Michael Robert Greenfield, Broker with Newbridge Securities, Named in Multiple Customer Disputes Alleging Negligence

Greenfield has been the subject of five settled customer disputes in the past five years.

Michael Robert Greenfield (CRD: 5406611) is registered as a broker with Newbridge Securities where he has been employed since 2017. Previously, Greenfield was registered as a broker at Oppenheimer & Co. from 2013 until 2016.

Greenfield has ten disclosures on his BrokerCheck report.

January 2020 Customer Dispute

• Status: Settled
• Allegations: Claimant asserts claims of negligence, negligent supervision, breach of contract, breach of fiduciary duty and violation of FINRA Rules relating to purchase of a master limited partnership. Time period – 10/27/2014 to 9/30/2016.
• Damage Amount Requested: $100,000.00
• Settlement Amount: $37,500.00
• Broker Comment: The customer(s) in this matter make no allegation of wrongdoing on my part. The Statement of Claim states that the customer(s) do not hold me personally responsible for their alleged losses. Both the customer(s) and I received the same misinformation at issue in this matter. This complaint is reflected on my record only because I was the customer(s)’ registered representative of record at the relevant time. I plan to seek expungement of this complaint as soon as the matter has concluded.

January 2020 Customer Dispute

• Status: Settled
• Allegations: Claimant asserts claims of negligence, negligent supervision, breach of contract and violation of FINRA Rules relating to purchases of two master limited partnerships and Puerto Rico bonds. Time period – 11/1/2013 to 7/30/2016.
• Damage Amount Requested: $100,000.00
• Settlement Amount: $18,750.00
• Broker Comment: The customer(s) in this matter make no allegation of wrongdoing on my part. The Statement of Claim states that the customer(s) do not hold me personally responsible for their alleged losses. Both the customer(s) and I received the same misinformation at issue in this matter. This complaint is reflected on my record only because I was the customer(s)’ registered representative of record at the relevant time. I plan to seek expungement of this complaint as soon as the matter has concluded.

January 2019 Customer Dispute

• Status: Settled
• Allegations: Claimant asserts claims of negligence, negligent supervision, breach of contract and breach of fiduciary duty relating to purchase of master limited partnerships from 1/1/2014 to unspecified.
• Damage Amount Requested: $200,000.00
• Settlement Amount: $75,000.00
• Broker Comment: The customer(s) in this matter make no allegation of wrongdoing on my part. The Statement of Claim states that the customer(s) do not hold me personally responsible for their alleged losses. Both the customer(s) and I received the same misinformation at issue in this matter. This complaint is reflected on my record only because I was the customer(s)’ registered representative of record at the relevant time. I plan to seek expungement of this complaint as soon as the matter has concluded.

June 2017 Customer Dispute

• Status: Settled
• Allegations: Claimant alleged unsuitability and misrepresentation with respect to municipal and corporate bonds – 2013
• Damage Amount Requested: $147,334.00
• Settlement Amount: $26,000.00

December 2016 Customer Dispute

• Status: Settled
• Allegations: Client alleges security was misrepresented to him, no time period specified, but security purchased during November 2014.
• Settlement Amount: $10,000.00

July 2015 Financial Event

• Status: Final
• Type: Bankruptcy
• Disposition: Discharged

April 2015 Customer Dispute

• Status: Settled
• Allegations: Client alleges [FA] recommended unsuitable investments during the period August 2012 and February 2013.
• Damage Amount Requested: $50,000.00
• Settlement Amount: $15,000.00

August 2014 Customer Dispute

• Status: Settled
• Allegations: Claimant alleges, inter alia, that beginning in August 2013 the FA breached his fiduciary duty to the client by recommending an unsuitable investment. 
• Damage Amount Requested: $61,678.56
• Settlement Amount: $35,000.00
• Broker Comment: In order to avoid the costs of uncertainties of litigation, Morgan Stanley agreed to pay claimant $35,000.00 in full and final settlement of any and all claims asserted by Claimant in this proceeding. Registered representative received an unsolicited order from a new client to purchase a municipal bond. Registered representative did not solicit the client or recommend the municipal bond that was purchased.

September 2013 Customer Dispute

• Status: Settled
• Allegations: Client alleges unsuitability with respect to purchase of PR Bonds in August 2013.
• Settlement Amount: $5,940.07

February 1998 Criminal Judgment

• Status: Final Disposition
• Charges: 1-Assault/Agg/Weapon 2-Felony 3-Not guilty 4-No
• Charge Type: Felony
• Disposition: No contest-Withhold adjudication-B.6/04/1998 C. Court Costs-2 Days Probation E. 06/28/1998 F. $408.00 G. 06/04/1998

Contact Us Today

The Sonn Law Group is currently investigating allegations surrounding Michael Robert Greenfield. 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.