The law firm of Oakes & Fosher is presently investigating the alleged misconduct of securities broker Gary Barth. According to his publicly available FINRA BrokerCheck report, Gary Barth is the subject of a pending customer complaint.
Gary Barth is a Nebraska based securities broker. He has worked in the securities industry for twenty-five years. He has spent his entire career registered with just Ameritas Investment Company.
In December 2019, customers alleged that Gary Barth made material misrepresentations about non-traded REITs. This case is currently pending. The customers are seeking $600,000 in damages.
What Does This Mean?
Non-traded REITs are a type of private investment that are highly unsuitable for investors. This is because they are incredibly risky and illiquid securities that are accompanied by incredibly high and self-serving fees–most of which are paid to the selling broker as their commission for brokering the trade. This serves to be the main motivation behind these unsuitable securities being recommended to unsuited investors. Non-traded REITs are so unsuitable, that major wire-house firms like Morgan Stanley, Merrill Lynch, and Wells Fargo forbid their registered brokers from recommending 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 Gary Barth, please contact Oakes & Fosher for a free and private consultation. We work on a contingency basis, which means there are no fees charged unless we collect for you.