Raymond Louis Dirks (CRD #601699, Registered Representative, New York, New York) submitted an Offer of Settlement in which he was fined $25,000 and suspended from association with any NASD member in any capacity for 30 days. Without admitting or denying the allegations, Dirks consented to the described sanctions and to the entry of findings that he wrote research reports that contained "Strong Buy" recommendations that did not define what was meant by a "Strong Buy," and did not disclose any risks that could impede the achievement of targets or estimates. The findings also stated that Dirks failed to disclose in a report that company auditors had issued a going concern on the company before the issuance of the report. NASD also found that in one report Dirks failed to disclose that his member firm was a market maker in the company's securities at the time the report was published. In addition, NASD found that reports omitted material facts and included price target projections and revenue estimates that were exaggerated, unwarranted, misleading, and without a legitimate basis, and forecast events that were unwarranted in light of the speculative nature of the company's business.
Did Raymond Louis Dirks manage your investments?
stockbroker-fraud.com |
