Advisor Alert: Our Attorneys Are Investigating Richard Elliot Lieberfarb For Investment Fraud
Did You Lose Money Because of Richard Lieberfarb?
Filed: November 6, 2023
Richard Lieberfarb has been the subject of two (2) customer complaints. 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 Richard Elliot Lieberfarb.
Who Is Richard Elliot Lieberfarb of LPL Financial LLC?
- Advisor Name: Richard Elliot Lieberfarb
- Aliases: Richard Lieberfarb
- CRD: 4171363
- Location: Rockville Centre, New York
- Current Employer: LPL Financial LLC
- Previous Firms: David Lerner Associates, Inc.
- Number of Known Customer Complaints: 2
- Can Richard Lieberfarb Be Sued: Yes, in Private Arbitration
- Can Richard Lieberfarb’s Employers Be Sued For Failing to Supervise Actions: Yes, in Private Arbitration
- Highest Damages Allegation: $35,000
- Highest Settlement: $2,500
If you have suffered investment losses by Richard Lieberfarb, we strongly encourage you to exercise your rights to experienced legal representation. Recover what is owed to you by retaining an investment 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 Richard Lieberfarb For Broker Misconduct
As of this publication date, Richard Lieberfarb has been the subject of 2 customer disputes. Let’s review them below.
In September 2020, a FINRA arbitration was filed against or in reference to Richard Lieberfarb by multiple customers of LPL Financial LLC alleging that Mr. Lieberfarb recommended that they invest in unsuitable Real Estate Investment Trusts and Business Development Companies, after failing to disclose pertinent details about the nature of the investments. Claimants allege they suffered losses after investing in the recommended products. Per the customers, they lost over $35,000 because of Mr. Lieberfarb’s actions. On January 14, 2022, Mr. Lieberfarb settled the claim for $2,500, and some or all of this amount may have been paid by Mr. Lieberfarb’s employer and/or insurance carrier.
In November 2008, a complaint was filed against or in reference to Richard Lieberfarb by a customer of David Lerner Associates, Inc. alleging that the Spirit of America Mutual Fund purchases to be unsuitable and claims Lieberfarb acted to violate fiduciary responsibility. Per the customer, he/she lost over $21,700 because of Mr. Lieberfarb’s actions.
How To File A Claim Against Richard Lieberfarb of LPL Financial LLC (previously with David Lerner Associates, Inc.) To Get Your Money Back.
If you have questions about Richard Lieberfarb, LPL Financial LLC, David Lerner Associates, 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.