The law firm of Oakes & Fosher is presently investigating the alleged misconduct of securities broker Russell Green. According to his publicly available FINRA BrokerCheck report, Russell Green has been the subject of multiple customer disputes over the course of his career.
Russell Green is a New York based securities broker. He has worked in the securities industry for thirty-four years. During his career, he has been registered with eight different securities firms.
His Registrations
- Norbay Securities (1985)
- Lehman Brothers (1985-1993)
- Smith Barney (1993-1996)
- G.F.B. Securities (1996-1999)
- Northridge Capital Corporation (1999-2000)
- HD Brous & Co. (2000-2005)
- B. Riley Wealth Management (2005-2018)
- Cabot Lodge Securities (2018-Present)
The Allegations
- In August 1991, a customer alleged that Russell Green executed unauthorized transactions. This case was settled for $81,277 in damages.
- In June 1992, a customer alleged that Russell Green churned their account, recommended unsuitable investments, and executed unauthorized trades. This case was settled for $18,266 in damages.
- In February 1994, a customer alleged that Russell Green executed unsuitable transactions, engaged in an unsuitable and unauthorized use of margin, excessively traded their account, and made material misrepresentations. This case was settled for $27,668 in damages.
- In August 2017, a customer alleged that Russell Green traded their account excessively and recommended unsuitable investments. This case was settled for $250,000 in damages.
What Does This Mean?
Securities brokers have an obligation to their customers to recommend investments that they are financially suited for. Brokers can determine if a particular investment would be suitable by analyzing a multitude of factors. These include; investment objectives, liquidity needs, age, financial situation, risk tolerance, and more. Brokers who are unable to determine suitability by looking at these factors lack the ability to perform their duties to the necessary standard that is required for their position.
Oakes & Fosher Can Help
Many investors are unaware of the legal recourse available to them after losing money due to securities broker fraud and/or negligence. The truth is that investors who have lost money in this fashion may actually be entitled to damages.
Oakes & Fosher dedicates its entire legal practice to helping investors across the nation. If you, or someone you know, have lost money investing with Russell Green, please contact Oakes & Fosher for a free and private consultation. We work on a contingency basis, which means there are no fees charged unless we collect for you.
