Investor Lawsuit Investigation – Michael Whitaker
The White Law Group is investigating potential securities claims involving Michael Leonard Whitaker (also known as Mike Leonard Whitaker) (CRD# 1739854). Whitaker, a registered broker and investment adviser, is currently affiliated with Newbridge Securities Corporation (CRD#: 104065) in The Villages, Florida, and NFSG Corporation (CRD#: 130814). According to FINRA BrokerCheck, Whitaker has been in the securities industry for more than 21 years and has been registered with six different firms during his career.
Whitaker’s BrokerCheck report reveals 12 customer disputes, many of which were settled in recent years for substantial amounts. These disclosures raise concerns about potential misconduct, supervisory lapses, and the suitability of his investment recommendations.
Customer Complaints Against Michael Whitaker
Whitaker has been the subject of multiple investor complaints, including:
- June 18, 2025 – Customer dispute settled for $26,000 after clients alleged financial losses related to investment recommendations.
- May 9, 2025 – Customer dispute settled for $35,000 for similar allegations.
- April 15, 2025 – Customer alleged breach of fiduciary duty and negligence, requesting $27,000 in damages. The case settled for $14,999.
- December 9, 2024 – Dispute settled for $21,000 involving fiduciary duty and negligence allegations.
- May 21, 2024 – Case alleging breach of fiduciary duty, breach of contract, failure to supervise, negligence, and Reg BI violations. Settled for $14,999.
- April 18, 2024 – Similar allegations including negligence and Reg BI. Settled for $17,500.
- February 23, 2024 – Investor alleged breach of contract, fiduciary duty, and negligent supervision, requesting $400,000. Case settled for $62,500.
- February 5, 2024 – Allegations included common law fraud, negligence, and breach of contract. Settled for $44,500.
- September 28, 2023 – Dispute alleging negligence and breach of fiduciary duty. Settled for $30,000.
- November 29, 2022 – Complaint alleging violations of Regulation Best Interest (Reg BI), fiduciary breaches, and Florida securities laws. Settled for $42,500.
- June 28, 2022 – Dispute alleging negligence, misrepresentation, and failure to supervise. Settled for $60,000.
Several other disputes have been filed, including one in November 2023 that was later withdrawn.
These repeated settlements highlight a troubling pattern of claims involving fiduciary breaches, negligent supervision, and possible Reg BI violations.
Risks to Investors
Investors should be aware that repeated disclosures of fiduciary breaches and negligence may indicate unsuitable investment recommendations or a failure to properly manage risk. Private placements, alternative investments, and complex products often appear in cases like these, which can expose retail investors to illiquidity, high fees, and volatility.
Recovery Options for Investors
If you suffered investment losses with Michael Whitaker or Newbridge Securities Corporation, you may be able to recover damages through a FINRA arbitration claim. Unlike a class action, FINRA arbitration allows individual investors to pursue compensation directly against the broker-dealer responsible for their losses.
FINRA Arbitration vs. Class Action
- FINRA Arbitration – A streamlined, private process designed specifically for resolving disputes between investors and brokerage firms.
- Class Action Lawsuits – Broader lawsuits that typically involve securities issuers rather than individual brokers or firms, and often do not address suitability or fiduciary duty claims.
For most investors in cases like this, FINRA arbitration is the more effective route to pursue recovery.
Free Consultation
If you invested with Michael Whitaker or Newbridge Securities Corporation and have concerns about your accounts, The White Law Group may be able to help. Our firm has recovered millions of dollars for investors nationwide through claims against brokers and financial advisors.
For a free consultation with a securities attorney, please call (888) 637-5510 or visit www.whitesecuritieslaw.com.
Frequently Asked Questions
What is Michael Whitaker accused of?
According to FINRA BrokerCheck, Whitaker has been accused of breach of fiduciary duty, negligence, fraud, and Reg BI violations across multiple customer disputes.
How much has been paid in settlements?
Settlements disclosed in his record range from $14,999 to $62,500, with multiple six-figure claims filed.
Can investors recover their losses?
Yes. Investors may be able to pursue recovery through a FINRA arbitration claim against Newbridge Securities Corporation or other firms involved.
