David Leslie Arlein, a previously registered broker in Boca Raton, FL, is subject to multiple customer dispute disclosures alleging breach of fiduciary duty, unsuitable recommendations, and negligence, among others, according to his Brokercheck Report.
Rosca Scarlato LLC attorney Alan Rosca and his colleagues are investigating the circumstances surrounding Arlein’s customer dispute disclosures. Investors who are concerned about their investments with David Arlein 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 website.
Arlein’s Customer Dispute Disclosures
A customer dispute disclosure was reportedly filed in July of 2023 (Case #: 23-01916). The claimant alleged breach of contract, negligence, and breach of fiduciary duty, among others, relating to the purchasing of GWG L Bonds and requested $300,000.
Another customer dispute disclosure allegedly processed in January of 2023, requested $500,000 in alleged damages for similar allegations relating to the purchase of GWG bonds (Case #: 23-00105).
In October of 2020, Arlein was reportedly subject to a customer dispute disclosure (Case #: 20-03489) claiming $300,000 in alleged damages. The claimant alleged failure to supervise, negligence, and breach of fiduciary duty, among others, and the dispute was reported as settled for $200,000.
A customer dispute disclosure was allegedly filed in October of 2019, alleging unsuitable transaction and negligence in connection with a Non-Traded REIT investment product (Case #: 19-03213). $500,000 was requested and the dispute was reportedly settled for $150,000.
The Brokercheck Report for David Arlein also discloses a significant number of older customer dispute disclosures.
Received in January of 2014 (Case #: 14-00090), a customer dispute disclosure alleged irresponsible recommendations involving direct investments and UIT. The claimant reportedly requested $70,000 in alleged damages and accepted $35,000 to settle the matter.
Concerned about investments with
Arlein was allegedly subject to a customer dispute disclosure processed in September of 2012, which alleged unsuitable investments (Case #: 12-03041). $90,000 was requested in alleged damages and the claimant reportedly settled for $30,000.
A customer dispute disclosure was reportedly made in March of 2012 (Case #: 12-00643). The claimant alleged unsuitable recommendations, requested $500,000 in alleged damages, and reportedly settled for $75,000.
From 1999 to 2004, David Arlein was subject to at least 14 additional customer dispute disclosures. They made various allegations, including unsuitable recommendations, misrepresentation, and negligence, among others, and the majority of them are reported as settled.
Arlein Had Been a Registered Broker Since 1970
According to his Brokercheck, David Arlein most recently was registered as a broker with Cabot Lodge Securities LLC, located in Boca Raton, Florida, from 2014 to 2022.
Potential Compensation for Concerned Arlein 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 David Arlein’s customer dispute disclosures alleging negligence, unsuitable recommendations, and breach of fiduciary duty, 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 loss lawyer and former adjunct professor of securities regulation, has over 14 years of experience representing investors who have experienced investment loss due to broker misconduct.
Investors who are concerned about their investments with David Arlein 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 website.
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 David L. Arlein, 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.
