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Suitability, Churning Allegations Against Newbridge Broker Dana Davis

Dana DavisPublic records published by the Financial Industry Regulatory Authority (FINRA) and accessed on July 10, 2018 indicate that New York-based Newbridge Securities broker Dana Davis has received resolved or pending customer disputes. Fitapelli Kurta is interested in speaking to investors who have complaints regarding Mr. Davis (CRD# 1707708).

Dana Davis has spent 29 years in the securities industry and has been registered with Newbridge Securities Corporation in New York, New York since 2006. Previous registrations include First Montauk Securities in Hauppage, New York (2002-2006); Global Capital Securities Corporation in Englewood, Colorado (2000-2002); Gilford Securities in New York, New York (1995-2000); Josephtal Lyons & Ross in New York, New York (1993-1995); Robert Todd Financial Corporation in New York, New York (1990-1993); Global Capital Securities (1990); and the Stuart-James Company in Denver, Colorado (1989-1990). He has passed four securities industry examinations: Series 63 (Uniform Securities Agent State Law Examination), which he obtained on April 13, 1989; Series 7 (General Securities Representative Examination), which he obtained on March 18, 1989; Series 24 (General Securities Principal Examination), which he obtained on April 27, 2001; and Series 4 (Registered Options Principal Examination), which he obtained on February 16, 2000. He is a registered broker with 24 US states and territories.

According to his BrokerCheck report, he has received five customer complaints and one pending customer complaint, and he was discharged from a former employer in connection to alleged rule violations.

In January 2018 a customer alleged Dana Davis, while employed at Newbridge Securities Corporation, misrepresented material facts, recommended unsuitable trades, executed excessive transactions, was negligent in his supervisory duties, and breached his fiduciary duty. The customer is seeking $250,000 in damages in the pending complaint.

In 2007 a customer alleged Dana Davis, while employed at First Montauk Securities Corporation, executed unauthorized transactions, churned investments, breached his fiduciary duty, committed fraud, and acted negligently. The complaint, from which he was voluntarily dismissed, settled for $75,000.

In 2006 a customer alleged Dana Davis, while employed at First Montauk Securities Corporation, executed excessive and unauthorized trades. The complaint settled for $7,500.

In 2006 he was discharged from his position at First Montauk Securities following allegations he executed unauthorized trades and failed to follow firm policies and procedures.

In 2002 a customer alleged he, while employed at Gilford Securities, made unauthorized trades. The complaint settled for $35,000.

In 1997 a customer alleged he, while employed at Josephthal & Company, participated in excessive, unauthorized and unsuitable activities. The complaint settled for $45,000.

If you have lost money investing with Dana Davis, you may be able to recover your losses. Call Fitapelli Kurta at 877-238-4175 for a free consultation. All cases are taken on a contingency basis: Fitapelli Kurta only gets paid if and when you collect funds. 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.