David Cooper Named in SEC Civil Suit

David Cooper (CRD #: 5357930), a broker formerly registered with Joseph Gunnar & Company, is involved in a pending SEC civil complaint, according to his BrokerCheck record, accessed on February 25, 2025. If you have questions about his alleged conduct as a broker, keep reading.

SEC Civil Suit

On January 15, 2025, the Securities and Exchange Commission filed a civil complaint against David Cooper; John Lowe, Jr.; Randy Grewal; Richard Ringel; JJL Capital LLC; Great South Bay Capital, LLC; Kierland Capital, LLC; and BMEN Trading, LLC.

Alleged Sharing of Nonpublic Information

The complaint alleges that David Cooper and a broker identified as Representative A, as employees of the same brokerage firm (“the Firm”), engaged in a quid pro quo arrangement with securities traders John Lowe and Richard Ringel, who held accounts at this firm.

David Cooper and Representative A allegedly provided one or both of these traders with material, nonpublic information concerning the timing and/or price of follow-on stock offerings made by public companies prior to this information being publicly released.

This allegedly violated Firm policies prohibiting employees from sharing this information without authorization. John Lowe and Richard Ringel allegedly used this information to short the stocks of certain companies before the public announcement of their follow-on offerings through several LLCs.

Sales Credit Allegations

David Cooper and Representative A allegedly received the material, non-public information they shared from employees at underwriting firms that partnered with a selling syndicate to sell allocations of shares of these stocks. The Firm allegedly participated in this selling syndicate with regard to certain offerings.

John Lowe and Richard Ringel allegedly agreed to buy shares of the offerings which the Firm was involved with via this syndicate, generating sales credits paid by the underwriters to the Firm.

The firm allegedly earned approximately $1 million in sales credits, a significant fraction of which were allegedly paid to David Cooper and Representative A.

This civil complaint is currently pending.

Background Information

David Cooper has passed the following exams:

• Securities Industry Essentials Examination – SIE
• General Securities Representative Examination – Series 7
• Uniform Securities Agent State Law Examination – Series 63

He previously worked for Joseph Gunnar & Company (CRD#:24795).

Kurta Law Can Help

If you worked with David Cooper and you have concerns about your investments, please contact us today at 877-600-0098 or info@kurtalawfirm.com for a free consultation.

For over 20 years, Kurta Law has advocated on behalf of investors who want to recover their investment losses from brokers and brokerage firms. Kurta Law is a nationally recognized law firm that exclusively represents investors against brokers and brokerage firms on a contingency basis. This means that the firm only earns a fee if our securities attorneys recover money on your behalf.