresentation/Omission Allegations By A David Lerner Associates Inc. Client
Specifically, a client of David Lerner Associates Inc. disputed Michael Norton’s sales practices by bringing FINRA Arbitration No. 18-00260. Allegedly, Norton gave unsuitable advice and made misrepresentations in connection with municipal bonds. It appears that Norton caused the client to sustain damages. Consequently, David Lerner Associates Inc. opted to settle the matter on September 20, 2018, by paying $4,750.
Were You Impacted By Financial Advisor / Securities Broker Norton?
Are you concerned regarding investments you made with Michael Norton? If so, reach out to Soreide Law Group online or at (888) 760-6552 and consult with a securities attorney concerning a potential recovery of your investment losses. Soreide Law Group has recovered losses for clients located throughout the US. Also, the firm works on a contingency fee arrangement and advances all costs. Norton and brokerage firms Norton worked for deny allegations referenced within these public disclosures.
