Nathaniel R. Clay, of New York, New York, a stockbroker formerly with National Securities Corporation, is the subject of a pending customer dispute in which a customer seeks $513,218.40 in damages based upon the allegation that Clay committed negligence, breached his fiduciary obligations, and made misrepresentations to the customer.
FINRA BrokerCheck reveals that Clay has been previously subject to five additional customer disputes. Particularly, on September 20, 2004, Clay became subject to a customer dispute in which the customer requested $65,000.00 in damages after alleging that Clay failed to follow the customer’s instructions regarding the purchase and sale of securities.
On September 18, 2008, Clay settled a customer dispute for $42,000.00 after the customer alleged that Clay engaged in the improper use of margin and excessively traded the customer’s investment account. On September 18, 2009, Clay became subject to a customer dispute, in which the customer requested $60,000.00 in damages in connection with allegations against Clay of churning the customer’s account.
On May 11, 2010, Clay settled a customer dispute for $26,208.00 after he was alleged to have made misrepresentations to the customer, churned the customer’s account, and engaged in excessive trading. Clay was again accused of excessive trading on May 13, 2010, where the customer requested $5,000.00 in damages. Since November 2015, Clay has been associated with Laidlaw & Co., Ltd.
Guiliano Law Group
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