DID JAMES RAY CAUSE YOU INVESTMENT LOSSES?
James Ray Of Newbridge Securities Corp., Newbridge Financial Services Group And Formerly With Raymond James & Associates Has 6 Customer Complaints For Alleged Broker Misconduct
Who is James Ray of Newbridge Securities Corp.?
James Ray (CRD #1854247) who is currently registered with Newbridge Securities Corp., Newbridge Financial Services Group and located in Boca Raton, Florida is a subject of one of our many securities industry sales practice abuse investigations. Prior to Newbridge Securities Corp. and Newbridge Financial Services Group, James Ray was associated with Raymond James & Associates and other investment advisory and brokerage firms with a history of customer complaints and securities industry regulatory problems.
James Ray Customer Complaints
James Ray has been the subject of 6 customer complaints that we know about. One arbitration award was entered against Citigroup Global Markets for James Ray’s alleged misconduct causing investors losses. One of James Ray’s 6 customer complaints was settled in favor of investors. Four of James Ray’s customers complaints were denied and, to date, the customers have not taken any further action.
Allegations Against James Ray
A sample of the allegations made in the FINRA reported arbitration claim settlements and/or pending complaints for investment losses are as follows:
- Client alleged unauthorized trading by James Ray.
- Alleged James Ray’s unsuitability, misrepresentation and negligence regarding purchases of speculative technology mutual funds and stocks.
- Claimants alleged, inter alia, that James Ray bought Fannie Mae preferred stock that carried a greater risk than was suitable for the clients.
- Client alleged that his instructions to invest his IRA account in a conservative manner were not followed by James Ray allegedly.
- Client’s attorney alleged James Ray’s “failure to exercise a reasonable standard of care in dealing with” the client because although she was assured that she would be informed of buy/sell recommendations, she failed to receive a call to sell when other clients were advised to sell.
- James Ray allegedly was named in a customer complaint that asserted the following causes of action: breach of contract, breach of fiduciary duty, and negligence. The causes of action related to claimant’s allegation that respondent breached an agreement to compensate claimant for respondent’s admitted mistake, regarding how an annuity would operate. Claimant further alleged that the annuity was solicited, but the annuity contract was not delivered to claimant, and the annuity features were misrepresented to claimant during the ten years of periodic reviews. Claimant also asserted that respondent agreed to pay claimant a sum in a pre-suit settlement, and that this action is to enforce that settlement.
James Ray Red Flags & Your Rights As An Investor
Of course, James Ray did not admit to any of the allegations. But regardless of whether an arbitration award was entered, a settlement occurred, or the customer complaint is still pending, the allegations made by customers are red flags which should put all current and former customers of James Ray at Newbridge Securities Corp., Newbridge Financial Services Group, and Raymond James & Associates on alert to review carefully the activity and performance of their accounts and question whether James Ray has engaged in any stockbroker misconduct that may have caused them investment losses. The large number of customer complaints at Newbridge Securities Corp., Newbridge Financial Services Group, and Raymond James & Associates also raises questions about the brokerage firms’ supervisory practices. If these red flags raise questions, call us and we will inform you of your rights as an investor.
File A Claim To Recover Your Investment Losses At Newbridge Securities Corp. Due To James Ray
If you have questions about Newbridge Securities Corp., Newbridge Financial Services Group, Raymond James & Associates, and/or James Ray and the management or performance of your accounts, please contact Attorney Pearce for a free initial consultation via email or Toll Free at 1-800-732-2889.
Rate this Post
Loading...