The law firm of Oakes & Fosher is currently investigating the alleged misconduct and/or negligence of securities broker Andrew Burdsall. According to his publicly available FINRA BrokerCheck report, Andrew Burdsall has received multiple customer complaints over the course of his career.
Andrew Burdsall is presently working as an Indiana based securities broker. He has worked in the securities industry for nineteen years. During his career, he has been registered with three different securities firms.
His Registrations
- IDS Life Insurance Company (1999-2005)
- Ameriprise Financial Services (1999-2005)
- Securities America, Inc. (2001-Present)
The Allegations
- In December 2009, customers alleged that Andrew Burdsall misrepresented material details, recommended unsuitable investments, handled their account negligently, engaged in fraud, and breached his fiduciary duty. This case was settled for $31,000 in damages.
- In July 2010, customers alleged unsuitability and misrepresentation in connection with the recommendation and sale of provident royalties. This case was settled for $626,661 in damages.
- In August 2010, another customer alleged unsuitability and misrepresentation in connection with the recommendation and sale of provident royalties. This case was settled for $20,888 in damages.
- In December 2010, a customer alleged unsuitability and misrepresentation against Andrew Burdsall in connection with the recommendation and sale of medical capital. This case was settled for $32,493 in damages.
- In January 2019, a customer alleged that Andrew Burdsall executed unauthorized trades in their account which resulted in losses. This case is currently pending. The customer is seeking $106,202 in damages.
What Does This Mean?
Securities brokers have a fiduciary duty to always act in the best interests of the clients. Part of acting in their best interests means disclosing every relevant detail associated with the investment. When securities brokers leave out key details or purposefully convey false information to the customer, it qualifies as misrepresentation. If an investor believes that they experienced financial damages due to a securities broker misrepresenting the details of an investment, they may be entitled to damages.
Oakes & Fosher Can Help
Oakes & Fosher dedicates its entire legal practice to helping investors across the nation. If you, or someone you know, have lost money investing with Andrew Burdsall, please contact Oakes & Fosher for a free and private consultation.
