David Francis Faline of Boca Raton Florida is a stockbroker formerly registered with Newbridge Securities Corporation who is the subject of a customer initiated investment related arbitration claim in which the customer requested two hundred thousand dollars in damages based upon accusations that Faline made unsuitable investment recommendations to the customer which caused the customer to sustain stock losses. Financial Industry Regulatory Authority (FINRA) Arbitration No. 17-02451 (Sept. 29 2017).
FINRA Public Disclosure additionally reveals that on February 14, 2013, a customer filed an investment related written complaint pertaining to Faline’s conduct, in which the customer sought $130,000.00 in damages supported by allegations that the customer’s funds had been liquidated without the customer’s consent and misappropriated.
Subsequently, a customer initiated investment related arbitration claim regarding Faline’s activities was resolved for $14,999.00 in damages founded on accusations of breach of fiduciary duty, misrepresentation, misleading and false statements, and suitability relating to stock, over-the-counter equity and corporate debt transactions placed in the customer’s investment portfolio. FINRA Arbitration No. 14-00457 (Mar. 31, 2015).
Faline’s registration with Newbridge Securities Corporation was terminated as of December 28, 2015. Between April 3, 2017 and June 15, 2017, he was associated with Allstate Financial Services, LLC.
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