Michael Norton is the Subject of a Misrepresentation Investor Dispute

Michael Norton (CRD #: 2617985), a broker registered with David Lerner Associates, is the subject of an investor dispute. This disclosure appears on his BrokerCheck record, accessed on April 23, 2024. Keep reading if you have questions regarding his alleged conduct. 

Investor Disputes 

On March 7, 2024, an investor alleged that Michael Norton violated multiple FINRA rules and regulations. He allegedly misrepresented an unsuitable investment, specifically Spirit of America Energy Fund Class A. The investor is seeking $500,000. 

On September 3, 2021, an investor also alleged that Michael Norton recommended an unsuitable investment and misrepresented a security. The investor further alleged negligence. The dispute was settled for $108,408. 

Michael Norton has four other settled suitability disputes on his record. 

Misrepresentation 

FINRA Rule 2020 forbids the use of deceptive, manipulative, and otherwise fraudulent methods to influence the purchase and sale of securities. The misrepresentation or omission of material facts violates this rule.

FINRA Rule 2111 – Unsuitable Investments 

FINRA Rule 2111 defines suitable investments as securities that fit an investor’s profile. Investor profiles have information on the investor’s age, risk tolerance, tax status, investing experience, and financial goals. Investments that do not take these factors into account may be unsuitable. 

High Standards of Commercial Honor 

FINRA Rule 2010 holds brokers to high standards of commercial honor and just and equitable principles of trade. Violations of FINRA Rule 2020 and FINRA Rule 2111 also violate this rule. 

Background Information 

Michael Norton 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 7 General Securities Representative Examination 

He is a registered broker in 28 states and D.C. and is a registered investment adviser in New York. 

During his 27 years of experience, Michael Norton has registered with four firms: 

• David Lerner Associates (CRD #: 5397)
• Spirit of America Management (CRD #: 110023) 
• Meyers Pollock Robbins (CRD #: 13436) 
• Marlowe & Company (CRD #: 35733) 

Kurta Law Can Help 

If you have worked with Michael Norton and have concerns about your investments, do not hesitate to contact us at 877-600-0098 or email info@kurtalawfirm.com for a free consultation. 

For nearly 20 years, Kurta Law has advocated for investors 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. Do not let securities fraud go unchecked. Start your recovery process today.