The law firm of Oakes & Fosher is presently investigating the alleged misconduct of former securities broker David Mallett. According to his publicly available FINRA BrokerCheck report, David Mallett has been the subject of multiple customer disputes over the course of his career.
David Mallett was an Arizona based securities broker. He worked in the securities industry for nine years. During his career, he was registered with three different securities firms. He is no longer working as a registered securities broker in any fashion.
His Registrations
- Merrill Lynch (2006-2008)
- Stephens (2008-2015)
- Wunderlich Securities (2015-2016)
The Allegations
- In December 2015, a customer alleged that David Mallett made an unauthorized purchase of municipal bonds on their behalf.
- In July 2016, David Mallett was discharged from his position at Wunderlich Securities due to management losing confidence in him due to an alleged failure to appropriately advise of disclosable events.
- In October 2016, a customer alleged that David Mallett churned their account, recommended unsuitable investments, and over-concentrated their account. This case was settled for $91,500 in damages.
- In February 2017, David Mallett was barred by FINRA after allegedly failing to comply with a request for information.
- In May 2018, a customer alleged that David Mallett executed three unauthorized transactions–two municipal bonds and one mutual fund.
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 David Mallett, 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.
