Scott Mass of Syosset New York a stockbroker currently employed by David Lerner Associates Inc. is the subject of a customer initiated investment related arbitration claim in which the customer requested $500,000.00 in damages based upon accusations that (1) contractual obligations were breached (2) the customer’s account was handled negligently (3) fiduciary duties had been breached (4) transactions were executed in the customer’s account which were not suitable for the customer and (5) the customer was defrauded in regard to the municipal debt transactions effected in the customer’s account. Financial Industry Regulatory Authority (FINRA) Arbitration No. 18-02395 (June 28, 2018).
FINRA Public Disclosure confirms that Mass is referenced in four more customer initiated investment related disputes pertaining to allegations of his violative conduct during the time that he was associated with David Lerner Associates Inc. Particularly, on December 23, 2011, a customer filed an investment related complaint concerning Mass’ conduct where the customer sought $5,000.00 in damages supported by accusations that Mass poorly advised the customer concerning mutual fund investments held in the customer’s investment portfolio. Then, on March 9, 2012, a customer filed an investment related complaint regarding Mass’ activities in which the customer requested $250,000.00 in damages founded on allegations that misrepresentations and omissions had been made concerning Apple real estate investment trust investments; and inappropriate real estate securities transactions were effected in the customer’s account. FINRA Arbitration No. 12-00805 (Mar. 9, 2012).
On August 8, 2016, a customer filed an investment related complaint involving Mass’ conduct where the customer sought $65,000.00 in damages based upon accusations that between July of 2014 and August of 2016, transactions were executed in the customer’s account that were not suitable for the customer given the customer’s age; and at the time that the customer purchased mutual funds, misrepresentations had been made to the customer about the risks of those investments.
Then, a customer initiated investment related arbitration claim regarding Mass’ conduct was settled for $15,000.00 in damages supported by allegations that inappropriate mutual fund transactions were effected in the customer’s account. FINRA Arbitration No. 16-03587 (Nov. 20, 2017).
Mass has been associated with David Lerner Associates since August 22, 1989.
