Richard Eden Allegedly Misrepresented Energy 12 Investment
Richard Eden (CRD# 2145727), a broker registered with David Lerner Associates, recommended unsuitable Energy 12 investments, according to a pending dispute. MDF Law is investigating the Lawrenceville, New Jersey-based financial professional for similar conduct. Current or former clients with concerns about their accounts should contact us for a free consultation.
More information about the disputes involving Mr. Eden follows below. This post is sourced from his BrokerCheck record, a Financial Industry Regulatory Authority profile reviewed on November 27, 2024.
Pending Dispute Alleges Unsuitable Energy 12 Investment
On September 30, 2024, an investor filed a dispute alleging that Mr. Eden breached his fiduciary duty, misrepresented and omitted material information, and recommended an unsuitable investment in Energy 12. The dispute, which is still pending, seeks alleged damages of $95,000.
Past Dispute Also Involved Energy 12
The above-described pending investor dispute is not the only one in Mr. Eden’s record. On July 16, 2024, another investor lodged a dispute alleging that he misrepresented and recommended an unsuitable investment in Energy 12. On October 31, 2024, his member firm settled the dispute for $13,350.
Understanding FINRA Rule 2020
Misrepresentation occurs when registered representatives give their clients false or misleading information about an investment recommendation. Generally speaking, the misrepresentation of material facts violates FINRA Rule 2020. This rule forbids brokers from employing “any manipulative, deceptive or other fraudulent device or contrivance” as they effect securities trades. Misrepresentations can lead investors to make unsuitable investments, which may in turn expose them to the risk of significant losses.
FINRA: Broker Based in Lawrenceville, New Jersey
Mr. Eden started working as a broker in 1991, when he joined David Lerner Associates. He remains at the firm today, working at its office in Lawrenceville, New Jersey. Boasting 33 years of experience as a broker, he has completed three industry exams, including the Series 7 and the Series 63.
Energy 12 Losses? Speak to an Attorney for Free
If you lost money on Energy 12 or other investments recommended by Richard Eden, you may have recovery options. MDF Law’s experienced investor advocates have secured more than $100 million in recoveries for their clients. We only receive a fee if you win your case, which you may have a limited time to file. Call us today at 800-767-8040 for a free consultation today.