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

Mark Sitter is a Texas-based securities broker. He has worked in the securities industry for thirty-one years. During his career, he has been registered with three different securities firms.

His Registrations

  • Merrill Lynch (1988-2006)
  • Capital Financial Services (2006-2019)
  • KCD Financial (2019-Present)

The Allegations

  • In December 2001, a customer alleged that Mark Sitter recommended unsuitable investments. This case was settled for $75,000 in damages.
  • In April 2004, a customer alleged that Mark Sitter recommended unsuitable investments.
  • In December 2017, a customer alleged that Mark Sitter misrepresented the nature of an investment. This case was settled for $72,000 in damages.
  • The March 2019, a customer alleged that Mark Sitter made material misrepresentations and breached his fiduciary duty. This case is currently pending. The customer is seeking $500,000 in damages.

What Does This Mean?

Misrepresentation occurs whenever a securities broker makes any false assertion to investors about an investment or potential investment. This can either occur by accident, due to the broker’s own negligence, or on purpose, due to the securities broker’s fraudulent intent. Regardless of the broker’s intent, misrepresentation can cause significant financial detriment to investors 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 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 Mark Sitter, 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.