Publicly available records published by the Financial Industry Regulatory Authority (FINRA) and accessed on January 8, 2018 indicate that California-based Kovack Securities broker/adviser Douglas Lagerstrom has received a customer dispute. Fitapelli Kurta is interested in speaking to investors who have complaints regarding Mr. Lagerstrom (CRD# 2177433).
Douglas Lagerstrom has spent 26 years in the securities industry and has been registered with Kovack Securities in Woodland Hills, California since 2008. Previous registrations include Morgan Peabody in Woodland Hills, California (2007-2008); Brookstreet Securities Corporation in Woodland Hills, California (1995-1996); Great Western Financial Securities Corporation in Northridge, California (1992-1995); and Baraban Securities in Los Angeles, California (1992). He has passed four securities industry examinations: Series 65 (Uniform Investment Adviser Law Examination), which he obtained on February 13, 1996; Series 63 (Uniform Securities Agent State Law Examination), which he obtained on November 8, 1991; Series 7 (General Securities Representative Examination), which he obtained on November 1, 1991; and Series 24 (General Securities Principal Examination), which he obtained on May 11, 1995. He is a registered broker and investment adviser with 12 US states and territories: Arizona, California, Colorado, Florida, Hawaii, Idaho, Kansas, Nevada, Oregon, Tennessee, Virginia and Washington. He is registered with two self-regulatory organizations (SROs): FINRA and the Nasdaq Stock Market.
According to his BrokerCheck report, he has received one customer complaint and one customer complaint that was closed.
In October 2017 a customer alleged Douglas Lagerstrom, while employed at Kovack Securities, recommended an unsuitable Hospitality Investors Trust Inc. real estate investment trust (REIT). The customer sought $18,000 in damages in the complaint, which was closed with no action taken.
In 2014 a customer alleged Douglas Lagerstrom, while employed at Brookstreet Securities, recommended and sold tenant-in-common investments that were unsuitable for seniors. The complaint settled for $250,000.
If you have lost money investing with Douglas Lagerstrom, you may be able to recover your losses. Call Fitapelli Kurta at 877-238-4175 for a free consultation. All cases are taken on a contingency basis: Fitapelli Kurta only gets paid if and when you collect funds. Time to file your claim may be limited, so we encourage you to avoid delay. Call 877-238-4175 now to speak to an attorney for free.