The law firm of Oakes & Fosher is presently investigating the alleged misconduct of securities broker Dennis Fearing. According to his publicly available FINRA BrokerCheck report, Dennis Fearing has been the subject of multiple customer disputes over the course of his career.
Dennis Fearing is a Minnesota-based securities broker. He had worked in the securities industry for thirty six years. During his career, he had been registered with ten different securities firms.
- IDS Financial Services (1984-1986)
- American Express Financial Advisors (1984-1996)
- Financial Advantage Brokerage Services (1996-1997)
- American Investment Services (1997-1997)
- Huntingdon Securities Corporation (1997-2004)
- Fintegra (2004-2005)
- Associated Financial Services (2006-2008)
- Northland Securities (2008-2011)
- Berthel, Fisher & Company (2011-2021)
The Allegations
- In December 2020, a customer alleged that Dennis Fearing recommended unsuitable investments. They further alleged that the firm was negligent and did not conduct due diligence. This case was settled for $325,000 in damages.
- In June 2021, a customer alleged that Fearing breached his fiduciary duty by misrepresenting the risks of investments and failed to disclose the excessive fees earned on their investments. This case was settled for $14,999 in damages.
- In March 2022, a customer alleged that Fearing had recommended investments that were unsuitable and inconsistent with their objectives. They further allege that their account was overconcentrated in privately traded products. This case is currently pending, and the customer is seeking $750,000 in damages.
Private Product
Private products are privately traded securities not sold on any public securities exchanges that are also not registered with the Securities and Exchange Commission (SEC). Because of this lack of oversight, these products are often very poorly regulated and can often cause significant financial harm to investors. Many securities brokers take advantage of private placements’ complicated nature to misrepresent them as stable investments. The truth is that these products are incredibly speculative and are often illiquid investment options. They are also accompanied by incredibly high upfront fees that can drain investor principals substantially.
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 Dennis Fearing, please contact Oakes & Fosher for a free and private consultation. We handle cases on a contingency basis, which means there are no fees charged unless we collect for you.
