David Hobson – Investor Alert
Galvin Legal is launching an investigation on behalf of investors who may have suffered losses investing with David Hobson. If you suffered losses investing with David Hobson, then Galvin Legal may be able to help you recover your losses in a Financial Industry Regulatory Authority (“FINRA“) arbitration claim.
David Hobson (CRD# 2448412)
Disclosure Events
06/03/2016 Civil – Pending
Initiated By UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Allegations:
SEC Litigation Release 23561, June 8, 2016: On June 3, 2016, the Securities and Exchange Commission charged two Rhode Island men with insider trading in the securities of deal targets being pursued by the pharmaceutical company where one of them worked. The SEC alleges that one of the individuals obtained confidential clinical and business data about other pharmaceutical firms being considered by his company for potential acquisitions and business relationships, and he used the nonpublic information to trade in their stocks. The individual made approximately $116,000 in illegal profits trading in such pharmaceutical companies as Medivation Inc., Ardea Biosciences, and Furiex Pharmaceuticals. The SEC further alleges that the individual illegally tipped his friend since childhood, stockbroker David P. Hobson, who utilized the nonpublic information to realize at least $187,000 in illicit trading profits for himself and $145,000 for his customers. The SEC’s complaint charges Hobson with violating Section 10(b) of the Securities Exchange Act of 1934 and Rule 10b-5.
06/03/2016 Investigation
Initiated By UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Description of Investigation:
SEC INITIATED A CIVIL COMPLAINT FOR ALLEGED INSIDER TRADING IN VIOLATION OF SECTION 10(B) OF THE SECURITIES EXCHANGE ACT 1934 AND RULE 10B-5.
05/20/2016 Criminal – Pending Charge
Charges: SECURITIES FRAUD
Charge Type: FELONY
Charges: ATTEMPT AND CONSPIRACY TO COMMIT WIRE FRAUD
Charge Type: FELONY
Charges: CONSPIRACY TO COMMIT SECURITIES FRAUD
Charge Type: FELONY
04/26/1987 Criminal – Final Disposition
Charges: LARCENY OVER $100.00
Disposition: LARCENY CHARGE DISMISSED AND MICROWAVE OVEN RETURNED
Current and Previous Registrations
04/2010 – 05/2016 OPPENHEIMER & CO. INC. (CRD# 249) – PROVIDENCE, RI
03/2002 – 05/2010 RBC CAPITAL MARKETS CORPORATION (CRD# 31194) – PROVIDENCE, RI
10/1994 – 03/2002 TUCKER ANTHONY INCORPORATED (CRD# 837) – BOSTON, MA
04/1994 – 10/1994 GRUNTAL & CO. INCORPORATED (CRD# 372) – NEW YORK, NY
02/1994 – 03/1994 DICKINSON & CO. (CRD# 689) – DES MOINES, IA
FINRA expelled the firm in 04/1998
FINRA requires brokerage firms to conduct due diligence on investments and to conduct a suitability analysis when recommending securities to a customer that takes into account the customer’s knowledge and experience. Brokerage firms that fail to conduct adequate due diligence or that make unsuitable recommendations can be held responsible for the customer’s losses in a FINRA arbitration claim.
If you suffered losses investing with David Hobson and would like a free consultation with a securities attorney, then please call Galvin Legal at 1-800-405-5117.
Galvin Legal is a national securities arbitration, mediation, fraud, and investor protection law practice. For more information on Galvin Legal, please visit www.galvinlegal.com or call 1-800-405-5117.
