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Reid & Rudiger LLC Broker Clifford Reid Investment Losses

Posted on Wednesday, February 19th, 2020 at 6:53 pm    

Reid & Rudiger LLC

Have you suffered losses due to investments with Reid & Rudiger LLC broker Clifford Reid (CRD# 1905920)? Reid has been registered with Reid & Rudiger LLC in New York, New York since 1999.

Reid has been the subject of seven customer complaints between 1997 and 2019, one of which was closed without action, according to his CRD report. Recent complaints are regarding:

October 2019. “Customer alleged sales practice violations including false and misleading statements, excessive trading, breach of fiduciary duty and failure to supervise.” The customer is seeking $220,542. in damages and the case is currently pending. The complaint is regarding equity OTC and common and preferred stocks.

September 2019. “Customer alleged sales practice violations including unsuitability, excessive trading, negligent supervision, and breach of fiduciary duty.” The customer is seeking $86,000 in damages and the case is currently pending. The complaint is regarding equity OTC and common and preferred stocks.

September 2019. “Customer alleged sales practice violations including unsuitability, excessive trading, failure to supervise and breach of fiduciary duty.” The customer is seeking $218,388 in damages and the case is currently pending. The complaint is regarding equity OTC and common and preferred stocks.

August 2019. “Customer alleged breach of fiduciary duty, violation of FINRA rules, breach of contract, negligence and negligent supervision.” The customer is seeking $499,999 in damages and the case is currently pending. The complaint is regarding equity OTC and common and preferred stocks.

January 2019. “Customer alleges representative did not place stop loss order.” The customer sought $250,000 in damages and the case was settled for $120,000. The complaint is regarding equity OTC.

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, Reid & Rudiger LLC may be liable for investment or other losses suffered by Reid’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.