INVESTORS: Former National Securities Corporation broker Mark Alan Cline is facing multiple customer disputes alleging that he recommended unsuitable investments in GWG Holdings L Bonds.
Mark Alan Cline (CRD#: 3206962) was registered as a broker with National Securities Corporation from 2014 until 2022. Previously, Cline was registered as a broker with Great Nation Investment Corporation from 2010 until 2013.
Cline has seventeen disclosures on his BrokerCheck report. One disclosure relates to a criminal charge against Cline from 1985.
July 2022 Customer Dispute
Status: Pending
Allegations: Claimants allege investment in GWG was not suitable and the representatives failed to properly disclose the risk
Damage Amount Requested: $55,000.00
May 2022 Customer Dispute
Status: Pending
Allegations: Alleging suitability problems with an options investment strategy
Damage Amount Requested: $500,000.00
May 2022 Customer Dispute
Status: Pending
Allegations: Alleging unsuitable investment in GWG Holdings L Bonds
Damage Amount Requested: $90,000.00
June 2021 Customer Dispute
Status: Pending
Allegations: Suitability
Damage Amount Requested: $100,000.00
Broker Comment: Registered Representative denies all allegations and intends to vigorously defend against all of the claimant’s claims.
December 2019 Customer Dispute
Status: Settled
Allegations: Suitability
Damage Amount Requested: $50,000.00
Settlement Amount: $20,000.00
Broker Comment: On the advice of Counsel this claim was settled to avoid the protracted cost of arbitration and legal fees. This claim was settled in conjunction with multiple claims related to the same product offering. The Registered Representative did not contribute to the settlement and intends to seek expungement of this matter.
December 2019 Customer Dispute
Status: Pending
Allegations: Suitability
Damage Amount Requested: $400,000.00
Broker Comment: Registered Representative denies all allegations and intends to vigorously defend against all of the claimant’s claims.
December 2019 Customer Dispute
Status: Settled
Allegations: Suitability
Damage Amount Requested: $450,000.00
Settlement Amount: $20,000.00
Broker Comment: On the advice of Counsel this claim was settled to avoid the protracted cost of arbitration and legal fees. This claim was settled in conjunction with multiple claims related to the same product offering. The Registered Representative did not contribute to the settlement and intends to seek expungement of this matter.
December 2019 Customer Dispute
Status: Settled
Allegations: Suitability
Damage Amount Requested: $175,000.00
Settlement Amount: $20,000.00
Broker Comment: On the advice of Counsel this claim was settled to avoid the protracted cost of arbitration and legal fees. This claim was settled in conjunction with multiple claims related to the same product offering. The Registered Representative did not contribute to the settlement and intends to seek expungement of this matter.
December 2019 Customer Dispute
Status: Settled
Allegations: Suitability
Damage Amount Requested: $75,000.00
Settlement Amount: $25,000.00
Broker Comment: On the advice of Counsel this claim was settled to avoid the protracted cost of arbitration and legal fees. This claim was settled in conjunction with multiple claims related to the same product offering. The Registered Representative did not contribute to the settlement and intends to seek expungement of this matter.
December 2019 Customer Dispute
Status: Settled
Allegations: Suitability
Damage Amount Requested: $100,000.00
Settlement Amount: $30,000.00
Broker Comment: On the advice of Counsel this claim was settled to avoid the protracted cost of arbitration and legal fees. This claim was settled in conjunction with multiple claims related to the same product offering. The Registered Representative did not contribute to the settlement and intends to seek expungement of this matter.
December 2019 Customer Dispute
Status: Settled
Allegations: Suitability
Damage Amount Requested: $285,000.00
Settlement Amount: $20,000.00
Broker Comment: On the advice of Counsel this claim was settled to avoid the protracted cost of arbitration and legal fees. This claim was settled in conjunction with multiple claims related to the same product offering. The Registered Representative did not contribute to the settlement and intends to seek expungement of this matter.
December 2019 Customer Dispute
Status: Settled
Allegations: Suitability
Damage Amount Requested: $100,000.00
Settlement Amount: $35,000.00
Broker Comment: On the advice of Counsel this claim was settled to avoid the protracted cost of arbitration and legal fees. This claim was settled in conjunction with multiple claims related to the same product offering. The Registered Representative did not contribute to the settlement and intends to seek expungement of this matter.
December 2019 Customer Dispute
Status: Settled
Allegations: Suitability
Damage Amount Requested: $162,000.00
Settlement Amount: $50,000.00
Broker Comment: On the advice of Counsel this claim was settled to avoid the protracted cost of arbitration and legal fees. This claim was settled in conjunction with multiple claims related to the same product offering. The Registered Representative did not contribute to the settlement and intends to seek expungement of this matter.
December 2019 Customer Dispute
Status: Settled
Allegations: Suitability
Damage Amount Requested: $200,000.00
Settlement Amount: $38,500.00
Broker Comment: On the advice of Counsel this claim was settled to avoid the protracted cost of arbitration and legal fees. This claim was settled in conjunction with multiple claims related to the same product offering. The Registered Representative did not contribute to the settlement and intends to seek expungement of this matter.
December 2019 Customer Dispute
Status: Settled
Allegations: Suitability
Damage Amount Requested: $75,000.00
Settlement Amount: $25,000.00
Broker Comment: On the advice of Counsel this claim was settled to avoid the protracted cost of arbitration and legal fees. This claim was settled in conjunction with multiple claims related to the same product offering. The Registered Representative did not contribute to the settlement and intends to seek expungement of this matter.
December 2019 Customer Dispute
Status: Settled
Allegations: Suitability
Damage Amount Requested: $800,000.00
Settlement Amount: $250,000.00
Broker Comment: On the advice of Counsel this claim was settled to avoid the protracted cost of arbitration and legal fees. This claim was settled in conjunction with multiple claims related to the same product offering. The Registered Representative did not contribute to the settlement and intends to seek expungement of this matter.
If you have any information about Mark Alan Cline that you would like to share or discuss, please call our firm for a confidential consultation. 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.
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