Dawson James Sued For Breach Of Fiduciary Duty

Peter George Ruggiere of Boca Raton Florida a stockbroker currently registered with Dawson James Securities Inc. is the subject of a customer initiated investment related arbitration claim which was resolved for $10,000.00 in damages based upon accusations of misrepresentations concerning stock purchased for the customer’s account during the time that Ruggiere was associated with Dawson James Securities. Financial Industry Regulatory Authority (FINRA) Arbitration No. 20-00094 (June 8, 2020). According to the claim, a fiduciary duty that was owed to the customer had been breached and the stockbroker’s negligence resulted in the customer’s equities losses.

FINRA Public Disclosure reveals that Ruggiere has been identified in five more customer initiated investment related disputes containing allegations of his misconduct while employed by securities broker dealers including Dawson James, Josephthal Co. Inc. and Newbridge Securities Corp. Specifically, Ruggiere is the subject of a customer initiated investment related arbitration claim in which the customer was awarded compensatory damages based on Ruggiere being liable on the customer’s claims including that misrepresentations had been made by the stockbroker and that trades were effected in the customer’s account on an unsuitable and unauthorized basis. The customer’s account had apparently been churned by Ruggiere.

Another customer filed an investment related complaint concerning Ruggiere’s activities where the customer sought $75,000.00 in damages founded on accusations that the Newbridge Securities Corp customer’s account was churned by Ruggiere causing the customer to experience losses on equities. Ruggiere has also been identified in a customer initiated investment related written complaint where the customer requested $98,785.00 in damages based on allegations of unauthorized margin use and bad mutual funds trades in the customer’s account while Ruggiere was employed by Newbridge Securities Corp.

On November 7, 2017, a customer filed an investment related complaint pertaining to Ruggiere’s conduct in which the customer requested $34,869.00 in damages supported by allegations of misrepresentation between May of 2016 and November of 2017 during the period in which Ruggiere was employed by Dawson James. Ruggiere is also the subject of a customer initiated investment related arbitration claim in which the customer requested $80,013.13 in damages supported by allegations of excessive trading in the customer’s Dawson James account. FINRA Arbitration No. 18-02658 (July 30, 2018). According to the claim, misrepresentations had been made by the stockbroker. The claim also alleges that the customer received bad advice by Ruggiere as it concerned common and preferred stock transactions facilitated in the customer’s investment account.