The Financial Industry Regulatory Authority (“FINRA”) reports troubling allegations of misconduct against prior Dawson James securities broker Travis Lippmann (CRD#: 5908823, New York, New York). Evidently, at least two of Lippmann’s clients at Dawson James came forward to dispute his sales practices. Notably, these disputes indicate that Lippmann made unsuitable recommendations and misrepresentations, among other things. Read on to learn more about what clients had to say about Lippmann:
Dawson James Client Indicates That Travis Lippmann Made Unsuitable Recommendations
Apparently, a client of Dawson James Securities contested Travis Lippmann’s sales practices by bringing FINRA Arbitration #: 19-01974 on July 16, 2019. First of all, the client alleged that Lippmann made unsuitable stock recommendations. It is possible that Lippmann violated FINRA Rule 2111 by failing to have a reasonable basis to believe that his recommendations were suitable when taking into account the client’s risk tolerance or goals. Secondly, Lippmann supposedly over-concentrated the client’s account in risky stocks. Thirdly, the client indicated that Lippmann misrepresented important facts about the investments. Finally, the Statement of Claim makes allegations of negligence and violation of Texas securities laws. For this reason, the client demanded $200,000 in damages in this ongoing matter.
Lippmann Allegedly Misrepresents Investments To Dawson James Client
Evidently, a second Dawson James client took action to dispute Travis Lippmann’s sales practices. Similar to the other client, this client stated that Lippmann misrepresented information about investments. Supposedly, the broker gave the client false or misleading information causing the client to invest in risky stocks. Also, Lippmann allegedly made unsuitable trades which caused losses for the client’s account. For this reason, the client demanded $34,000 in compensation. However, Dawson James denied the client’s complaint in May 2017.
Did Travis Lippmann Sell You Bad Investments?
Experienced losses due to securities broker Travis Lippmann, who worked for Dawson James from 2014 to 2016 and who now works for Joseph Stone Capital LLC? If so, contact Soreide Law Group at (888) 760-6552 and speak with experienced counsel about a possible recovery of your investment losses. Soreide Law Group represents clients on a contingency fee basis and advances all costs. The law firm has recovered millions of dollars for clients who have suffered losses due to misconduct of brokers and brokerage firms.