Aegis Sued By Investors For Defective Investment Advice
Kevin Thomas Doyle of Mineola New York a stockbroker formerly associated with Aegis Capital Corp and Newbridge Securities Corp has been referenced in a customer initiated investment related arbitration claim in which the customer requested $125,000.00 in damages supported by allegations that alternative investment recommendations made by Doyle had failed to be suitable as they did not align with the customer’s objectives for investing. Financial Industry Regulatory Authority (FINRA) Arbitration No. 19-03653 (Dec. 16, 2019). According to the claim, contractual obligations had been breached and a fiduciary duty was violated by Doyle. The claim also alleges that Doyle’s negligence resulted in the customer losses at Newbridge Securities Corp and Aegis Capital Corp.
Doyle has been identified in two additional customer initiated investment related disputes containing allegations of his misconduct. FINRA Public Disclosure reveals that a customer initiated investment related arbitration claim involving Doyle’s conduct was settled for $8,500.00 in damages based upon allegations that unauthorized transactions were effected in the customer’s account and that the customer had been defrauded by Doyle through his activities at GKN Securities Corp., Ernst Co., Investec and Cambridge Capital LLC. According to the claim, misleading representations and omissions had been made by the stockbroker concerning the sale of warrants. The claim alleges that transactions effected by Doyle were not suitable for the customer and that his negligence resulted in the customer’s losses.
Another customer filed an investment related arbitration claim in reference to Doyle’s conduct where the customer sought $53,336.64 in damages based upon accusations that over-the-counter equities transactions effected by Doyle had failed to be appropriate for the GKN Securities customer and had resulted in the customer’s losses. Doyle was terminated by GKN Securities based upon accusations of his use of altered documents.
Doyle’s employment with Newbridge Securities Corp was terminated on April 28, 2016. The stockbroker has been employed by Aegis Capital Corp since September 1, 2017.