Investors Bring FINRA Arbitration Claim Against Dawson James For Breach Of Fiduciary Duty
Dominic Joseph Linsalata Jr. of Boca Raton Florida a stockbroker currently registered with Dawson James Securities is the subject of a customer initiated investment related arbitration claim where the customer requested $670,237.00 in damages founded on allegations of elder abuse and breach of contract by Linsalata when Linsalata was associated with Dawson James Securities. Financial Industry Regulatory Authority (FINRA) Arbitration No. 20-00369 (Feb. 13, 2020).
According to the claim, a fiduciary duty that was owed to the customer had been breached and Linsalata’s negligence resulted in the customer’s losses. The claim alleges that investment recommendations and securities transactions were unsuitable. Misrepresentations had allegedly been made to the customer by Linsalata as it concerned common and preferred stock as well as direct investments including direct participation program interests or limited partnership interests.
FINRA Public Disclosure confirms that Linsalata has been identified in two more customer initiated investment related disputes regarding accusations of his misconduct while he was employed by Dawson James. On March 3, 2017, a customer initiated investment related arbitration claim regarding Linsalata’s conduct was settled for $175,000.00 in damages based upon allegations that the customer had been sold private placements and equities which were not suitable for the Dawson James customer and which had led to losses. FINRA Arbitration No. 15-02669.
Linsalata is referenced in another customer initiated investment related arbitration claim in which the customer sought $80,013.13 in damages supported by accusations that transactions were not appropriate for the customer. FINRA Arbitration No. 18-02658 (July 30, 2018). According to the claim, trades were effected in the customer’s account on an excessive basis. Misrepresentations had allegedly been made to the customer by the stockbroker between April of 2013 and April of 2018.
Linsalata has been employed by Dawson James since September 27, 2019.