Were You a Victim of Former First Standard Financial Company LLC Broker Andre Davis?

Posted on Tuesday, November 5th, 2019 at 11:58 am    

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Erez Law is currently investigating former First Standard Financial Company LLC broker Andre Davis (CRD# 1417097) regarding client investment losses. Davis has been registered with Paulson Investment Company LLC in New York, New York since July 2019. Previously, Davis was registered with First Standard Financial Company LLC in Red Bank, New Jersey from 2015 to 2019.

Davis has been the subject of 15 customer complaints between 2002 and 2019, three of which were denied, according to his CRD report. Recent cases are regarding:

August 2019. “Excessive trading, unsuitable investments, & unauthorized trades.” The customer is seeking $350,000 in damages and the case is currently pending. This case was regarding common and preferred stocks and took place while Davis was employed by First Standard Financial.

June 2019. “Claimant alleged churning, unauthorized trading and poor performance.” The customer is seeking $152,400 in damages and the case is currently pending. This case was regarding common and preferred stocks and took place while Davis was employed by First Standard Financial.

May 2019. “Unauthorized trading, excessive trading, unsuitable investments.” The customer is seeking $461,000 in damages and the case is currently pending. This case was regarding equity OTC and took place while Davis was employed by First Standard Financial.

April 2019. “Excessive Trading, Unauthorized Trading.” The customer is seeking $300,000 in damages and the case is currently pending. This case was regarding common and preferred stocks and took place while Davis was employed by First Standard Financial.

April 2019. “Excessive trading, unsuitable investments.” The customer is seeking $238,135.68 in damages and the case is currently pending. This case was regarding common and preferred stocks and took place while Davis was employed by First Standard Financial.

February 2019. “Unauthorized trading & suitability.” The customer is seeking $668,000 in damages and the case is currently pending.

July 2018. “Churning & unsuitable trades.” The customer sought $100,000 in damages and the case was settled for $35,000. This case was regarding common and preferred stocks and took place while Davis was employed by First Standard Financial.

July 2016. “Unsuitable recommendations.” The customer sought $5,000 in damages and the case was settled for $24,999.

Pursuant to FINRA Rules, member firms are responsible for supervising a broker’s activities during the time the broker is registered with the firm. Therefore, First Standard Financial Company LLC may be liable for investment or other losses suffered by Davis’ customers.

Erez Law represents investors in the United States for claims against brokers and brokerage firms for wrongdoing. If and have experienced investment losses, please call us at 888-840-1571 or complete our contact form for a free consultation. Erez Law is a nationally recognized law firm representing individuals, trusts, corporations and institutions in claims against brokerage firms, banks and insurance companies on a contingency fee basis.