Investor Alert > David R. Garcia— Alleged Unsuitable & Over-concentrated Investments

Posted Apr 20, 2019

by Alan Rosca

David R. Garcia— Alleged Unsuitable & Over-concentrated Investments

David R. Garcia’s Alleged Investments in Puerto Rico Closed-end Funds were Unsuitable, Over-concentrated, & Misrepresented as Safe Investments

David R. Garcia, a Florida broker with 11 pending customer disputes, allegedly made investments in Puerto Rico closed-end funds which were unsuitable, over concentrated, and misrepresented as safe investments, according to to a Settled Customer Dispute filed on Hartnett’s FINRA BrokerCheck Report under review by investor rights attorney Alan Rosca.

The aforementioned dispute was filed on March 3 2019, FINRA states, and the time period for the actions was not specified.

A second Pending Customer Dispute alleges that Garcia took part in over-concentration, unsuitability, violations of the securities laws and regulations, common law fraud, constructive fraud, negligent misrepresentation, breach of fiduciary duty, breach of contract, negligent management, negligent supervision, and fraudulent concealment of misconduct (Puerto Rico bonds, open-end funds and closed-end funds), FINRA notes.

The aforementioned dispute was filed on December 26, 2018, FINRA states, and the time period for the actions was not specified.

A Third Pending Customer Dispute alleges that Garcia engaged in over-concentration, unsuitability, breach of fiduciary duty, violations of securities laws and rules, breach of contract, negligence, fraud, false inducement to inaction, failure to supervise, breach of duty of good faith and fair dealing (Puerto Rico bonds closed-end funds), FINRA reports. Damage Reports of $250,000 have been requested, FINRA states

Investor rights attorney Alan Rosca, of the Rosca Scarlato LLC law firm, is investigating activity related to David Garcia’s alleged unsuitable investment recommendations and over-concentrated investments. Investors who believe they may have lost money in activity related to David Garcia’s alleged unsuitable investment recommendations and over-concentrated investments are encouraged to contact attorney Alan Rosca with any useful information or for a free, no obligation discussion about their options.

Invested with Davin Garcia?

David Garcia Has 18 Disclosures on His FINRA BrokerCheck Report

David R. Garcia has 18 disclosures on his FINRA BrokerCheck Report, has 25 years in the securities industry, and is currently registered with Morgan Stanley in Coral Gable, FL, FINRA states.

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 mentioned in this article, unless otherwise indicated.

Invested with Davin Garcia?

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 Garcia’s alleged unsuitable investment recommendations and over-concentrated investments. 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. The Rosca Scarlato attorneys are not licensed to practice law in Puerto Rico, nor do they seek to practice law in Puerto Rico by virtue of publishing this blog. Please see their admissions to practice law at the bottom of this page.

Investors who believe they lost money as a result of David Garcia’s alleged unsuitable investment recommendations and over-concentrated investments 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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