August 13, 2022

Volume XII, Number 225


David B. Cosgrove

Mr. Cosgrove represents financial professionals and entities throughout the nation.  He has obtained over $8 million in Awards and settlements for his adviser clients in U-5/tortious interference cases in just the last 7 years.  He also assists advisers and broker-dealers with regulatory inquiries, investigations, and audits.  Beyond the financial industry, he is an award winning trial attorney with a focus on commercial, defamation, and serious injury litigation.

Some of these results include:

  • Obtained over $3.3 million for an investment adviser and compliance officer on U-5 defamation and business interference claims in a FINRA arbitration.
  • Successfully represented an SEC whistleblower inside a large national broker-dealer.
  • Obtained a pre-filing settlement for a compliance officer related to retaliation claims.
  • Negotiated a settlement for a physician-investor on breach of fiduciary duty claims against a SEC-registered Investment Adviser.
  • Represented multiple employees defending themselves against the aggressive enforcement of non-compete agreements and other post-employment restrictive covenants.
  • Defended a Chief Financial Officer indicted for mail and wire fraud in furtherance of an alleged embezzlement scheme.
  • Co-counseled plaintiffs in a complex personal-injury birth defect suit that ultimately settled for over $5 million.
  • Represented a financial adviser against his former broker-dealer in a FINRA arbitration which resulted in a $600,000 award and full expungement of the broker's professional disclosure record on behalf of the financial adviser.
  • Quickly negotiated a half million-dollar settlement with a national broker-dealer for breach of fiduciary duty and fraudulent concealment.
  • Represented a financial adviser against his former broker-dealer in a FINRA arbitration which resulted in a $3.25 million Award for the financial adviser and a full dismissal of the broker-dealer's $10 million counterclaim.
  • Quickly negotiated a $2.4 million-dollar settlement with a national insurance company for an employer baited into an IRS-listed §419 employee benefit plan.
  • Litigated the dismissal of a $900,000 lawsuit against a client and the payment of $250,000 to the Cosgrove Law Group, LLC client.
  • Obtained payments for numerous clients from various broker-dealers and investment representatives for providing fraudulent or negligent investment advice, churning, and unauthorized transactions in client accounts.
  • Obtained the complete dismissal of a corporate officer and brokers in a multi-million-dollar regulatory enforcement matter regarding the marketing of auction rate securities.
  • Defended a client indicted for conspiring with a government agent to defraud the United States Government.
  • Defended the President and CEO of a national mortgage broker company facing a federal prosecution regarding taxes and alleged bank fraud.
  • Negotiated settlements on various state regulatory enforcement actions on behalf of his brokerage and precious metals industry clients.
  • Provided expert witness analysis for Plaintiffs in securities litigation in areas such as §1035 real estate exchanges, TIC interests, private placements, and IRA’s.
  • Prevailed over FINRA’s opposition on brokers' MC400 applications before the National Adjudicatory Council.

Articles in the National Law Review database by David B. Cosgrove