Dennis Hayes, Financial Advisor Permitted to Resign from Newbridge Securities Corporation | Goodman & Nekvasil P.A, May Recover Investor Losses
Goodman & Nekvasil P.A, May Recover Investor Losses | Dennis Hayes, Financial Advisor Permitted to Resign from Newbridge Securities Corporation
From 2010 until Dennis Hayes’ resignation in 2016, Dennis Hayes was a licensed financial advisor with Newbridge Securities Corporation. According to FINRA’s records, Dennis Hayes was permitted to resign by Newbridge Securities Corporation on September 8, 2016. Newbridge Securities Corporation reported to FINRA that Dennis Hayes was terminated for two reasons in that the firm had an open internal review regarding a customer complaint that evolved into an arbitration for possible selling away and private securities transactions and that Dennis Hayes had little or no production in the last 12 months.
FINRA also reports two claims, that have been settled, against Dennis Hayes. In the first claim, Dennis Hayes’ customer requested redemption and payment for two financial instruments sold to her by Dennis Hayes which had matured, and payments were not received. The allegations claimed were, but not limited to: (1) failure to supervise; (2) misconduct under the theories of control person liability and respondeat superior; (3) participated in the sale of unregistered investments; (4) violated suitability obligations; (5) breach of fiduciary duty; (6) negligent and fraudulent misrepresentations and omissions. The claim settled for $120,000. In the second claim, claimant alleged: (1) fraud; (2) constructive fraud; (3) negligent misrepresentations and omission; (4) violations of North Carolina Securities Act. This claim was settled for the amount of $12,000. FINRA also reports that there are two more pending claims against Dennis Hayes alleging unsuitable and unauthorized transactions.
If you lost any money on investments with Dennis Hayes, you may be able to recover your losses from Newbridge Securities Corporation. This is because Newbridge Securities Corporation had a duty to supervise Dennis Hayes.
If you lost money on investments with Dennis Hayes and believe that the investments may have been unsuitable or otherwise improper for you, we would like to discuss the possibility of your retaining our firm to represent you in an arbitration action against Newbridge Securities Corporation, concerning Dennis Hayes’ conduct. There is no charge for an evaluation of your case. Further, we handle our cases on a contingency fee basis. This means that unless we recover money for you, we charge no attorney’s fee. Unless you recover any money, you pay us nothing, not even the costs and expenses which the firm will advance on your behalf.
Kalju Nekvasil, Esq., formerly regional counsel with the NASD, now known as FINRA, has practiced in this area of the law for more than 35 years. Goodman & Nekvasil, P.A. has recovered more than $300 million on behalf of victimized investors. If you lost money on investments with Dennis Hayes and would like your case evaluated by a securities attorney (again, there is no charge for an evaluation and all cases are handled on a purely contingency fee basis), please contact us.
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