David John Taddeo (also known as David J. Taddeo), of La Mesa, California, a stockbroker registered with LPL Financial LLC, has been discharged by the securities broker dealer on February 9, 2024, based upon allegations that Taddeo engaged in private securities transactions or selling away, by directing customers to purchase securities outside and without the approval of his securities broker-dealer.
Following his departure LPL Financial appears to have paid more than $1 million to his customers.
Financial Industry Regulatory Authority (FINRA) Public Disclosure shows that Taddeo is referenced in six customer initiated investment related disputes concerning Taddeo’s conduct while associated with securities broker dealers. On June 3, 2002, a customer initiated investment related civil action involving Taddeo’s conduct was settled for $115,000.00 in damages based upon allegations that Taddeo failed to timely close out their profit sharing plan, resulting in losses when Taddeo was associated with LPL Financial. Civil Action No. 1C788972.
On February 14, 2011, another customer filed an investment related complaint involving Taddeo’s conduct in which the customer requested $55,000.00 in damages based upon allegations that Taddeo made unsuitable recommendations in corporate bonds, unit investment trusts, and CDs. The complaint was denied.
On June 19, 2020, a complaint involving Taddeo’s conduct was settled for $289,625.00 in damages based upon allegations that Taddeo misrepresented the terms of a variable annuity’s income guarantee.
Taddeo was also referenced in a complaint that was settled on July 7, 2020, for $325,000.00 in damages based upon allegations that Taddeo made misrepresentations of material fact in connection with the sale of variable annuities.
On December 10, 2020, a complaint involving Taddeo’s conduct was settled for $249,624.00 in damages based upon allegations that Taddeo made omissions in connection with the sale of variable annuities when Taddeo was associated with LPL Financial LLC.
Taddeo was also referenced in a complaint that was settled on February 16, 2024, for $107,500.00 in damages based upon allegations that Taddeo made unsuitable recommendations and breached his fiduciary duties to the customer in connection with private securities transactions.
Taddeo was associated with LPL Financial LLC in La Mesa, California from September 26, 2000, to March 8, 2024.
