The law firm of Oakes & Fosher is currently investigating the possible misconduct of securities broker Jeffrey Lon Smith. According to his publicly available FINRA BrokerCheck report, Jeffrey Lon Smith has been the subject of a customer dispute.
Jeffrey Lon Smith is an Illinois-based securities broker. He has worked in the securities industry for eleven years. He spent his entire career registered with the O.N. Equity Sales Company.
In April 2019, a customer alleged that Jeffrey Lon Smith provided incorrect information regarding a living benefit rider. This case was settled for $243,755 in damages.
What Does This Mean?
Misrepresentation is a very serious charge, as it can often result in very serious financial harm to an investor. Essentially, misrepresentation occurs when a securities broker provides an investor with information that has been falsified or obscured in some manner. This can be either on purpose, in an attempt to defraud the investor, or by accident through the broker’s negligence. In this case, customers were also alleging that Smith provided incorrect information regarding a living benefit rider. Regardless of the broker’s intent, misrepresentation can cause significant losses in an investor’s account as it can lead to them making crucial financial decisions based on misinformation.
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 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 Jeffrey Lon Smith, please contact Oakes & Fosher for a free and private consultation.