David Weisberg – Financial Advisor/Broker David Weisberg Suspended from Securities Industry | Goodman & Nekvasil, P.A. May Recover Investor Losses
David Weisberg CRD #5610111
David Weisberg was a previously licensed financial advisor/broker with Worden Capital Management, LLC. According to FINRA, David Weisberg was fined $7,500 and suspended from the securities industry for two months in November 2019.
According to FINRA Allegations:
David Weisberg consented to the sanctions and to the entry of findings that he engaged in excessive and unsuitable trading in the account of an elderly customer. The findings stated that David Weisberg began soliciting stock trades, based on tips from a certain stock-picking website and other sources. Some of David Weisberg’s recommendations involved in-and-out trading and many of them used margin. The customer relied on David Weisberg’s advice, accepting all of his recommendations. In virtually every case, the customer purchased or sold exactly the quantity of shares that David Weisberg suggested. The customer did not make any unsolicited purchases. The costs of David Weisberg’s trading in the customer’s account were significant and David Weisberg did not track the trading costs or take them into consideration when making recommendations. The trading generated commissions of approximately $75,638 for David Weisberg while the customer lost approximately $55,627. The findings also stated that David Weisberg used discretion to initiate stock trades in customers’ accounts without written authorization and David Weisberg’s member firm never accepted their accounts for discretionary trading.
Goodman & Nekvasil P.A. May Recover Investor Losses
If you lost money on investments with David Weisberg and believe 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 concerning David Weisberg’s 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 $180 million on behalf of victimized investors. If you lost money on investments with David Weisberg 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.
Some of the information in this blog post was obtained on 5/4/2020 directly from FINRA BrokerCheck, without any changes. If you believe this information was reported incorrectly, please contact our firm at 1-800-500-4442.
David Weisberg, Financial Advisor, Broker, Unsuitable Investment Advice, Investment Fraud, Churning, Misrepresentation and Omission of Material Facts, Elder Fraud, Unauthorized Trading, Theft, Selling Away, Unapproved Outside Business, Nationwide, SEC, Financial Advisor, Broker, David Weisberg