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R. Douglas Armstrong: Dawson James Broker Has $2MM Complaint

According to digital records maintained by the Financial Industry Regulatory Authority (FINRA), Boca Raton broker R. Douglas Armstrong (CRD# 5236735) recently received an investor complaint alleging losses of $2 million. Armstrong is a representative of Dawson James Securities, where he has been registered since 2012. He has also received other pending or settled complaints.

R. Douglas Armstrong’s BrokerCheck report currently lists six settled customer complaints, two pending customer complaints, and one customer complaint that was denied by the firm.

The most recent complaint against R. Douglas Armstrong, filed in June 2021, alleged that his failure to sell shares of a sub-Nasdaq security not held by his clearing firm caused losses for the customer. The complaint alleged $2 million in damages and was denied by his member firm.

A complaint filed in 2019 alleges that as a representative of Dawson James, he misstated and omitted material facts, recommended unsuitable securities, and invested the account negligently. The pending complaint alleges damages of $105,000.

A complaint filed in 2018 alleged he misrepresented material facts, made promissory statements, and recommended an unsuitable investment while at Dawson James Securities. The complaint reached a settlement of $96,000.

A complaint filed in 2018 alleged that as a representative of Dawson James Securities, R. Douglas Armstrong made material misstatements, recommended unsuitable products, failed to provide full disclosures, and failed to prudently invest the customers’ accounts. The pending complaint alleges damages of $375,000.

Another complaint filed in 2018 alleged he “made misrepresentations and promissory statements in regard to a private placement” that was unsuitable for the customers. The complaint reached a settlement of $265,000.

A complaint filed in 2017 alleged that he provided false and misleading assurances and made unsuitable recommendations while a representative of Dawson James Securities. The complaint reached a settlement in 2019 of $150,000.

Financial Industry Regulatory Authority (FINRA) show that R. Douglas Armstrong holds 11 years of securities industry experience and has been registered as a broker with Dawson James Securities in Boca Raton, Florida since 2019. Before that he was registered with Westpark Capital in Boca Raton, Florida; and Aurora Capital in Bridgehampton, New York. He has passed three securities industry examinations: the Uniform Securities Agent State Law Examination, or Series 63; the Securities Industry Essentials Examination, or SIE; and the General Securities Representative Examination, or Series 7. He holds 13 state securities licenses. (Information current as of June 10, 2021.)

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