Furgison Law Group investigates claims against Jeffrey Lee Davidson

The securities fraud lawyers at Furgison Law Group are currently investigating claims against Jeffrey Lee Davidson, Raymond James Financial Services, Inc., and American Portfolios Financial Services, Inc. The arbitration specialists at Furgison Law Group are investigating claims involving allegations of breach of fiduciary duty, failure to supervise, misrepresentations, omissions of material facts, conflict of interests, violations of state and federal securities laws, along with other broker misconduct.

FINRA suspended and fined Jeffrey Lee Davidson $10,000

FINRA fined Jeffrey Lee Davidson (CRD #1352867, Stuart, Florida) $10,000 and suspended him from association with any FINRA member in any capacity for three months. Davidson consented to the sanctions and to the entry of findings that he recommended unsuitable mutual fund switch transactions in customer accounts. The findings stated that all of the transactions involved Davidson’s recommendation to purchase Class A mutual fund shares and to subsequently sell those shares within less than a year of the purchase, even though there were significant upfront costs associated with the purchase of Class A shares, and Class A shares are generally intended to be held long term. Davidson then recommended that the customers use the proceeds of the sales to purchase new Class A mutual fund shares, generally in different mutual funds from different fund families, which caused the customers to pay sales charges and commissions. The suspension is in effect from February 1, 2016, through April 30, 2016. ( FINRA Case #2013039482702)

Investors Have the Right to Recover Their Losses

When investments are sold by brokerage firms licensed by FINRA, they are subject to the laws that FINRA enforces. The brokerage firms are responsible for ensuring that their brokers are trading fairly, ethically and in the best interest of their clients. Ideally, they would accomplish this through careful supervision. Unfortunately, too often this supervision has been inadequate to fully protect investors. If you purchased any investments through a representative of a registered brokerage firm and suffered loses through negligence or fraud, it immediately puts the brokerage firm at fault for failing to supervise their broker. FINRA law then dictates that you can hold the firm legally liable to recover your damages. 

Can I recover my investment losses?

If you lost a substantial portion of your retirement savings or other assets as a result of investments purchased through Jeffrey Lee Davidson, Raymond James Financial Services, Inc., or American Portfolios Financial Services, Inc., please contact us immediately. Our investment fraud lawyers have recovered millions of dollars from the largest banks, insurance companies and brokerage firms in the world on behalf of investment fraud victims. You may have certain legal rights that require your immediate attention. Time is of the essence in these claims. The sooner you act, the greater your chances of recovering your investment losses. Don't wait. Contact us TODAY for a FREE Consultation and case evaluation. We will tell you if you have a viable claim worth pursuing.