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

Ernest Sean Mishne is an Ohio based securities broker. He has worked in the securities industry for twenty-nine years. During his career, he has been registered with two different securities firms.

His Registrations

  • Cowen & Co. (1990-1995)
  • Oppenheimer & Co. (1995-Present)

The Allegations 

  • In March 2001, a customer alleged that Ernest Sean Mishne failed to follow their instructions. This case went to arbitration where the customer was awarded $275,000 in damages.
  • In July 2001, it was alleged, on behalf of an 85 year old customer living in a nursing home, that Ernest Sean Mishne excessively traded their account. This case went to arbitration where the customer was awarded $275,000 in damages.
  • In January 2020, an attorney, on behalf of a customer, alleged that Ernest Sean Mishne recommended unsuitable investments, misled the customer, and failed to follow instructions. This case is currently pending. The customer is seeking $450,000 in damages.

What Does This Mean?

Not every investor is financially suited for all types of investments. There are many types of investments out there that are not suitable for investors. It is the responsibility of a customer’s securities broker to determine if an investment is suitable for their customer. This suitability can be determined by analyzing important financial information provided by the customer. This includes the customer’s age, net worth, financial situation, liquidity needs, risk tolerance, and investment objectives. Brokers who invest their customers contrary to these factors have violated what is known as the suitability rule.

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 Ernest Sean Mishne, 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.