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How to Bring a Claim Against Concorde Investment Services, LLC Broker Barry Lemay

Posted on Monday, March 8th, 2021 at 6:41 pm    

Concorde Investment Services

There are options for clients who suffered investment losses due to recommendations by Concorde Investment Services, LLC broker Barry Lemay (CRD# 306332). Lemay has been registered with Concorde Investment Services, LLC in San Jose, California since 2012. 

Lemay has been the subject of 11 customer complaints between 2009 and 2020, three of which were denied and two were closed without action, according to his CRD report. Recent complaints are regarding: 

December 2020. “Client is alleging suitability relating to various investments made from August 2012 to February 2018.” The customer is seeking $237,000 in damages and the case is currently pending. The complaint took place while Lemay was registered with Concorde Investment Services, LLC and was regarding direct investments and LP interests, real estate securities, and various alternative investments. 

July 2015. “Client is alleging negligence, breach of fiduciary duty and suitability in relation to tic investments made from 2003 to 2008.” The customer sought $2,822,797.02 in damages and the case was settled for $40,000. The complaint was regarding real estate securities and a tenant in common investment. The complaint took place while Lemay was registered with VSR Financial Services and Pacific West Securities. 

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, Concorde Investment Services, LLC may be liable for investment or other losses suffered by Lemay’s 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.