The law firm of Oakes & Fosher is presently investigating the alleged misconduct of securities broker Joel Davidman. According to his publicly available FINRA BrokerCheck report, Joel Davidman has been the subject of multiple complaints in his career.
Joel Davidman is a California based securities broker. He has worked in the securities industry for thirty-eight years. During his career, he has been registered with four different securities firm.
His Registrations
- Morgan Stanley DW (1981-2007)
- Morgan Stanley & Co. (2007-2009)
- Morgan Stanley (2009-2015)
- Stifel, Nicolaus & Company (2015-Present)
The Allegations
- In October 2008, a customer alleged that Joel Davidman did not suitably manage his trust by allowing margin against a portfolio of junk bonds. This case was settled for $225,000 in damages.
- In May 2015, Joel Davidman was discharged from his position at Morgan Stanley following allegations that he exercised discretion without the proper authorization.
- In July 2017, he was sanctioned by FINRA due to allegations of discretionary trading without getting the proper authority. Due to these allegations, he was fined $5,000 and suspended from acting as a securities broker in any fashion for a period of forty-five days.
- In April 2019, a customer alleged that Joel Davidman recommended unsuitable investments.
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 Joel Davidman, 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.
