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

Joseph Stern is a California based securities broker. He has worked in the securities industry for twenty-one years. During his career, he has been registered with five different securities firms.

His Registrations

  • Robert W. Baird & Co. (1998-1999)
  • Northwestern Mutual Investment Services (1998-1999)
  • Salomon Smith Barney (1999-2000)
  • UBS Financial Services (2000-2007)
  • Morgan Stanley (2007-Present)

The Allegations 

  • In December 2016, a customer alleged that Joseph Stern recommended unsuitable corporate bonds.
  • In September 2017, a customer alleged that Joseph Stern made material misrepresentations regarding the risks associated with high yield bonds. This case was settled for $30,000 in damages.

Misrepresentation

Securities brokers, like Joseph Stern, have a duty to their customers to disclose all relevant information associated with potential investments and to disclose that information honestly. When a securities broker leaves information out when pitching an investment to their customers, it is referred to as omission. When a securities broker communicates falsified information to their customers it is known as misrepresentation. These two allegations are very serious charges because it can cause investors to purchase securities that they would not have otherwise purchased had they known all the accurate information.

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 investing 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 Joseph Stern, 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.