Daniel Todd Lerner of White Plains New York a stockbroker currently registered with David Lerner Associates Inc. is the subject of a customer initiated investment related FINRA securities arbitration claim in which the customer sought $450,000.00 in damages founded upon accusations of misrepresentations and omissions regarding mutual fund transactions and a private placement offering during the time that Lerner was associated with David Lerner Associates. Financial Industry Regulatory Authority (FINRA) Arbitration No. 21-01435. According to the claim, the customer invested in unsuitable investments.
FINRA Public Disclosure shows that Lerner has been identified in ten additional customer initiated investment related disputes containing allegations of his improper actions while employed by David Lerner Associates Inc. On October 6, 2020, a customer filed an investment related FINRA securities arbitration claim concerning Lerner’s activities. They requested compensatory damages based on accusations that they had been defrauded in reference to their investments in Energy 11. FINRA Arbitration No. 20-03345. The claim alleges a breach of contract by Lerner relating to the private placement investments. Allegations also include misrepresentation and unsuitable transactions by Lerner at David Lerner Associates.
On October 16, 2020, a different customer filed an investment related complaint involving Lerner’s conduct in which they sought $170,000.00 in damages supported by accusations that in February 2017, mutual fund and private placement transactions were effected in their David Lerner Associates account by Lerner without him discussing the transactions beforehand.
Lerner is referenced in another customer initiated investment related FINRA securities arbitration claim where the customer requested between $100,000.00 and $500,000.00 in damages founded on allegations of the failure to supervise by David Lerner Associates, which led the customer to invest in unsuitable Energy 11 and ER 12 private placements. FINRA Arbitration No. 20-03998 (January 4, 2021). The claim alleges that Lerner omitted and misrepresented information relating to these alternative investments. The claim also contains accusations of breach of fiduciary duty.
On January 22, 2021, a different customer filed an investment related complaint concerning Lerner’s activities in which they sought $100,000.00 in damages based upon allegations that they invested in unsuitable mutual funds, DPPs, or LPs when Lerner was associated with David Lerner Associates Inc. Lerner is also the subject of a customer initiated investment related FINRA securities arbitration claim where the customer requested $515,795.00 in damages supported by accusations of a breach of fiduciary duty by Lerner concerning Energy 11 and mutual fund trades. FINRA Arbitration No. 21-00663 (March 22, 2021). According to the claim, Lerner executed unsuitable transactions and misrepresented information relating to them.
On March 30, 2021, another customer filed an investment related FINRA securities arbitration claim concerning Lerner’s conduct. They sought $100,000.00 founded upon allegations that Lerner breached a fiduciary duty about a private placement. FINRA Arbitration No. 21-00782. The claim alleges that misrepresentations and unsuitable transactions by Lerner resulted in damages.
Lerner has been registered with David Lerner Associates since September 20, 2000.
