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

Marc Rogers 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 eight different securities firms.

His Registrations

  • DRB Financial (1982-1984)
  • Merrill Lynch (1983-1985)
  • Painewebber Incorporated (1985-1993)
  • Smith Barney (1993-1995)
  • Piper Jaffray Inc. (1995-1998)
  • Morgan Stanley (1998-2004)
  • RBC Capital Markets Corporation (2004-2010)
  • Wells Fargo Clearing Services (2010-Present)

The Allegations

  • In March 1998, a customer alleged that Marc Rogers churned their account, recommended unsuitable investments, and managed their account negligently. This case was settled for $250,000 in damages.
  • In January 1999, a customer alleged that Marc Rogers mismanaged their investments and churned their account. This case was settled for $200,000 in damages.
  • In July 2014, a customer alleged that Marc Rogers recommended unsuitable investments.
  • In May 2016, a customer alleged that Marc Rogers recommended unsuitable investments and made material misrepresentations. This case went to arbitration where the customer was awarded $4,179,116 in damages.
  • In April 2019, a customer alleged that Marc Rogers recommended highly unsuitable Puerto Rico Bonds, life insurance policies, and variable annuities. The customer also alleged Rogers made material misrepresentations about these products. This case is currently pending.

Misrepresentation

Misrepresentation occurs when a securities broker provides an investor with information that has been falsified in some manner. This act may occur on accident as a result of the broker’s negligence, or on purpose, through the broker’s intent to defraud. Regardless of intent, misrepresentation can cause significant harm to investors as it can lead to them making crucial financial decisions based on misinformation. For instance, an investor may decide to invest in a particular security because their broker led them to believe its suitable for them. However, if the broker had provided them with inaccurate or incomplete information, then the customer may have actually just invested in something they were woefully unsuited for.

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 Marc Rogers, 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.