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

Matthew Yonally is a California based securities broker. He has worked in the securities industry for thirty-four years. During his career, he has been registered with four different securities firms.

His Registrations

  • Painewebber Incorporated (1985-1994)
  • Citigroup Global Markets (1994-2008)
  • UBS Financial Services (2008-2015)
  • Merrill Lynch (2015-Present)

The Allegations

  • In December 1990, a customer alleged that Matthew Yonally made material misrepresentations and recommended unsuitable mutual funds. This case was settled for $18,500 in damages.
  • In August 2000, a customer alleged that Matthew Yonally failed to follow instructions.
  • In February 2001, a customer alleged that Matthew Yonally recommended unsuitable investments.
  • In October 2002, a customer alleged that Matthew Yonally failed to follow instructions.
  • In June 2016, customers alleged that Matthew Yonally recommended unsuitable investments, executed unauthorized trades, and made material misrepresentations and omissions of material facts. This case was settled for $125,000 in damages.

What Does This Mean?

Misrepresentation and omission is a very serious charge levied against securities brokers. This is because these acts can cause investors to experience significant financial harm. Misrepresentation occurs when a securities broker provides their customer with information that has been falsified in some regard. Omission occurs when a securities broker fails to disclose pertinent information to the customer about their account. These acts can occur either on accident, due to the broker’s negligence, or on purpose, due to the broker’s intent to defraud their customer. Regardless of the broker’s intent, these acts can cause investors to experience significant financial harm.

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 Matthew Yonally, 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.