Close Menu
Free Consultation: 888-976-6111

Martin Lerner: SOAEX, Energy 11/12 Complaints Against Boca Raton Rep

Boca Raton stockbroker Martin Lerner (CRD# 871038), a representative of David Lerner Associates, is involved in recent customer disputes alleging $700,000 in damages. According to Financial Industry Regulatory Authority disclosures, Lerner’s records also include a sanction and suspension by securities regulators over allegations he violated industry rules. 

Martin Lerner’s BrokerCheck report lists two pending investor disputes against him. Filed in 2020 and 2021, the complaints relate to his activities as a representative of David Lerner Associates. The 2020 complaint alleges he made misrepresentations and omissions in connection to allegedly unsuitable investments in SOAEX and Energy 12. The pending compliant alleges damages of $100,000. The 2021 complaint alleges he violated suitability obligations, misrepresented and omitted information, and breached his fiduciary duty with regard to investments in a mutual fund and in Energy 11, a private placement. The pending complaint alleges damages of $600,000.

Martin Lerner was also involved in a 2013 customer complaint alleging misrepresentation, fraud, breach of contract, forgery, and violations of securities regulations relating to a variable annuity investment; the complaint reached a settlement in 2013 of $35,000.

In 2006, according to his BrokerCheck report, the National Association of Securities Dealers (NASD) sanctioned Martin Lerner over allegations that acting on his firm’s behalf, he “permitted an individual to function as a principal without being properly registered in a principal capacity.” The NASD alleged further that he failed to reasonably supervise associated persons and registered representatives’ activities relating to variable life insurance sales and variable annuity sales. Lerner did not admit or dent the allegations, but consented to a $25,000 fine and a 20 business day suspension from association with any NASD member in any supervisory or principal capacity. The suspension lasted from March 20, 2006 until April 17, 2006. 

According to the Financial Industry Regulatory Authority, Martin Lerner holds 35 years of securities industry experience. He is a broker associated with David Lerner Associates’ offices in Boca Raton, Florida and Syosset, New York. He has been associated with David Lerner Associates since April 1994. He was previously registered with the firm from 1980 to 1988, before which he was registered with First Investors Corporation from 1979 until 1980. He has passed the Uniform Securities Agent State Law Examination (Series 63), the Securities Industry Essentials Examination (SIE), the General Securities Representative Examination (Series 7), the Municipal Securities Representative Examination (Series 52), the Registered Representative Examination (Series 1), the Municipal Securities Principal Examination (Series 53), and the General Securities Principal Examination (Series 24). He is licensed in Connecticut, Florida, New Jersey, New York, and North Carolina. (Information current as of November 15, 2021).

Facebook Twitter LinkedIn
Contact Us For A Free Case Evaluation
protected by reCAPTCHA Privacy - Terms
Latest Blog Posts
  • Kendal Cann: $50K Complaint Against Privileged Planning Advisor

    Saint Johns, Florida financial advisor Kendal Cann (CRD# 6504618) allegedly recommended unsuitable investments, according to a recent investor complaint. Financial...

    Read More
  • Paul Getty: Emerson, First Guardian Advisor Denies $435K Complaint

    San Mateo, California financial advisor Paul Getty (CRD# 6470002) has received multiple investor complaints alleging that his conduct resulted in...

    Read More
  • Katie Wei: $300K Complaint Against Ameriprise Advisor

    Redwood City, California financial advisor Katie Wei (CRD# 6242083) recently received an investor complaint alleging that her conduct resulted in...

    Read More
  • Bob Chung: SEC Charges Arete Advisor in Fraud

    Chicago financial advisor Bob Chung (CRD# 6208569) was recently charged by the Securities and Exchange Commission in connection with allegations...

    Read More
  • Previous
  • Next