National investment loss lawyers KlaymanToskes is investigating broker David Page (CRD# 2874899) formerly of Spartan Capital Securities.
According to FINRA BrokerCheck, broker David Page, formerly of Spartan Capital Securities, has been suspended by the Financial Industry Regulatory Authority (“FINRA”) due to findings that he failed to comply with an arbitration award or settlement agreement or to satisfactorily respond to a FINRA request to provide information concerning the status of compliance. Page is also currently involved in a civil complaint with the Securities and Exchange Commission.
Investors that suffered losses with broker David Page are encouraged to contact attorney Lawrence L. Klayman, Esq., at 888-997-9956 or by email at investigations@klaymantoskes.com to discuss potential recovery options. We do not collect attorney’s fees unless we are able to obtain a financial recovery for you.
David Page, who used to work as a broker with Spartan Capital, has been suspended by the Financial Industry Regulatory Authority (FINRA). FINRA found that Page failed to comply with an arbitration award or settlement agreement or to satisfactorily respond to a FINRA request to provide information concerning the status of compliance.
In May 2023, David Page was involved in a customer complaint whereby the customer was awarded $135,000 in damages for allegations including fraud; churning; negligence; misrepresentations; deception; breach of fiduciary duty; and negligent supervision.
On September 28, 2023, the Securities and Exchange Commission issued a complaint against Page and other defendants who were registered representatives at Salomon Whitney LLC, a broker-dealer in Melville, New York doing business under the name SW Financial. Defendants recommended and executed a short-term, high-volume trading strategy in the accounts of at least sixteen retail customers (“the Affected Accounts”) without a reasonable basis. These registered representatives recommended and executed more than 2,000 trades in the Affected Accounts without regard for the high transaction costs incurred by the customers. As a result of this high volume of recommended transactions and their attendant commissions and fees, it would have been virtually impossible for these customers to achieve a profit in their accounts. Indeed, the trading resulted in aggregate losses exceeding $1,000,000 in the Affected Accounts during the Relevant Period.
As an investor, there are a few signs that you should look out for if you believe you may have a claim against broker David Page. These signs could potentially indicate misconduct, negligence, or investment fraud. Investors are encouraged to contact our firm immediately if you have experienced any of the following:
Some investors have close relationships with their brokers due to the time and trust built over the course of their investment relationship. However, it is crucial to remember that financial decisions should be based on careful analysis and due diligence rather than solely relying on personal relationships.
Engaging the services of an experienced securities attorney to evaluate your specific circumstances is strongly advised. At KlaymanToskes, our team of experienced securities attorneys has a deep understanding of this complex area of law, allowing us to provide invaluable insight and tailored guidance that directly addresses your individual needs.
If you suffered losses with broker David Page, or have concerns regarding your investment portfolio at Spartan Capital Securities, contact KlaymanToskes at 888-997-9956 or fill out a short contact form for a free and confidential consultation.