Options for Clients Who Suffered Investment Losses with New York Broker Travis Lippmann
Posted on Tuesday, March 3rd, 2020 at 9:52 am
Erez Law is currently investigating New York broker Travis Lippmann (CRD# 5908823) for investment losses. Lippmann has been registered with Joseph Stone Capital L.L.C. in New York, New York since April 2019. Previously, Lippmann was registered with Newbridge Securities Corporation in New York, New York from 2017 to 2019 and prior to that with Maxim Group LLC in New York, New York from 2016 to 2017 and with Dawson James Securities, Inc. in New York, New York from 2014 to 2016.
Lippmann has been the subject of three customer complaints between 2017 and 2020, one of which was denied, according to his CRD report:
January 2020. “Claimant alleges breach of fiduciary duty, unsuitable investments, misprepresentation and negligence.” The customer is seeking $450,000 in damages and the case is currently pending. The complaint was regarding common and preferred stocks and took place while Lippmann was registered with Dawson James Securities, Inc., Maxim Group LLC, and Newbridge Securities Corp.
August 2019. “The claimant’s counsel alleges the following actions: unsuitable recommendations in violation of FINRA rule 2111; citing reasonable basis suitability, customer specific suitability, and over concentration. Material misrepresentations and omissions in violation of texas securities law and FINRA rule 2020. Violation of FINRA rule 2210. Material misrepresentations and negligence in violation of FINRA rule 2010. Respondent is liable under respondeat superior. Failure to supervise in violation of FINRA rule 3010.” The customer is seeking $200,000 in this pending customer complaint. The complaint was regarding penny stocks and took place while Lippmann was registered with Dawson James Securities, Inc.
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, Dawson James Securities, Inc., Maxim Group LLC, and Newbridge Securities Corp. may be liable for investment or other losses suffered by Lippmann’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.