gavel on money

Travis Justin Lippmann of New York New York a stockbroker formerly registered with Newbridge Securities Corporation is the subject of a customer initiated investment related arbitration claim which was settled for $55,000.00 in damages based upon allegations that the customer’s losses had been caused by negligence and the breach of a fiduciary by Lippmann in regard to the stock trades he effected in the customer’s account. Financial Industry Regulatory Authority (FINRA) Arbitration No. 19-03634 (Mar. 20, 2020).

According to the claim, misrepresentations were made to the customer concerning stocks sold by Lippmann. Transactions were allegedly unsuitable for the customer and had resulted in losses in the customer’s stock portfolio at Dawson James Securities, Maxim Group LLC and Newbridge Securities Corporation.

FINRA Public Disclosure indicates that Lippmann has been identified in two additional customer initiated investment related disputes pertaining to allegations of his misconduct. On May 30, 2017, a customer filed an investment related complaint pertaining to Lippmann’s conduct in which the customer requested $34,000.00 in damages supported by allegations that the customer’s investment instructions were not followed. The complaint alleges that transactions effected in the customer’s account were in no way suitable and that misrepresentations had been made regarding securities transactions during the period in which Lippmann was employed by Dawson James.

Lippmann is the subject of another customer initiated investment related arbitration claim where the customer sought $200,000.00 in damages based upon accusations that Lippmann failed to have an adequate basis for believing that his transactions were suitable in violation of FINRA Rule 2111. FINRA Arbitration No. 19-01974. The claim also alleges that misrepresentations and omissions were made to the customer relating to penny stock and equity transactions that were effected in the customer’s Dawson James account in violation of FINRA Rule 2020. According to the claim, the securities broker dealer failed to supervise Lippmann which led the customer to experience losses.

Lippmann’s registration with Newbridge Securities Corporation has been terminated as of April 8, 2019. Since April 2, 2019, he has been registered with Joseph Stone Capital LLC. Since May 6, 2011, Lippmann has been associated with eight different broker dealers, two of which have been expelled by securities regulators for violation of federal securities laws or are otherwise defunct.