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

Daniel Lauletta is an Ohio based securities broker. He has worked in the securities industry for twenty-four years. During his career, he has been registered with ten different securities firms.

His Registrations

  • Capital Analysts, Incorporated (1996-2000)
  • Fort Washington Brokerage Services (2000-2003)
  • Capital Brokerage Corporation (2003)
  • The Lincoln National Life Insurance Company (2004-2006)
  • Lincoln Financial Advisors Corporation (2004-2008)
  • Ameriprise Financial Services (2008-2012)
  • Walnut Street Securities (2012-2013)
  • Cetera Advisor Networks (2013-2016)
  • MSI Financial Services (2016-2017)
  • MML Investors Services (2017-Present)

The Allegations

  • In February 2014, a customer alleged that the surrender charges associated with his variable annuity purchase had not been disclosed to him by Lauletta.
  • In May 2014, a customer alleged that Daniel Lauletta failed to liquidate his Behringer Harvard REIT in a timely fashion which resulted in a substantial reduction in the value of the REIT. This case was settled for $18,500 in damages.
  • In August 2014, a customer alleged that Daniel Lauletta executed an unauthorized exchange of two variable annuities to a fixed indexed annuity.
  • In February 2015, a customer alleged that Daniel Lauletta managed their account negligently and breached contract. This case was settled for $200,000 in damages.
  • In December 2019, a customer alleged that Daniel Lauletta made material misrepresentations and fraudulently induced him into purchasing several Variable Universal Life Insurance policies. This case is currently pending.

What Does This Mean?

Negligence is a very broad charge made against securities brokers. Essentially it encompasses any action that occurred by accident, but still caused significant harm to the investor. Securities brokers are expected to perform their duties to the highest standard in order to prevent this from happening. Securities brokers are not absolved from liability simply because the investor was harmed by accident. The broker should have been paying better attention and taken the necessary steps to prevent what happened from occurring.

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 Daniel Lauletta, 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.

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