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Investor Alleges David Donovan Misrepresented Hedge Fund Purchase

David Donovan (CRD #: 1294119), a broker registered with Morgan Stanley, allegedly misrepresented the purchase of an investment, according to his BrokerCheck record, accessed on March 7, 2023. If you want to know more about his alleged conduct as a broker, read on.

Investor Dispute

On December 14, 2022, an investor alleged that David Donovan misrepresented the purchase of a hedge fund in 2013. This dispute is currently pending. Hedge funds can be risky investments because they are private and are therefore not subject to the same regulations as regular stocks. Investors who unexpectedly lost money on a hedge fund may have a case for a securities lawyer. 

FINRA Rule 2020

FINRA Rule 2020 bans the use of deception, manipulation, and other fraudulent means of influencing investors’ decisions. This includes the misrepresentation or omission of information related to investments, such as their potential fees, risks, or returns.

Background Information

David Donovan has passed the following exams:

  • Series 65 – Uniform Investment Adviser Law Examination
  • Series 63 – Uniform Securities Agent State Law Examination
  • SIE – Securities Industry Essentials Examination
  • Series 31 – Futures Managed Funds Examination
  • Series 7 – General Securities Representative Examination

David Donovan is a registered broker in 37 states and the District of Columbia. He is also a registered investment adviser in Connecticut, New York, and Texas.

He has also worked for Citigroup Global Markets (CRD#:7059) and Merrill Lynch Pierce Fenner & Smith (CRD#:7691).

Kurta Law Can Help

If you worked with David Donovan 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 and 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. 

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