Published on:

David Lugo Has Over 100 Complaints

David LugoPublic records provided by the Financial Industry Regulatory Authority (FINRA) on June 27, 2016 indicate that former Puerto Rico-based UBS broker David Lugo has been the subject of more than one hundred resolved or pending customer complaints. The securities and investment fraud law firm Fitapelli Kurta is interested in hearing from investors who have complaints regarding Mr. Lugo (CRD# 3109426).

David Lugo has spent 16 years in the securities industry and was most recently registered with UBS Financial Services in San Juan, Puerto Rico (2002-2015). He was previously registered with Doral Securities in Puerto Nuevo, Puerto Rico. He is currently not registered with any state or firm.

According to his BrokerCheck report, David Lugo has received more than one hundred settled or pending customer complaints.

In June 2016, a customer alleged David Lugo, while employed at UBS Financial Services, recommended unsuitable investments and over-concentrated the account. The customer is seeking damages between $100,000 and $500,000 in the pending complaint.

In May 2016, a customer alleged David Lugo, while employed at UBS Financial Services, misrepresented material facts, over-concentrated the account, and made unsuitable recommendations. The customer is seeking unspecified damages in the pending complaint.

In May 2016, a customer alleged David Lugo, while employed at UBS Financial Services, recommended unsuitable investments, over-concentrated the account, and made material misrepresentations. The customer is seeking damages between $50,000 and $100,000 in the pending complaint.

In May 2016, a customer alleged David Lugo, while employed at UBS Financial Services, recommended unsuitable investments and over-concentrated the account. The customer is seeking damages between $100,000 and $500,000 in the pending complaint.

In 2015, a customer alleged David Lugo, while employed at UBS Financial Services, recommended an unsuitable investment. The complaint settled for $10,000.

In 2014, a customer alleged David Lugo, while employed at UBS Financial Services, misrepresented material facts related to an unsuitable investment recommendation. The complaint settled in 2015 for $19,000.

In 2014, a customer alleged David Lugo, while employed at UBS Financial Services, misrepresented and recommended a closed-end bond funds investment. The complaint settled in 2015 for $700,000.

In 2014, a customer alleged David Lugo, while employed at UBS Financial Services, misrepresented and recommended unsuitable investments. The complaint settled in 2015 for $400,000.

In 2014, a customer alleged David Lugo, while employed at UBS Financial Services, misrepresented material facts and made unsuitable recommendations. The complaint settled for $620,000.

In 2013, a customer alleged David Lugo, while employed at UBS Financial Services, misrepresented material facts and over-concentrated the account. The complaint settled in 2015 for $600,000.

If you or someone you know has complaints regarding David Lugo, call the securities and investment fraud law firm Fitapelli Kurta at 877-238-4175 for a free consultation. You may be entitled to recover lost funds. All cases are taken on contingency: we only receive payment if and when you collect money. Time to file your claim may be limited, so we suggest you avoid delay. Call 877-238-4175 now to speak to an attorney for free.