Mark Richardson Involved in a Real Estate Private Placement Dispute

Mark Richardson (CRD #: 6259211), a broker registered with Lightpath Capital, is facing an investor dispute alleging he was negligent when he recommended an unsuitable private placement. This is according to his BrokerCheck record, accessed on July 26, 2021. Keep reading for more detail. 

On May 19, 2023, investors alleged that Mark Richardson recommended a real estate private placement. The private placement invested in student housing and failed following the Covid pandemic, ultimately leading to a forced sale of the property. The investors allege that Mark Richardson engaged in gross negligence when he recommended this investment. They further allege violations of California securities laws and a breach of contract. 

The investors are seeking $696,494.19 in this pending dispute. 

On December 22, 2022, investors alleged that Mark Richardson negligently recommended a real estate private placement. The investors alleged they invested $2,034,006. 

What is a Private Placement? 

Private placements are always risky because they do not have to register with the SEC and therefore do not have to meet as strict standards when disclosing information about the issuer. Private placements are also often illiquid and difficult to sell, making them high-risk. 

FINRA Rule 2010

FINRA Rule 2010 holds brokers to high standards of commercial honor and just and equitable principles of trade. Negligence violates FINRA Rule 2010. 

Background Information 

Mark Richardson has passed the following exams: 

• Series 63 Uniform Securities Agent State Law Examination 
• SIE – Securities Industry Essentials Examination 
• Series 7 General Securities Representative Examination 
• Series 24 General Securities Principal Examination 

He is a registered broker in nine states. 

Mark Richardson has only registered with Lightpath Capital (CRD #: 34617).

Kurta Law Can Help

If you worked with Mark Richardson and you have concerns about your investments, please contact us today at 877-600-0098 or info@kurtalawfirm.com for a free consultation.

For over 20 years, Kurta Law has advocated on behalf of investors who want to recover their investment losses from brokers and brokerage firms. Kurta Law is a nationally recognized law firm and exclusively represents investors against brokers and brokerage firms on a contingency basis. This means that the firm only earns a fee if our securities attorneys recover money on your behalf.