Milind Pinak Dalal of San Jose, California, a stockbroker associated with Purshe Kaplan Sterling Investments, was the subject of a customer initiated investment related civil action in which the customer requested $500,000.00 in damages based upon allegations that Dalal provided “bad advice” concerning an “investment club,” Casa Blanca Investments, which appears to be a novel theory of recovery. In the Complaint, which appears to have been filed in Court, as opposed to being filed in FINRA Arbitration, Dalal is alleged to have been negligent and to have breached fiduciary his duties during the time that he was associated with Purshe Kaplan Sterling Investments. Civil Action No. 23CV418299 (July 20, 2023).
Financial Industry Regulatory Authority (FINRA) Public Disclosure shows that Dalal was also referenced in a customer initiated investment related complaint filed on January 20, 2009, in which the customer requested $62,000.00 in damages based upon allegations that Dalal made misrepresentations of material fact in connection with the sale of insurance products when Dalal was associated with Pruco Securities LLC. The complaint was denied.
Dalal has been associated with Clarity Wealth Advisors as an investment adviser representative in San Jose, California since October 15, 2013, and associated with Purshe Kaplan Sterling Investments as a stockbroker in San Jose, California since October 14, 2013.