The law firm of Oakes & Fosher is presently investigating the alleged misconduct of securities broker Grover Hinebaugh. According to his publicly available FINRA BrokerCheck report, Grover Hinebaugh has been the subject of multiple customer complaints.
Grover Hinebaugh is a Florida based securities broker. He has worked in the securities industry for thirty-three years. During his career, he has been registered with two different securities firms.
His Registrations
- NYLife Securities (1982-1990, 1994-Present)
- Titan/Vale Equities (1990)
The Allegations
- In August 2011, a customer alleged that Grover Hinebaugh’s recommendation that she rollover funds into an existing variable annuity policy between May and July 2011 was not suitable based on her age and financial needs. This case was settled for $119,062 in damages.
- In September 2014, a customer alleged that Grover Hinebaugh recommended they purchase variable universal life insurance policies and that this was not suitable considering their age at the time. The customer also alleged that the fact that the cost of insurance would increase over time was never explained to him by Hinebaugh. This case was settled for $14,285 in damages.
- In January 2018, a customer alleged that, based on Grover Hinebaugh’s advice and recommendations, he sold his bond positions and purchased a variable annuity that was unsuitable.
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 Grover Hinebaugh, please contact Oakes & Fosher for a free and private consultation.
