Goodman & Nekvasil P.A, May Recover Your Investment Losses – Dale Wesley Davenport Suspended from Securities Industry
Dale Davenport was licensed with Newbridge Securities Corporation Incorporated from 2011 to 2014. Dale Davenport was suspended from the securities and investment banking industry for six months and fined $7,500 by the Financial Industry Regulatory Authority (FINRA). FINRA reports that Dale Davenport, consented to the sanctions and to the entry of findings that Dale Davenport paid an individual who has never been registered with a member firm for referral of a customer based on commissions generated form transactions in the customer’s account. According to FINRA, Dale Davenport paid $43,664 to a company that the individual owned for transactions that occurred in the customer’s account during a period, and paid the individual company $19,738 for transactions that occurred during another time.
Subsequent to this FINRA action, FINRA reports that pursuant to FINRA Rule 8320, Dale Davenport’s FINRA registration was revoked for failing to pay the aforementioned $7,500 fine. Dale Davenport was also fined $1,500 by the State of Florida Department of Financial Services.
Prior to these actions, Dale Davenport was fired by Investors Capital Corp. in 2011. Investors Capital Corp. reported to FINRA that Dale Davenport paid an unapproved referral fee to a third party.
FINRA reports that four arbitration claims were filed involving Dale Davenport’s conduct with Investors Capital Corp. alleging unsuitable investments. These claims settled for $157,152, $125,000, $80,000, and $50,000.
If you lost any money on investments with Dale Davenport you may be able to recover your losses from Newbridge Securities Corporation. This is because Newbridge Securities Corporation had a duty to supervise Dale Davenport.
If you lost money on investments with Dale Davenport 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 Dale Davenport’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 $300 million on behalf of victimized investors. If you lost money on other investments with Dale Davenport 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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