Robert Spencer Cavanagh of Syosset New York is a stockbroker currently registered with David Lerner Associates, Inc. who is the subject of a customer initiated investment related arbitration claim where the customer sought $160,000.00 in damages supported by accusations that (1) omissions and misrepresentations had been made to the customer and (2) municipal debt transactions were effected in the customer’s account that were not suitable. Financial Industry Regulatory Authority (FINRA) Arbitration No. 17-01673 (July 5, 2017).
FINRA Public Disclosure confirms that Cavanagh has been referenced in two more customer initiated investment related disputes containing allegations of his improper conduct while employed with David Lerner Associates, Inc. Specifically, on May 9, 2013, a customer initiated investment related arbitration claim involving Cavanagh’s conduct was settled to resolve accusations that the customer’s real estate security transaction had been misrepresented. FINRA Arbitration No. 11-03999 (May 9, 2013).
Subsequently, a customer was awarded $205,497.00 in compensatory damages according to an investment related arbitration claim that pertained to Cavanagh’s misconduct, founded on Cavanagh being found liable for misrepresentation, breach of contract, breach of fiduciary duty, negligence, suitability and fraud relating to the customer’s bond investments. FINRA Arbitration No. 16-01059 (Oct. 13, 2017).
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