Dennis Daniel Herrera, Broker with Aegis Capital, Facing Pending Customer Dispute Alleging Various Forms of Misconduct

INVESTORS: Aegis Capital broker Dennis Daniel Herrera was named in a customer dispute alleging unsuitability, breach of contract, and breach of fiduciary duty.

Dennis Daniel Herrera (CRD: 4618370) is registered as a broker with Aegis Capital, where he’s been employed since 2016. Previously, Herrera was registered as a broker with Laidlaw & Company from 2014 to 2016.

Herrera has five disclosures on his BrokerCheck report. 

March 2020 Customer Dispute

• Status: Pending
• Allegations: Time frame: unspecified. Claimant alleges unsuitability, breach of contract, and breach of fiduciary duty.
• Damage Amount Requested: $139,399.00
• Broker Comment: This case was instigated by the nefarious non-attorney representative arbitration mill. Each of my recommendations was consistent with the financial condition, risk tolerance and speculation-oriented investment objective stipulated by the customer in their account application. The two customers in question authorized and directed each trade. Each commission was within FINRA’s established guideline.

March 2015 Customer Dispute

• Status: Settled
• Allegations: Unsuitable investments
• Damage Amount Requested: $30,500.00
• Settlement Amount: $14,500.00
• Broker Comment: I begrudgingly settled this matter for less than the anticipated costs of defense without any admissions of liability. The claims advanced were without merit.

February 2013 Customer Dispute

• Status: Settled
• Allegations: During 2008-2009 customer alleges (1) excessive and unsuitable trading strategy and (2) misrepresentation of private placement. Current employer does not have copy of complaint. Disclosure is based on what John Thomas Financial disclosed in amended Form U5.
• Damage Amount Requested: $1,350,000.00
• Settlement Amount: $25,000.00
• Broker Comment: Confronted with costs associated with multi-day out of state arbitration hearing, I opted to be economically practical and settled this matter for less than the anticipated costs of defense with no admission of liability.

October 2007 Customer Dispute

• Status: Settled
• Allegations: Client alleges that he never authorized a stop loss order to be entered.
• Damage Amount Requested: $11,665.00
• Settlement Amount: $8,628.55

February 2013 Customer Dispute

• Status: Settled
• Allegations: 09/05/2004 TO 8/12/2005 Client feels commissions overcharged in light of account lost value.
• Damage Amount Requested: $47,000.00
• Settlement Amount: $40,000.00
• Broker Comment: Amended per NASD request. RR was not named in complaint. This account was in a joint rep #. Settlement was paid by other rep.

Contact Us Today

The Sonn Law Group is currently investigating allegations surrounding Dennis Daniel Herrera. We represent investors in claims against negligent brokers and brokerage firms. If you or your loved one experienced investment losses, we are here to help. For a free consultation, please call us now at 866-827-3202 or complete our contact form.