Securities Lawyers Blog
According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Daniel Drew (Drew), previously associated with North Capital Private Securities Corporation, has at least one disclosable event. These events include one customer complaint, alleging that Drew 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 $295,000.00 on March 25, 2024.
In their Statement of Claim, as amended, Claimants [REDACTED] (‘REDACTED]’), [REDACTED] (‘[REDACTED]’) and [REDACTED] (‘[REDACTED]’) allege failure to supervise, unsuitable investment recommendations, breach of fiduciary duty and violation of federal and state securities laws in connection with alleged events occurring after [REDACTED], Orion Magnetar Asset Management, LLC’s (entity of [REDACTED]) and Rogers Software Development, Inc. (entity of [REDACTED]) investment in two real estate offerings. [REDACTED] invested $70,000 in FRF 348 Quincy, LLC on March 25, 2018, Orion Magnetar Asset Management, LLC invested $50,000 in FRF 348 Quincy, LLC on April 8, 2018 and $75,000 in FRF 1555 Pacific, LLC on January 5, 2019 and Rogers Software Development, Inc. invested $100,000 in FRF 348 Quincy, LLC on April 13, 2018. Daniel Drew was an associated person and registered representative of the Firm from October 23, 2017 until April 1, 2022. Claimants’ allegations against the Firm are primarily based on allegations of various wrongdoings by the companies managing the underlying properties invested in by FRF 348 Quincy, LLC and FRF 1555 Pacific, LLC, XYZ Group and Cassaforte Limited. It is the Firm’s understanding that XYZ Group and Cassaforte Limited are currently in separate litigation of which the Firm has no part.