David Michael Murray of New York New York a stockbroker formerly registered with Worden Capital Management LLC is the subject of a customer initiated investment related FINRA securities arbitration claim in which the customer sought $653,700.00 in damages based upon accusations that between August of 2017 and December of 2019, stock and over-the-counter equities transactions were not suitable for the customer and that Murray breached a fiduciary duty to them, i.e. to refrain from self-dealing, in reference to these transactions. Financial Industry Regulatory Authority (FINRA) Arbitration No. 21-01521 (July 7, 2021). According to the claim, misrepresentations and omissions were made by Murray. The claim also alleges excessive trading.
Murray has been identified in five more customer initiated investment related disputes concerning allegations of his wrongful actions while employed by Laidlaw Company UK Ltd., HD Brous Co. Inc. and Worden Capital Management. FINRA Public Disclosure shows that a customer initiated investment related complaint regarding Murray’s conduct was settled for $21,000.00 in damages supported by accusations that unauthorized trades were executed in the customer’s account by Murray during the period that he was associated with HD Brous.
Murray is also referenced in a customer initiated investment related FINRA securities arbitration claim which was resolved for $79,452.00 in damages founded on allegations that the customer’s funds were not used as intended but instead subjected to unauthorized over-the-counter equities transactions that resulted in losses. According to the claim, the customer’s assets were misappropriated and converted. Murray allegedly breached a fiduciary duty and breached a contract. The claim also alleges negligence.
Murray is the subject of a different customer initiated investment related written complaint in which the customer requested $46,744.65 in damages based upon accusations that Murray misrepresented information in regard to the customer’s investments in over-the-counter equities when Murray was associated with HD Brous.
On December 11, 2020, an additional customer filed an investment related FINRA securities arbitration claim involving Murray’s conduct where the customer sought $278,274.00 in damages supported by allegations that Murray made excessive and unsuitable trades in their account during the time that Murray was associated with Laidlaw Company. FINRA Arbitration No. 20-03892. The claim alleges that the customer’s account had been overconcentrated in equities and stocks.
Murray’s registration with Laidlaw Company has been terminated as of August 11, 2017. Since August 1, 2017, he has been registered with Worden Capital Management.
