Advisor Alert: Our Attorneys Are Investigating Thomas Francis Shay For Investment Fraud
Did You Lose Money Because of Thomas Shay?
Filed: October 25, 2023
Thomas Shay has been the subject of one (1) regulatory event and 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 Thomas Francis Shay.
Who Is Thomas Francis Shay of Cambridge Investment Research, Inc. and Cambridge Investment Research Advisors, Inc.?
- Advisor Name: Thomas Francis Shay
- Aliases: Thomas Shay
- CRD: 857957
- Location: Rochester, New York State
- Current Employer: Cambridge Investment Research, Inc. and Cambridge Investment Research Advisors, Inc.
- Previous Firms: Gunnallen Financial, Inc., RBC Dain Rauscher Inc., and Prudential Securities Incorporated
- Number of Known Customer Complaints: 1
- Number of Known Regulatory Events: 1
- Can Thomas Shay Be Sued: Yes, in Private Arbitration
- Can Thomas Shay’s Employers Be Sued For Failing to Supervise His Actions: Yes, in Private Arbitration
- Highest Damages Allegation: Unknown
- Highest Settlement: Unknown
If you have suffered investment losses by Thomas Shay, 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 Thomas Shay For Broker Misconduct
As of this publication date, Thomas Shay has been the subject of 1 regulatory event and 1 customer disputes. Let’s review them below.
In April 2020, a complaint was filed against or in reference to Thomas Shay by a customer of Cambridge Investment Research, Inc. alleging that Mr. Shay sold an unsuitable variable annuity.
In August 2004, New York Department of Insurance initiated a regulatory event against or in reference to Thomas Shay as he admitted that during the approximate period between May 2000 and February 2002, he violated Section 2123 of the Insurance Law and Department Regulation 60 (11 NYCRR 51.5) in connection with annuity contract placements that involved replacement of annuity contracts within the meaning of Section 2123 of the Insurance Law and Department Regulation 60 (11 NYCRR 51.2).
How To File A Claim Against Thomas Shay of Cambridge Investment Research, Inc. and Cambridge Investment Research Advisors, Inc. (previously with Gunnallen Financial, Inc., RBC Dain Rauscher Inc., and Prudential Securities Incorporated) To Get Your Money Back.
If you have questions about Thomas Shay, Cambridge Investment Research, Inc., Cambridge Investment Research Advisors, Inc., Gunnallen Financial, Inc., RBC Dain Rauscher Inc., Prudential Securities Incorporated, 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. Our team has recovered approximately $25 million dollars on behalf of investors who lost money due to bad advice by their broker or brokerage firm. We’d love to help you out too.