The law firm of Oakes & Fosher is presently investigating the alleged misconduct of securities broker Maria Hendershott. According to her publicly available FINRA BrokerCheck report, Maria Hendershott has been the subject of multiple customer disputes over the course of her career.
Maria Hendershott is a Texas-based securities broker. She has worked in the securities industry for forty-three years. During her career, she has been registered with nine different securities firms.
Her Registrations
- E.F. Hutton & Company (1976-1978)
- Lehman Brothers Kuhn Loeb Incorporated (1978-1983)
- Prudential-Bache Securities (1982-1983)
- Oppenheimer & Co. (1983-1985)
- Underwood, Neuhaus & Co. (1985-1989)
- Lovett Underwood Neuhaus & Webbs (1989-1990)
- First Union Securities (1990-2001)
- Legg Mason Wood Walker Incorporated (2001-2006)
- Raymond James & Associates (2006-Present)
Allegations
- In November 1994, a customer alleged that Maria Hendershott recommended unsuitable investments and made material misrepresentations. This case was settled for $20,000 in damages.
- In January 2016, a customer alleged that Maria Hendershott recommended unsuitable investments, over-concentrated their account, breached her fiduciary duty, committed fraud, and made fraudulent and negligent material misrepresentations and omissions of fact. This case was settled for $285,000 in damages.
- In October 2017, a customer alleged that Maria Hendershott grossly mismanaged their accounts, engaged investor abuse, churned their account, breached her fiduciary duty, managed their account negligently, and violated industry rules. This case was settled for $75,000 in damages.
- In November 2018, a customer alleged that Maria Hendershott breached contract, violated provisions of the Texas Deceptive Trade Practices, and breached her fiduciary duty. This case was settled for $55,000 in damages.
- In August 2019, a customer alleged that Maria Hendershott recommended unsuitable investments, made material misrepresentations and omissions of fact, over-concentrated their account, violated FINRA rules, and managed their account negligently. This case is currently pending. The customer is seeking $175,000 in damages.
What Does This Mean?
One of the most prominent allegations made against Maria Hendershott was that she made material misrepresentations and omissions of fact. Omission occurs when a securities broker provides their customer with incomplete information. Misrepresentation occurs when a securities broker has provided their customer with information that has been falsified in some regard. These acts can occur either on purpose, through the broker’s own fraudulent intent, or by accident, through the broker’s own negligence. However, the broker’s motivation is irrelevant in most cases as it causes losses in customer accounts just the same as these acts can lead to investors 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 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 Maria Hendershott, please contact Oakes & Fosher for a free and private consultation. We work on a contingency basis, which means there are no fees charged unless we collect for you.
