Securities Lawyers Blog
According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker David Geake (Geake), previously associated with American Trust Investment Services, INC., has at least one disclosable event. These events include one customer complaint, alleging that Geake recommended unsuitable investments in different investment products including debt securities among other allegations and complaints.
FINRA BrokerCheck shows a pending customer complaint with a damage request of $162,000.00 on June 20, 2025.
Claimants [REDACTED] & [REDACTED} and [REDACTED] and [REDACTED] allege that during May through August 2021, David Geake misrepresented the risk of MCloud stock, resulting in losses totaling $162,000. Among the allegations are breach of written contract pursuant to the customer agreements; breach of fiduciary duty of failing to act in Claimants’ best interests, to deal fairly and honestly with the Claimants, to observe fair business practices and equitable principles of trade as embodied in the standards of the securities industry, FINRA Rules, and Respondent’s own internal policies, to make only suitable investments and not to knowingly or negligently make material misrepresentations and omissions to Claimants; failure to supervise by neglecting its duty to properly supervise and control its agents pursuant, but not limited, to Section 20(a) of the 1934 Securities and Exchange Act, FINRA Rule 3111, and Section 342 of the NYSE Rules; negligence and gross negligence; misrepresentations and omissions, violation of FINRA Rules, violation of the federal securities laws, and violation of the Best Interest Obligations (Reg B1).