David Bindelglass— Alleged Unsuitable Recommendations

David Hugh Bindelglass Allegedly Made Unsuitable Recommendations of Puerto Rico Bonds

David Bindelglass is the subject of a pending customer dispute filed on October 4, 2018 alleging, inter alia, that purchases of Puerto Rico bonds were allegedly unsuitable, and with purported unspecified damages between 2011 and 2017, according to FINRA Reports under review by investor rights attorney Alan Rosca.

Alan Rosca, of the Rosca Scarlato LLC law firm, is investigating activity related to
David Bindelglass’s alleged unsuitability. Investors who believe they may have lost money in activity related to David Bindelglass’s alleged unsuitability are encouraged to contact attorney Alan Rosca with any useful information or for a free, no obligation discussion about their options.

David Bindelglass also has also recently settled two other customer disputes alleging unsuitability for $5,657.26 and $25K, FIRNA notes, and in 2016 he reportedly settled another dispute alleging unsuitability of municipal bonds investments for $750K, and in 2014 for $157K, respectively, FINRA states.

David Bindelglass Currently is registered with Cantella & Co., Inc. in Pearl River, NY, and with Morgan Stanley from 2009 until January of 2018

David Bindelglass has been registered with Cantella & Co., Inc. in Pearl River, NY, FINRA notes.

Bindelglass was also registered with Morgan Stanley in Paramus, NJ from June 1, 2009 until January 19, 2018, when the aforementioned alleged unsuitability took place, FINRA states. Bindelglass also worked for Citigroup Global Markets, Inc. in Paramus, NJ from June 10, 2005 until June 1, 2009, FINRA notes.

Brokerage firms such as Morgan Stanley have a responsibility to adequately supervise all of their registered representatives who are employed through their firm, to prevent violations of securities rules and regulations. Brokerage firms also must initiate action to ensure that their financial advisors follow all securities rules and regulations, as well as internal firm policies. If and when brokerage firms fail to adequately supervise their registered representatives, they may be held liable for investment losses sustained by customers.

Finally, 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.

Securities Lawyer Investigating

The Rosca Scarlato LLC law firm represents investors who lose money as a result of investment-related fraud or misconduct and are currently investigating David Bindelglass’s alleged unsuitability. The firm takes most cases of this type on a contingency fee basis and advance the case costs, and only gets paid for their fees and costs out of money recovered for clients. Attorney Alan Rosca, a securities lawyer and adjunct professor of securities regulation, and has represented thousands of victimized investors across the country and around the world in cases ranging from arbitrations to class actions.

Investors who believe they lost money as a result of David Bindelglass’s alleged unsuitability may contact attorney Alan Rosca for a free no-obligation evaluation of their recovery options, at 888-998-0530, via email at arosca@rscounsel.law, or through the contact form on this webpage.

DISCLAIMER

In our legal system, every person is innocent until and unless found guilty by a court of law or a tribunal. Whenever we reference “allegations” or charges that are “alleged,” such allegations or charges have not been proven, and are merely accusations, not findings of fault, as of the date of the blog. We do not have, nor do we undertake, a duty to continue to monitor or follow matters about which we report, and/or to publish subsequent updates regarding various developments that may occur in such matters. Readers are encouraged to conduct their own research regarding any such matters and any developments that may or may not have occurred in such matters. Also, the Brokercheck report linked to some of our blogs is the up-to-date version as of the date of accessing by the reader. The information in our blogs is current as of the date of the drafting of the blog, and given that sometimes certain past complaints may no longer be listed in newer Brokercheck reports, some of the events referenced in some of our blogs may later on be removed from newer Brokercheck reports. Visitors may check the most recent version of each brokercheck report at www.finra.org, and may contact FINRA for the earlier version of the Brokercheck report upon which various blogs may be based.

If you believe you lost money as a result of investment-related fraud or misconduct, please contact our law firm for a free, no-obligation evaluation of your recovery options.

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