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Broker Misconduct Investigation: Richard David Stone (Stifel Nicolaus & Company)

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Updated on: August 21, 2024

National investment loss lawyers KlaymanToskes is investigating broker Richard David Stone a/k/a Dave Stone of Stifel Nicolaus & Company Incorporated (CRD #4219856).

According to FINRA BrokerCheck, broker Richard David Stone a/k/a Dave Stone is currently facing a customer complaint alleging breach of fiduciary duty, negligence, fraud, breach of contract, and violations of New Jersey and Florida securities laws, with the customer seeking $1,000,000 in damages related to structured notes and common and preferred stocks.

Investors that suffered losses with broker Richard David Stone are encouraged to contact attorney Lawrence L. Klayman, Esq., at 888-997-9956 or by email at investigations@klaymantoskes.com to discuss recovery options. We do not collect attorney’s fees unless we are able to obtain a financial recovery for you.

Investment Losses with Broker Richard David Stone?

Investment Losses with Broker Richard David Stone?

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Stifel Broker Richard David Stone Faces $1M Customer Complaint

Richard Stone a/k/a David Stone, a broker who has been registered with Stifel, Nicolaus & Company since 2016, is facing serious allegations including fraud and violations of securities laws. Before joining Stifel, Stone worked at Morgan Stanley from 2010 to 2016.  In October 2023, a customer filed a complaint against Stone. The complaint alleges $1,000,000 in damages and reportedly involves investments in structured notes, common stocks, and preferred stocks.

Signs Investors Should Look Out For About Their Brokerage Accounts

As an investor, there are a few signs that you should look out for if you believe you may have a claim against broker Richard David Stone. These signs could potentially indicate misconduct, negligence, or investment fraud. Investors are encourage to contact our firm immediately if you have experienced any of the following:

  • You have substantial losses in your investment accounts
  • You received a call, email, or other communication from your broker’s supervisor or manager regarding your portfolio
  • Your broker misrepresented investment opportunities, or failed to disclose details about investments
  • You notice unauthorized transactions in your investment accounts
  • Your broker is not returning your calls or emails
  • You filed a complaint with your brokerage firm that has not been resolved
  • You see a mistake on your statement, or receive a fraudulent statement

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 Richard David Stone, or have concerns regarding your investment portfolio at Stifel Nicolaus & Company, contact KlaymanToskes at 888-997-9956 or fill out a short contact form for a free and confidential consultation.