Advisor Alert: Our Attorneys Are Investigating Michael Shane David For Investment Fraud
Did You Lose Money Because of Michael David?
Filed: November 15, 2023
Michael David has been the subject of one (1) customer complaint. As an investor, you may be entitled to compensation for losses accrued due to mismanagement of your investments.
Let’s begin our Patil Law Advisor Alert with a summary report on Michael Shane David.
Who Is Michael Shane David?
- Advisor Name: Michael Shane David
- Aliases: Michael David
- CRD: 2880609
- Location: Amarillo, Texas
- Current Employer: Currently Not Registered
- Previous Firms: Cetera Advisor Networks LLC, LPL Financial LLC, and Sunamerica Securities, Inc.
- Number of Known Customer Complaints: 1
- Can Michael David Be Sued: Yes, in Private Arbitration
- Can Michael David’s Employers Be Sued For Failing to Supervise Actions: Yes, in Private Arbitration
- Highest Damages Allegation: $235,000
- Highest Settlement: $30,000
If you have suffered investment losses by Michael David, we strongly encourage you to exercise your rights to experienced legal representation. Recover what is owed to you by retaining a stockbroker fraud lawyer. Reach out to the legal team at Patil Law, P.C. via the secure online form or call the firm directly toll-free at 1-800-950-6553.
Customer Complaints Filed Against Michael David For Broker Misconduct
As of this publication date, Michael David has been the subject of 1 customer dispute. Let’s review it below.
In July 2020, a FINRA arbitration was filed against or in reference to Michael David by a customer of LPL Financial LLC alleging that the client was induced into purchasing at least three alternative products- two BDCs and one REIT – which she allegedly did not understand and were allegedly misrepresented to her. The client alleges the investments were unsuitable. Per the customer, she lost over $235,000 because of Mr. David’s actions. On January 14, 2022, Mr. David settled the claim for $30,000, and some or all of this amount may have been paid by Mr. David’s employer and/or insurance carrier.
How To File A Claim Against Michael David (previously with Cetera Advisor Networks LLC, LPL Financial LLC, and Sunamerica Securities, Inc.) To Get Your Money Back.
If you have questions about Michael David, Cetera Advisor Networks LLC, LPL Financial LLC, Sunamerica Securities, Inc., or the management or performance of your accounts, please contact Attorney Patil for a free initial consultation via email or toll-free at 1-800-950-6553.