April 2019 – St. Louis, MO
According to publicly available records Todd Allen Burnett (CRD#2703620) , a stockbroker who currently is employed by Oppenheimer & Co. , disclose that a customer recently settled a FINRA arbitration claim for the mismanagement of his brokerage account.
The Financial Industry Regulatory Authority (FINRA) is the agency that licenses and regulates stockbrokers and brokerage firms. FINRA requires brokers and brokerage firms to report customer complaints and disputes as well as regulatory sanctions. In addition brokers are required to disclose certain financial matters such as personal bankruptcies, judgments and liens.
In November of 2017, a customer of Oppenheimer & Co. Inc. filed FINRA arbitration case #17-02648 alleging:
- Breach of Fiduciary Duty
- Churning
- Suitability
- Conversion by charging excessive fees
- Missing funds
The customer is seeking damages of $900,000 and the time period of the alleged wrongdoing is 1/2008-12/2016. In 9/2018 that case was settled for $275,000.
Todd Burnett has been employed by Oppenheimer since 1/2003.
If you have questions about an account handled by Todd Burnett , contact us for a no charge consultation to discuss your options. You may be able to recover damages for losses through FINRA arbitration.
Rex Securities Law , with offices in Boca Raton, FL, and Austin, TX, provides representation to investors nationwide who are seeking recovery of investment losses due to the negligence or fraud of stockbrokers and broker dealers. If you have questions about how your account has been handled, call to speak with an experienced securities attorney.
Most cases handled on a contingent fee basis meaning that you do not pay legal fees unless we are successful.
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