Pending investor complaints against Newport Beach financial advisor Martin Klein (CRD# 1778613) allege that his investment advice resulted in damages...Read More
Dana Davis: $50K-$100K GPB Complaint Against Boca Raton Advisor
Newbridge Securities advisor Dana Davis (CRD# 1707708) recently received an investor complaint alleging he misrepresented and recommended unsuitable investments in GPB Capital. Financial Industry Regulatory Authority records show that he is a broker based in Boca Raton, Florida.
Mr. Davis’s BrokerCheck report discloses multiple investor complaints. The most recent, filed in August 2021, alleged that as a representative of Newbridge Securities, he made misrepresentations and omissions of material information, over-concentrated securities in the customer’s accounts, and recommended unsuitable investments in GPB Capital Holdings. The pending complaint alleges damages between $50,000 and $100,000. In a statement on the disclosure, Mr. Davis wrote that he “vehemently denies the allegations,” and further that he “expressly denies any wrongdoing in connection with the servicing of the client’s accounts.”
A second investor complaint, alleged in 2018, alleged that he recommended unsuitable investments, used margin, acted negligently, and breached his fiduciary duty while at Newbridge Securities. In 2021 the complaint reached a settlement of $46,750.
A third investor complaint, filed in 2018, alleged that Mr. Davis made misrepresentations of material information, engaged in unsuitable and excessive trading, was negligent in his supervisory responsibilities, and breached his fiduciary duty. In 2019 the complaint reached a settlement of $55,000.
A fourth investor complaint, filed in 2004, alleged that as a representative of First Montauk Securities, he made unauthorized trades, engaged in churning, breached his fiduciary duty, committed fraud, and made misrepresentations. In 2008 the complaint reached a settlement of $75,000.
According to the Financial Industry Regulatory Authority, Dana Davis holds 33 years of securities industry experience. Based in Boca Raton, Florida, he has been a broker with Newbridge Securities Corporation since 2006. His past registrations include First Montauk Securities, Global Capital Securities Corporation, Gilford Securities, Josephthal Lyon & Ross, Robert Todd Financial, Global Caital Securities, and the Stuart-James Company. His credentials include the passage of five securities industry qualifying examinations: the Registered Options Principal Examination, or Series 4; the General Securities Principal Examination, or Series 24; the General Securities Representative Examination, or Series 7; the Securities Industry Essentials Examination, or SIE; and the Uniform Securities Agent State Law Examination, or Series 63. He holds 26 state licenses. (Information current as of August 3, 2022.)
Carlson Law represents investors throughout the United States in claims against financial advisors and investment firms. If you or a loved one have suffered investment losses, please call us at 888-976-6111 or complete our contact form for a free and confidential consultation.