David W. Schmidt has been handling securities arbitrations for over 30 years and has earned a national reputation as one of the most effective advocates in the field. Mr. Schmidt has represented clients in securities cases in New Jersey, New York, Florida, California, and many other jurisdictions. His experience includes cases related to broker fraud, Ponzi schemes, unsuitable trading, complex products, excessive commissions, elder law, and retirement account losses. He also has handled “selling away” cases where a broker recommends an investment that has not been approved by his firm and the firm has failed to adequately supervise the broker’s activities. He has represented registered representatives before FINRA, the NYSE, and the SEC. Mr. Schmidt has advocated for registered representatives whose CRDs include disclosures that are inaccurate or should be expunged.
Mr. Schmidt began his career as a Prosecutor in Brooklyn, and he has handled many complex criminal and civil trials. In the era before near-universal arbitration of securities cases, he handled these matters in state and federal courts. Since then, Mr. Schmidt has handled hundreds of securities arbitrations on behalf of firms and individuals.
Mr. Schmidt was one of a select group of lawyers asked to handle expedited arbitrations on behalf of a National Broker Dealer as administered by the Securities and Exchange Commission. Mr. Schmidt has also represented firms and senior personnel in matters before the Securities and Exchange Commission and self-regulatory organizations. Mr. Schmidt is presently regional counsel to several major brokerage firms and oversees all litigation handled by Lubiner, Schmidt & Palumbo. Mr. Schmidt has lectured to industry organizations and trade groups on legal and regulatory developments in the securities field and has been cited and retained as an expert in Securities Litigation and Regulation.