Public records published by the Financial Industry Regulatory Authority (FINRA) on April 20, 2017 indicate that former Massachusetts-based Liberty Tree Advisors broker David Stone has been sanctioned by FINRA and suspended from acting as a broker. Fitapelli Kurta is interested in speaking to investors who have complaints regarding Mr. Stone (CRD# 2786995).
David Stone has spent eleven years in the securities industry and was most recently registered with Liberty Tree Advisors in Acton, Massachusetts (2007-2017). Previous registrations include Collins Stewart in New York, New York; SG Cowen Securities Corporation in New York, New York; and Cowen & Company in New York, New York. He is currently not registered with any state or firm.
According to his BrokerCheck report, David Stone has received one FINRA sanction.
In April 2017 FINRA sanctioned him following allegations he failed to reasonably supervise the private securities transactions of a registered representative at his member firm. FINRA’s findings state further: “the representative and two partners created a fund to raise capital for investment in commercial and industrial real estate associated with the legal cannabis industry in Colorado (the “Fund”). Stone discussed the Fund with the representative and was aware that the representative was seeking to raise capital through the sale of limited partnership interests in the Fund. Despite this awareness, Stone mistakenly determined that the representative’s sale of interests in the Fund did not involve private securities transactions that required his supervision. The representative raised approximately $1.4 million in investments in the Fund from approximately seven investors. Because Stone considered the Fund an outside business activity and not private securities transactions, Stone did not supervise the representative’s sale of interests in the Fund and the Fund’s transactions were not recorded on the firm’s books and records.” He was issued a two-month suspension and a fine of $5,000.
If you or someone you know has lost money investing with David Stone, call Fitapelli Kurta at 877-238-4175 for a free consultation. You may be eligible to recoup your losses. Fitapelli Kurta accepts all cases on a contingency basis: we only get paid if and when you collect money. Time to file your claim may be limited by law, so we encourage you to avoid delay. Call 877-238-4175 now to speak to an attorney for free.