The law firm of Oakes & Fosher is currently investigating the alleged misconduct of securities broker Christopher Shaw. According to his publicly available FINRA BrokerCheck report, Christopher Shaw has been the subject of multiple customer disputes over the course of his career.

Christopher Shaw is a North Carolina-based securities broker who has worked in the securities industry for thirteen years. During his career, he has been registered with three different securities firms.

His Registrations 

  • Blackbird North America (2005-2010)
  • Kalos Capital (2011-2019)
  • Pruco Securities (2019-Present)

The Allegations 

  • In July 2019, a customer alleged that Christopher Shaw had recommended unsuitable investments in alternative securities. This case is currently pending, and the customer is seeking $450,000 in damages.
  • In November 2019, a customer alleged that Shaw had breached his fiduciary duty and made unsuitable investment recommendations. This case is currently pending, and the customer is seeking $350,000 in damages.
  • In February 2020, a customer alleged that Shaw had engaged in misrepresentation and made unsuitable investment recommendations. This case is currently pending, and the customer is seeking $500,000 in damages.

What Does This Mean?

Alternative investments are privately traded investment funds not sold on any public securities exchanges.  These types of investments can be very harmful to investors due their associated risk, illiquidity, and extreme high cost structure.  The illiquidity of these investments is a direct result of their private, unregulated nature.  Publicly traded equities have a guaranteed redemption, so investors can liquidate their shares for the stated value at any moment.  Those managing these private investment funds usually attempt to retain cash infused for as long as possible to continue funding operations, so only a finite number of buyouts are typically offered in scheduled increments.  Investors are also almost always offered buyout offers substantially less than what they are told their shares are valued at.  These alternative investments are mostly recommended out of significant conflicts of interest that arise because of the often excessively high commissions brokers receive when recommending these products.  These commissions can be as high as ten percent of the investor’s principal investment.

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 due to this fraud or negligence 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 Christopher Shaw, please contact Oakes & Fosher for a free and private consultation. Oakes & Fosher handles cases on a contingency basis, which means there are no fees charged unless we collect for you.