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

Ellis Luken is a Pennsylvania based securities broker. He has worked in the securities industry for forty-seven years. During his career, he has been registered with eight different securities firms.

His Registrations

  • Hornblower & Weeks (1972-1974)
  • Dean Witter & Co. Incorporated (1974-1976, 1978-1980)
  • Smith Barney, Harris Upham & Co. (1976-1977)
  • Reynolds Securities (1977-1978)
  • Elkins & Co. (1980-1981)
  • Lehman Brothers Inc. (1981-1993)
  • Citigroup Global Markets (1993-2009)
  • Merrill Lynch (2009-Present)

The Allegations

  • In February 2009, a customer alleged that Ellis Luke recommended investments that were not consistent with her risk tolerance and that Luken misrepresented the safety of the investments. This case was settled for $15,000 in damages.
  • In March 2018, a customer alleged that Ellis Luken recommended unsuitable investments. This case was settled for $75,000 in damages.

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 Ellis Luken, 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.