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Lawrence Michael Labine formerly with Newbridge Securities Corporation Has 28 Customer Complaints for Alleged Broker Misconduct

Who is Lawrence M. Labine formerly with Newbridge Securities Corporation?

Lawrence Labine (CRD # 1279935) who was formerly with Newbridge Securities Corporation and located in Scottsdale, Arizona is a subject of one of our many securities industry sales practice abuse investigations. His license to act as a securities salesman was revoked in Arizona. He was permanently barred from the association as a broker-dealer by FINRA after entry of an AWC without admitting or denying the allegations. He was also permanently barred by the SEC connection with his offer and sale of debentures in a startup company.  

Prior to Newbridge Securities Corporation, Lawrence Labine was associated with two other investment advisory and brokerage firms with a history of customer complaints and securities industry regulatory problems.

Newbridge Securities Corporation Broker Misconduct

In his career, Lawrence Labine has been the subject of 28 customer complaints that we know about, 2 of those complaints were filed in the last year to recover investment losses. Two arbitration awards were entered against his employer for his misconduct.  Twelve of Lawrence Labine’s 28 customer complaints were settled in favor of investors.

Six of those complaints were denied by his employers and the customers took no further action.  There are currently 8 pending customer complaints filed against Lawrence Labine’s former employers Newbridge Securities Corporation and Dewaay Financial Networkfor investment losses caused by his alleged misconduct.

Allegations Against Lawrence Labine

A sample of the allegations made in the FINRA reported arbitration claim settlements and pending complaints for investment losses are as follows:

  • The claimant alleges improper investment recommendations.
  • The claimant alleges breach of fiduciary duty, unsuitable investments, failure to disclose associated risk in alternative investments.
  • Claimants allege unsuitability, breach of fiduciary duty, breach of contract, common law fraud, negligent supervision, and violation of the California securities laws.
  • Customers allege that they were recommended unsuitable real estate investment trust investments.
  • Claimants allege mismanagement and unsuitable investments.
  • The claimant alleged negligence, breach of fiduciary duty, misrepresentations, and unsuitable investment recommendations.
  • The claimant alleged unsuitable investment recommendations of real estate limited partnerships.  Claimant alleged breach of fiduciary duty, misrepresentation and omissions, negligence, and violation of the Arizona securities laws.
  • Customers allege that the representative recommended unsuitable high-risk investments.
  • Customers allege that they lost money through investing in a variable annuity’s error unsuitable for them.
  • The customer alleged that the investments in mutual funds in his advisory account were inappropriate.
  • The customer alleged that variable annuities recommended by the broker or unsuitable for his retirement account.

Lawrence Labine Red Flags & Your Rights As An Investor

Of course, Lawrence Labine did not admit to any of the allegations. But regardless of whether an arbitration award was entered, a settlement occurred, or the customer complaint is still pending, the allegations made by customers are red flags which should put all current and former customers of Lawrence Labine at Newbridge Securities Corporation on alert to review carefully the activity and performance of their accounts and question whether Lawrence Labinehas engaged in any stockbroker misconduct that may have caused them investment losses.

A large number of customer complaints at Newbridge Securities Corporation also raises questions about supervisory practices. If these red flags raise questions, call us and we will inform you of your rights as an investor.

File A Claim to Recover Your Investment Losses At Newbridge Securities Corporation

If you have questions about Newbridge Securities Corporation and/or Lawrence Labineand the management or performance of your accounts please contact Attorney Pearce for a free initial consultation via email or Toll Free at 1-800-732-2889.

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Robert Wayne Pearce

Robert Wayne Pearce of The Law Offices of Robert Wayne Pearce, P.A. has been a trial attorney for more than 40 years and has helped recover over $170 million dollars for his clients. During that time, he developed a well-respected and highly accomplished legal career representing investors and brokers in disputes with one another and the government and industry regulators. To speak with Attorney Pearce, call (800) 732-2889 or Contact Us online for a FREE INITIAL CONSULTATION with Attorney Pearce about your case.

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