Regulators banned Dennis Ayre from the securities industry on June 12, 2023. He failed to cooperate with regulatory investigations into his actions and defend allegations concerning his sale of unsuitable investments to his investors.
We have prosecuted claims on behalf of hundreds of investors over the past 20 years to recover losses for similar actions. Please contact us.
Ayre spent his career with numerous securities brokerage firms. Most recently he was with Hilltop, but has previously been with Oppenheimer, Merrill Lynch, and Wells Fargo.
The record of Dennis Ayre reveal that his employers have been the subjection of 12 lawsuits concerning the action of Ayre.
The first suit served in October 2019 sought $11 million in losses. The allegations were that Ayre sold unsuitable investments, took excessive risk and deviated from an agreed strategy. The resolution was a settlement of over $600,000.
Many similar allegations and settlements followed. In addition to suitability allegations, Ayer has also been accused of overconcentrating portfolios in Foresight Energy and Integrated Advisor Network.
Ultimately, the Financial Industry Regulatory Authority entered an arbitration judgment against Ayers. The award was for $322,648. The suit alleged that Ayers concentrated an investor in Foresight Energy. The arbitrators issued the award in December 2020. When Ayer refused to pay, regulators investigated his actions and when he did not defend he was barred from the securities industry.
The story of Dennis Ayre is common. Even though brokers sometimes do not pay their employers are still responsible for their actions. We help investors obtain recovery from both brokers and their employers.