Dennis Phillip Ayre, a previously registered broker and investment adviser, is subject to multiple customer disputes, according to his Brokercheck Report.
Rosca Scarlato LLC attorney Alan Rosca and his colleagues are investigating the circumstances surrounding Ayre’s customer dispute disclosures. Investors who are concerned about their investments with Dennis Ayre may contact Alan Rosca for a free case evaluation or to provide any helpful information by calling 888-998-0530 toll free, emailing arosca@rscounsel.law, or through the contact form found on our webpage.
Multiple Customer Dispute Disclosures on Ayre’s Brokercheck
According to a FINRA Award, Dennis Ayre was a defendant in a customer dispute filed in December 2021. The customer reportedly alleged negligence and breach of fiduciary duty in relation to an investment in Foresight Energy LP stock made between 2014 to 2017. The customer asked for $300,000 in alleged damages. According to the award issued in April 2023, Dennis Ayre was found liable and was ordered to pay $322,648.32 in compensatory damages.
Ayre was allegedly subject to a customer dispute disclosure processed in July of 2021 (Case #: 21-01798). The customer alleged negligence, failure to supervise, and unsuitability, among others, relating to purchase and concentration of Foresight Energy LP stock in accounts. The customers requested $5,480,902.73 in alleged damages. According to a July 2023 update, the dispute was reportedly settled for $650,000.
Dennis Ayre was reportedly subject to three customer dispute disclosures dated September 2021. According to a customer dispute disclosure reportedly received on September 2, 2021, the claimant requested $787,147 in alleged damages for unsuitable investments (Case #: 20GDCV00700). The dispute was reportedly settled for $43,407.46.
Another customer dispute disclosure reportedly received on September 9, 2021, alleged excessive concentration, among others, and the customer requested $800,000 in alleged damages (Case #: 20GDCV00700). The claim reportedly settled for $77,000.
A dispute dated September 21, 2021, alleged suitability and concentration in relation to Foresight Energy LLC investments (Case #: 20GDV00700). According to Ayre’s Brokercheck report, the claim reportedly settled for $25,000.
In August of 2020, Ayre was allegedly subject to a customer dispute disclosure, which alleged unsuitable recommendations and misrepresentation (Case #: 20-02310). The customer requested $775,000 in alleged damages and the dispute was reportedly settled for $20,000.
Concerned about investments with
Ayre was reportedly subject to a customer dispute disclosure processed in May of 2020 (Case #: 20-01416). The claimants alleged unsuitability, breach of fiduciary duty, and breach of contract, among others, and requested $1,950,000 in alleged damages. The reported settlement was $20,000.
Another customer dispute disclosure was allegedly filed in April of 2020, which alleged excessive risk. The claimant requested $52,058 and the dispute was reportedly settled for $20,823.06.
Two customer dispute disclosures were reportedly processed in October of 2019. A customer dispute disclosure dated October 1, 2019, alleged suitability and excessive risk, among others, and the customer requested $11,472,671 in alleged damages, with a reported settlement of $604,000. Another customer dispute disclosure was allegedly received on October 21, 2019. The claimant alleged unsuitable investments, asked for $5,200,000 in alleged damages, and the dispute was allegedly settled for $394,142.09.
Dennis Phillip Ayre Barred By FINRA
In January of 2022, FINRA issued a Letter of Acceptance and Consent according to which Dennis Ayre, without admitting or denying FINRA’s allegations, agreed to being barred after he refused to provide on-the-record testimony requested by FINRA in connection with an investigation into Ayre’s alleged unsuitable investment recommendations to his customers.
Dennis Ayre Had Been a Registered Broker Since 2008
According to his Brokercheck, Dennis Ayre most recently was registered as a broker with Hilltop Securities Inc., in Beverly Hills, California, from 2019 to 2020. From 2014 to 2017, Ayre reportedly was a broker for Oppenheimer & Co, in its Los Angeles, California office.
Potential Compensation May Be Available for Concerned Ayre Investors
The Rosca Scarlato LLC law firm represents investors who lose money as a result of investment-related fraud or misconduct and is currently investigating circumstances surrounding previously registered broker and investment adviser Dennis Ayre’s customer dispute disclosures alleging unsuitability, concentration, and excessive trading, among others.
Rosca Scarlato LLC law firm typically represents clients on a contingency fee basis. This means that it advances the case costs and expenses, and fees are only paid from any compensation retrieved for clients. Attorney Alan Rosca, an investment lawyer and former adjunct professor of securities regulation, has over 14 years of experience representing investors in cases alleging broker misconduct.
Investors who are concerned about their investments with Dennis Ayre may contact attorney Alan Rosca for a free no-obligation consultation by calling toll-free 888-998-0530, via email at arosca@rscounsel.law, or through the contact form provided on our webpage.
It is important to note that, as of the date of this article, there has not been a finding of liability as to the complaints or allegations mentioned in this article, unless otherwise indicated. Any reader should also read the original sources hyperlinked in this blog for accuracy, including any Brokercheck report and/or record of any disciplinary or regulatory action. Those sources are incorporated by reference into the text of this blog and are the governing materials in case of any inconsistencies or typos in this blog. Readers should note that sometimes brokers may be able to expunge past customer complaints from their Brokercheck record, such that complaints referenced as of the date of this blog may not necessarily be reflected in future versions of the Brokercheck record. While the customer complaints mentioned in the Brokercheck report allege misconduct by Dennis P. Ayre, the Brokercheck report does not appear to indicate whether he was a named party to those customer complaints, or the customers took action solely against the broker-dealer firm(s) that employed him at the time of the alleged conduct. Readers interested to learn more are encouraged to read the Brokercheck report or contact the Rosca Scarlato investor lawyers.
