Lisle, IL – December 18, 2025 – David Levinson (CRD# 705929), a financial advisor with American Trust Investment Services in Lisle, Illinois, has a pending customer complaint on his FINRA BrokerCheck record alleging unsuitable alternative investment recommendations and misrepresentations. The complaint, filed in November 2025, seeks approximately $400,000 in damages. This post provides factual information from FINRA records and explains investor recovery options.
BrokerCheck Snapshot
Name: David Bernard Levinson
CRD #: 705929
Current Firms: American Trust Investment Services, Inc. / Chicago Capital Management Advisors, LLC
Location: Lisle, IL / Newport Beach, CA
Years in Industry: 45
Number of Disclosures: 1 (1 Customer Dispute – Pending)
Current Status: Currently registered
Customer Complaint Against David Levinson
On November 13, 2025, a customer filed a FINRA arbitration complaint against David Levinson in connection with his work at WestPark Capital, Inc. The customer alleges that between 2019 and 2025, Levinson recommended unsuitable alternative investments, including three Delaware Statutory Trusts and MacKenzie Realty Capital, and made misrepresentations regarding risk, performance, and income expectations.
The Statement of Claim asserts negligence, breach of fiduciary duty, and negligent supervision, alleging losses of approximately $400,000 plus additional damages. The case has been filed as FINRA arbitration docket number 25-02485 and is currently pending. The products involved are classified as Direct Investment-DPP & LP Interests.
Because this complaint is pending, the allegations have not been proven or adjudicated. The matter may be withdrawn, dismissed, resolved in favor of the broker, or concluded through a negotiated settlement. Under FINRA rules, brokers are required to disclose all customer complaints that allege damages of $5,000 or more, regardless of whether the complaint is ultimately denied, settled, or withdrawn.
Pattern of Complaints / Risk Factors
While each case is unique, complaints of this type may indicate concerns related to unsuitable investment recommendations, inadequate risk disclosures, or misrepresentation of investment features. Delaware Statutory Trusts and similar alternative investments often involve complex structures, limited liquidity, and specific risk profiles that require thorough explanation.
Investors should carefully review all investment documentation and seek legal guidance if they believe important information about risks, liquidity restrictions, fees, or income expectations was not properly disclosed. Alternative investments like DSTs and private real estate funds may not be appropriate for all investors, particularly those who require liquidity or who have limited risk tolerance.
Can Investors Recover Losses?
Investors who relied on false statements or omissions may be entitled to pursue recovery through FINRA arbitration. Patil Law, P.C. has over 15 years of experience representing investors in FINRA arbitration and securities litigation, with more than $25 million recovered for clients across 1,000+ cases. We provide a free, confidential consultation to review your potential claim. Our firm works on a contingency fee basis, meaning you pay no attorney fees unless we successfully recover money for you.
About FINRA Arbitration
FINRA arbitration is a streamlined dispute resolution process for securities-related claims. It offers a faster, more cost-effective alternative to traditional court litigation. Most cases are resolved within 12-16 months. Claims generally must be filed within six years of the incident. The process is designed to handle disputes between investors and brokerage firms or individual brokers regarding investment losses, unauthorized trading, or misrepresentation of investments.
Related Brokers and Firms
If you experienced losses involving David Levinson or other brokers who recommended Delaware Statutory Trusts, MacKenzie Realty Capital, or similar alternative investments, you may want to review similar cases. Our firm has handled numerous claims involving unsuitable investments and misrepresentation at brokerage firms. Common issues include misleading statements about investment risks, failure to disclose liquidity restrictions, overstating income potential, and recommendations that do not align with a client’s investment objectives or risk tolerance.
Frequently Asked Questions
What is the complaint against David Levinson?
According to FINRA records, a customer filed a pending arbitration complaint on November 13, 2025, alleging that David Levinson recommended unsuitable alternative investments between 2019 and 2025, including three Delaware Statutory Trusts and MacKenzie Realty Capital. The complaint alleges misrepresentations regarding risk, performance, and income expectations, and asserts negligence, breach of fiduciary duty, and negligent supervision. The customer seeks approximately $400,000 in damages. The case is currently pending as FINRA arbitration docket 25-02485.
Can investors recover losses involving alternative investments?
Yes, investors who suffered losses due to broker misconduct involving alternative investments may be entitled to pursue recovery through FINRA arbitration. The arbitration process allows investors to seek compensation for losses resulting from unsuitable recommendations, misrepresentation, failure to disclose material risks, and other forms of securities misconduct. Claims must generally be filed within six years of the incident.
What is FINRA arbitration?
FINRA arbitration is a dispute resolution forum administered by the Financial Industry Regulatory Authority. It provides a more efficient alternative to traditional litigation for resolving disputes between investors and brokerage firms. An arbitration panel reviews evidence, hears testimony, and issues a binding decision. The process typically takes 12-16 months from filing to resolution.
What does “unsuitable investment” mean?
An unsuitable investment is one that does not align with an investor’s financial situation, investment objectives, risk tolerance, or time horizon. Under FINRA rules, brokers must have a reasonable basis for believing that a recommended investment is suitable for a particular customer. Recommendations that prioritize the broker’s compensation over the client’s best interests may constitute unsuitable investment advice.
How do I look up a broker on BrokerCheck?
Visit FINRA’s BrokerCheck website at brokercheck.finra.org and search by the broker’s name or CRD number. BrokerCheck provides information about a broker’s employment history, qualifications, and disclosure events, including customer complaints, regulatory actions, and employment terminations. The service is free and publicly accessible.
What should I do if I suspect broker misconduct?
Document all communications with your broker, including emails, statements, and recorded calls if available. File a complaint with FINRA and your state securities regulator. Consider consulting with a securities attorney who specializes in investor recovery to evaluate whether you have a viable claim. Acting promptly is important, as arbitration claims must be filed within six years of the incident.
About Patil Law, P.C.
Patil Law, P.C. is a securities litigation firm dedicated to representing investors who have suffered losses due to broker misconduct, unsuitable recommendations, and securities fraud. Founded in 2018 by attorney Chetan Patil, the firm focuses exclusively on FINRA arbitration and investment loss recovery.
With over 15 years of combined experience in securities law, Patil Law has successfully recovered more than $25 million for clients across 1,000+ cases. Attorney Chetan Patil earned his law degree from Case Western Reserve University School of Law. Attorneys Gabriela Dubrocq and Patricia Herrera earned their law degrees from University of Miami. The firm handles cases nationwide involving unauthorized trading, churning, unsuitable investments, breach of fiduciary duty, and failure to supervise.
Patil Law works on a contingency fee basis, meaning clients pay no attorney fees unless the firm successfully recovers money on their behalf. All consultations are free and confidential.
Contact Patil Law for a Free Consultation
If you suffered investment losses involving David Levinson or another broker who recommended Delaware Statutory Trusts, MacKenzie Realty Capital, or similar alternative investments, contact Patil Law, P.C. for a free, confidential case evaluation. Our experienced securities attorneys can review your account statements, assess whether you have a viable claim, and explain your legal options.
Call: 800-950-6553
Email: info@patillaw.com
Website: investmentlosslawyer.com
There is no obligation, and we work on a contingency fee basis—you pay nothing unless we recover money for you.
Disclaimer: The information in this post is based on FINRA BrokerCheck records and public filings. Allegations described are pending or unproven and may be contested. All investors are entitled to fair treatment under securities laws. This is attorney advertising. Prior results do not guarantee a similar outcome. This communication is for informational purposes only and does not create an attorney-client relationship.
