Rick A. Davidson, of New York, New York, a stockbroker formerly associated with Morgan Stanley, has been named in a customer initiated investment related arbitration claim on July 22, 2016, in which the customer requested $1,000,000.00 in damages based upon allegations that Davidson effected unsuitable investments in the customer’s investment account from January of 2013 through March of 2016.
FINRA Public Disclosure reveals that Davidson has been subject to three additional customer initiated investment related arbitration claims. Particularly, on September 28, 2011, Davidson became subject to a customer initiated arbitration claim on September 28, 2011, in which the customer requested $565,677.71 in damages based upon allegations that Davidson, in his capacity as the customer’s financial advisor, failed to disclose investment returns to the customer.
On January 5, 2012, Davidson settled a customer initiated investment related arbitration claim for $8,185.90 in damages based upon allegations that Davidson effected an unsuitable and unauthorized purchase of a bond in the customer’s account. On March 6, 2012, Davidson resolved a customer initiated investment related arbitration claim for $101,787.94 in damages based upon allegations that Davidson effected unauthorized transactions in the customer’s account.
On May 17, 2016, Morgan Stanley permitted Davidson to resign based upon allegations that Davidson engaged in unauthorized discretionary trading in several customer accounts. He has been registered with Jefferies LLC since May of 2016.
Guiliano Law Group
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