The law firm of Oakes & Fosher is currently investigating the possible misconduct of securities broker Dana Hawkins. According to his publicly available FINRA BrokerCheck report, Dana Hawkins has been the subject of multiple customer complaints over the course of his career.
Dana Hawkins is a South Carolina based securities broker. He has worked in the securities industry for a total of eight years with just two different securities firms.
His Registrations
- J.P. Turner & Company (2011-2015)
- Centaurus Financial (2015-Present)
The Allegations
- In September 2018, customers alleged the investments made by Hawkins on their behalf were unsuitable given their previously stated investment objectives. This case is currently pending. These customers are seeking $150,000 in damages.
- In December 2018, another customer alleged that Dana Hawkins recommended multiple unsuitable securities. This case is currently pending. The customer is seeking $336,130 in damages.
- In February 2019, another customer alleged that Hawkins recommended unsuitable investments. This case was settled for $12,000 in damages.
- In August 2019, customers alleged that Dana Hawkins recommended they invest in unsuitable, complex, high-risk, speculative, and illiquid investments. They also alleged that Hawkins breached his fiduciary duty by recommending such investments. This case is currently pending. The customers are seeking $50,000 in damages.
- In September 2019, customers alleged that Dana Hawkins misrepresented investments, breached his fiduciary duty, and recommended highly unsuitable investments. This case is currently pending. The customers are seeking $100,000 in damages.
- In February 2020, a customer alleged that Dana Hawkins made material misrepresentations about unsuitable investments and breached his fiduciary duty. This case is currently pending. The customer is seeking $171,000 in damages.
- In April 2020, a customer alleged that Dana Hawkins made material misrepresentations about unsuitable investments and breached his fiduciary duty. This case is currently pending. The customer is seeking $100,000 in damages.
What Does This Mean?
Securities brokers have a legal obligation to only recommend securities to customers for which they are suited for. This is determined by the investor’s financial situation, investment objectives, and liquidity needs. If a securities broker recommends to an investor that they purchase specific securities that are contrary to their objectives and needs, the broker has now breached their fiduciary duty.
Oakes & Fosher Can Help
When investors lose money due to stockbroker negligence or misconduct, they may be entitled to damages. This includes when customers believe that the investments they purchased on their broker’s recommendation were unsuitable. Oakes & Fosher dedicates its entire legal practice to helping investors across the nation. If you, or someone you know, have lost money investing with Dana Hawkins, please contact Oakes & Fosher for a free and private consultation.
