Financial Industry Regulatory Authority (“FINRA”) BrokerCheck contains important disclosures regarding securities broker Thomas Duggan (CRD#: 2757615, Melville, New York) that is relevant to investors. Specifically, investor disputes alleging excessive trading, unsuitable trading and unauthorized trading are on the record of the securities broker, who works for Aegis Capital Corp as financial advisor and securities broker (2016 to present). Here’s more on these disputes.
Evidently, a client of Aegis Capital Corp brought a dispute about Thomas Duggan in May 2021. In this FINRA Arbitration Claim, the client first alleged unauthorized trading by Duggan. Secondly, the securities broker allegedly made unauthorized trades in their Aegis Capital Corp brokerage account. Thirdly, the client contended that Duggan excessively traded. Given these allegations, the client demanded payment of $50,000 to resolve this ongoing matter.
Notably, a second Aegis Capital Corp client expressed concerns about Thomas Duggan’s trading. This January 2020 lawsuit alleges unsuitable trades and Aegis Capital Corp’s breach of contract from 2017 to 2019. Generally, suitability concerns an investor’s risk tolerance, investment objectives, liquidity needs and other important information bearing on whether investments are appropriate.
Supposedly, the client also sustained damages or losses because of alleged negligence and elder abuse. Although the securities broker denies the allegations, Aegis Capital Corp opted to settle this matter through making a $145,000 payment to the client in April 2021.
It appears that a third investor came forward with concerns or allegations against Thomas Duggan at Aegis Capital Corp. In this January 2019 FINRA Arbitration Claim, the client alleged that the securities broker or firm acted in breach of fiduciary duty and breach of contract. Not only that, but the client alleges misrepresentation by the securities broker. For this reason, they asked for $80,000. This matter is awaiting a resolution.
Moreover, in the first dispute reported on Thomas Duggan’s FINRA BrokerCheck record, a client of Investec Ernst Company alleged an unapproved purchase. Supposedly, the client experienced loses on an unauthorized stock purchase and an unauthorized stock sale. For this reason, they received compensation from the firm in a settlement.
Did you suffer losses or damages because of broker Thomas Duggan? If so, call Soreide Law Group at (888) 760-6552 and speak with a skilled securities lawyer about potentially recovering your losses. Soreide Law Group represents clients on a contingency fee basis and advances all costs. The firm has recovered compensation for investors in the US who have incurred losses because of their financial advisors and securities brokers. Keep in mind: Duggan denies all allegations of his sales practice violations.
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