Understanding Your Rights with Investment Losses: The Case of Broker David McMillen
At Meyer Wilson, we understand that navigating the complexities of investment losses can be challenging and overwhelming. If you’ve suffered investment losses with with broker David McMillen, who has been associated with Crown Capital Securities, L.P. in Boulder, Colorado since 2003, you might be wondering about your legal options. McMillen’s registration history and the customer complaints against him raise concerns.
We Have Recovered Over
$350 Million for Our Clients Nationwide.
Customer Complaints Against David McMillen
Throughout his career, David McMillen has faced several customer complaints. While one of these was denied, the nature and consistency of the allegations against him are troubling:
- April 2023: A recent claim involves allegations of unsuitability, breach of fiduciary duty, and negligence related to the purchase of alternative investments. The customer is currently seeking $125,000 in damages, with direct investments, non-traded business development companies (BDCs), and non-traded real estate investment trusts (REITs) at the center of the dispute.
- March 2018: A client contended that the investment products sold to her were unsuitable and suffered from limited liquidity. Originally seeking $5,000 in damages, the case reached a settlement of $250,000. This complaint focused on direct investments and equipment leasing.
- December 2017: In this instance, a client alleged that they were unable to liquidate their investments or ascertain their value, leaving them unable to determine their financial position. The sought damages amounted to $20,000,000, with a settlement of $1,500,000 eventually agreed upon. The investments in question involved direct investments and oil and gas ventures.
According to FINRA Rules, brokerage firms must properly supervise their brokers’ activities while registered. As such, Crown Capital Securities, L.P. may be accountable for the investment losses incurred by McMillen’s customers.
At Meyer Wilson, we advocate for investors across the United States who have fallen victim to broker misconduct and investment firm negligence. Our experience in handling claims against brokers and brokerage firms positions us as a valuable ally in your pursuit to recover investment losses.
If you have suffered investment losses with broker David McMillen, Meyer Wilson is here to offer you a way forward. Please reach out to us at 866-938-2021 for a complimentary consultation. Alternatively, you can visit our website at investorclaims.com to fill out our contact form.
Written by: Courtney Werning, Esq.
Recovering Losses Caused by Investment Misconduct.