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Investigations

Dana Hawkins Investigation Into Unsuitable Investment Recommendation Allegations

Dana Hawkins Investigation Into Unsuitable Investment Recommendation AllegationsDana Matthew Hawkins, a registered investment adviser and broker with Centaurus Financial Inc, is the subject of multiple customer disputes instituted against him on the allegation of unsuitable investment recommendations according to Dana Hawkins investigation by securities attorney, Alan Rosca.

Securities attorney Alan Rosca of the Goldman Scarlato & Penny PC law firm, is investigating conduct related to the pending customer disputes against the Centaurus broker, Dana Hawkins on the allegations of unsuitable investment recommendations. Centaurus Financial Inc. is a Financial Industry Regulatory Authority (FINRA) member firm, and Dana Hawkins is a member of the firm as at the time of this investigation.

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    Dana Matthew Hawkins Subject of Multiple Customer Disputes

    The Dana Hawkins investigation by securities attorney Alan Rosca of publicly-available records reveals that broker Dana Hawkins has multiple customer disputes instituted against him; with a total of fifteen disputes brought against him within September 2018 and April 2020.

    According to the reports on his FINRA Brokercheck page, a client is seeking $100,000 in damages in a customer dispute instituted in April, 2020. The customer alleges that during the period of 2012 to the same month of April 2020, broker Dana Hawkins misrepresented unsuitable investments and breached his fiduciary duty.

    In another dispute instituted in February 2020, the client seeks to recover $171,000 in damages on the similar allegations that within the period of 2011 to January 2018, the broker recommended unsuitable investments and also breached his fiduciary duty.  Another dispute brought in the same month of 2020 alleges that Hawkins invested their account in unsuitable investments. As a result of this, the customer is seeking damages to the tune of $100,000.

    The Dana Hawkins investigation by the securities attorney further reveals that in another dispute instituted in October 2019, the client alleged that during the period of 2010 through June 2018, the registered representative misrepresented unsuitable investments. From this dispute, the client sought to recover $100,000 in damages but the dispute was settled for $14,750.

    Another client was also seeking to recover the same amount on similar allegations in a dispute initiated in September 2019. The customer alleges that Dana Hawkins breached his fiduciary duty and misrepresented unsuitable investments to them within the period of 2014 to 2019. And the dispute eventually settled for $7,500.

    Another client who did not disclose the period of the alleged activity also initiated a proceeding against the broker on the same allegation. The client who initiated the dispute in September 2019 also sought $100,00 in damages but the dispute was settled for $55,000.

    Generally speaking, one of the most important duties owed by any broker or investment adviser to their client is the fiduciary duty. This is the duty to act in utmost good faith. This implies that the broker is expected to only carry out activities that will protect the interest of the clients in the financial markets. This would involve recommending suitable investments to the client. It would also involve a duty to make proper accounts to the client and ensure the client is not exposed to a loss. In this case, unsuitable investment recommendations are investment recommendations that are not generally viable investments, or they are investments that do not suit the status and financial needs of the clients.

    When brokers and investment advisers engage in such, they can be found liable for losses arising out of such investment recommendations. Securities attorneys may be helpful to investors in recovering their investment loss from the brokers and investment advisers. All these are general considerations, not necessarily applicable to any one case, and do not constitute legal advice.  Investors looking for legal advice for their particular situation should contact a qualified lawyer and discuss about the facts applicable to their specific case.

    The majority of the allegations against the Centaurus broker, Dana Matthews are on the subject of recommending unsuitable investments and where found liable, he might be liable to pay the damages sought by the clients.

    Finally, it is important to note that, as of the date of this article, there has not been a finding of liability as to the complaints mentioned in this article, unless otherwise indicated.

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      Securities Lawyer Investigating

      The Goldman Scarlato & Penny PC law firm represents investors who lose money as a result of investment-related fraud or misconduct and is currently investigating conduct related to broker Dana Hawkins’s pending customer disputes on the allegation of unsuitable investment recommendation.

      The firm takes most cases of this type on a contingency fee basis and advances the case costs, and only gets paid for their fees and costs out of money recovered for clients. Attorney Alan Rosca, a securities lawyer and adjunct professor of securities regulation, has represented thousands of victimized investors across the country and around the world in cases ranging from arbitrations to class actions.

      Investors who believe they lost money as a result of conducts related to broker Dana Matthew Hawkins’s multiple customer disputes on the allegation of unsuitable investment recommendation may contact attorney Alan Rosca for a free no-obligation evaluation of their recovery options, at 888-998-0530, via email at rosca@lawgsp.com, or through the contact form on this webpage.

      In our legal system, every person is innocent until and unless found guilty by a court of law or a tribunal. Whenever we reference “allegations” or charges that are “alleged,” such allegations or charges have not been proven, and are merely accusations, not findings of fault, as of the date of the blog. We do not have, nor do we undertake, a duty to continue to monitor or follow cases about which we report, and/or to publish subsequent updates regarding various developments that may occur in such cases. Readers are encouraged to conduct their own research regarding any such cases and any developments that may or may not have occurred in such cases. Also, the brokercheck report linked to some of our blogs is the up-to-date version as of the date of accessing. Visitors may check the most recent version of each brokercheck report at www.finra.org.

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