Erez Law is currently investigating Newbridge Securities Corporation broker John Forrester (CRD# 728188) regarding energy sector losses. He has been registered with Newbridge Securities Corporation in Boca Raton, Florida since 2010.
According to public records, a former client filed a FINRA arbitration against Newbridge Securities Corporation, alleging misconduct that resulted in financial losses. The elderly female was a client of Forrester, and he was not named in the lawsuit. According to the lawsuit filed, Forrester recommended the former client buy a speculative private placement in Hardrock Exploration, which has since gone bankrupt, as well as investments in Salient MLP, Virnetx, TNP Strategy Fund, and CVR Refining, all securities tied to the high-risk energy sector. At the time of investment, Forrester told the client that the investment was soli and would generate a steady stream of income her way.
According to public records related to this lawsuit, Newbridge Securities Corporation is accused of breach of contract, negligence, failure to supervise, breach of fiduciary duty, and violation of FINRA rules.
In 2010, FINRA suspended him for 2 weeks following allegations that he “failed to comply with an arbitration award or settlement agreement or to satisfactorily respond to a FINRA request to provide information concerning the status of compliance.”
John Forrester Customer Complaints
He has been the subject of three customer complaints between 1993 and 2023, according to his CRD report. The most recent complaints are regarding:
May 2023. “Breach of fiduciary duty, negligence, fraud, and breach of contract.” The customer is seeking $200,000 in damages.
April 2019. “Claimant alleges breach of fiduciary duty, breach of contract and negligence.” The customer sought $55,000 in damages, and the case was settled for $7,500.
Pursuant to FINRA Rules, member firms are responsible for supervising a broker’s activities during the time the broker is registered with the firm. Therefore, Newbridge Securities Corporation may be liable for investment or other losses suffered by John Forrester’s customers.
Erez Law represents investors in the United States for claims against brokers and brokerage firms for wrongdoing. If you have experienced investment losses, please call us at 888-840-1571 or complete our contact form for a free consultation. Erez Law is a nationally recognized law firm representing individuals, trusts, corporations and institutions in claims against brokerage firms, banks and insurance companies on a contingency fee basis.
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