The law firm of Oakes & Fosher is presently investigating the alleged misconduct of former securities broker Eugene Freund. According to his publicly available FINRA BrokerCheck report, Eugene Freund has been the subject of multiple customer disputes.

Eugene Freund was a New York based securities broker. He worked in the securities industry for forty-seven years. During his career, he was registered with seven different securities firms.

His Registrations

  • Ladenburg Thalmann & Company (1968-1973)
  • L.F. Rothschild & Co. (1973-1988)
  • Tucker Anthony Incorporated (1988-2002)
  • RBC Dain Raunchier (2002-2003)
  • RBC Capital (2004-2016)
  • Empire Asset Management Company (2016-2017)
  • Oppenheimer (2017)

The Allegations

  • In January 2018, customers alleged that Eugene Freund recommended unsuitable investments in high risk municipal bonds. This case was settled for $157,500 in damages.
  • In July 2018, a customer alleged that Eugene Freund excessively traded their account, engaged in an improper use of option trading, and over-concentrated their account in bonds. This case was settled for $130,000 in damages.

What Does This Mean?

Securities brokers like Eugene Freund have an obligation to their customers to only recommend securities that they are financially suited for. Specific types of investments are only suitable for specific types of investors. Brokers can determine if an investment is suitable by looking at factors like the customer’s investment objectives, financial situation, age, liquidity needs, and risk tolerance. This is one of the most important aspects of a broker’s job due to how detrimental it is to investors when they are placed in investments that are unsuitable for them.

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 Eugene Freund, 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.