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Broker Complaints: D.A. Davidson & Company (CRD# 199)

The securities and investment fraud law firm Fitapelli Kurta is interested in hearing from investors who have complaints regarding the Montana-based brokerage and advisory firm D.A. Davidson & Company (CRD# 199).

Formed in Montana in 1935, D.A. Davidson & Company is headquartered in Great Falls, Montana and registered in 51 US states and territories. William Adam Johnstone, Jr. is Executive Chairman; James Patrick Kerr is President and Chief Executive Officer; Michael Joseph Purpura is President, Individual Investor Group; Wesley Dean Hall is Chief Compliance Officer; Timothy George Austin is Senior Vice President and Chief Operations Officer.

According to the firm’s BrokerCheck report, D.A. Davidson & Company is the subject of twenty-nine regulatory sanctions and six customer complaints that evolved into arbitration.

In 2014 the Financial Industry Regulatory Authority sanctioned D.A. Davidson & Company following allegations the firm failed to reasonably supervise registration filings. D.A. Davidson & Company was censured and fined $120,000.

In 2009 FINRA sanctioned D.A. Davidson & Company following allegations the firm failed to protect its customers’ confidential information, which was stored in an unencrypted database and compromised when a third party downloaded the information and subjected the firm to a blackmail scheme. D.A. Davidson & Company was censured and issued a fine of $350,000.

In 2004 the National Association of Securities Dealers (NASD) sanctioned D.A. Davidson & Company following allegations that the firm failed to maintain adequate supervisory procedures designed to prevent and detect late trading. D.A. Davidson & Company was censured and issued a fine of $150,000.

In 2004 a customer alleged D.A. Davidson & Company breached its fiduciary duty, misrepresented material facts related to an investment, acted negligently, and failed to supervise its representatives. The complaint resulted in an award to the customer of more than $93,600.

In 2004 a customer alleged D.A. Davidson & Company breached its fiduciary duty, breached contract, failed to supervise its representatives, and acted negligently.

In 2002 a customer alleged D.A. Davidson & Company breached contract, recommended unsuitable investments, acted negligently, and failed to supervise its representatives. A FINRA arbitration panel awarded the customer $292,000.

In 2001 a customer alleged D.A. Davidson & Company breached its fiduciary duty, misrepresented material facts connected to an investment, acted negligently, and made margin calls. A FINRA arbitration panel awarded the customer $54,130.

In 2000 a customer alleged D.A. Davidson & Company misrepresented and recommended an unsuitable investment, made errors in account charges, and failed to supervise its representatives. A FINRA arbitration panel awarded the customer $5,425.

If you have lost money investing with D.A. Davidson & Company, you may be entitled to recover your losses. Call the securities and investment fraud law firm Fitapelli Kurta at 877-238-4175 for a free consultation. All cases are taken on contingency: we only get paid if and when you recover money.  Time to file your claim may be limited, so we encourage you to avoid delay. Call 877-238-4175 now to speak to an attorney for free.