The law firm of Oakes & Fosher is currently investigating allegations levied against securities broker Michael Greenfield. According to his publicly available FINRA BrokerCheck report, Michael Greenfield has received multiple customer complaints over the course of his career.

Michael Greenfield is a Florida-based securities broker. He has worked in the securities industry for ten years. During his career, he has been registered with four different securities firms.

His Registrations

  • The GMS Group (2008-2013)
  • Morgan Stanley (2013)
  • Oppenheimer & Co. (2013-2016)
  • Newbridge Securities Corporation (2017-Present)

Allegations

  • In September 2013, a customer alleged that Greenfield recommended unsuitable Puerto Rico bonds.
  • In August 2014, a customer alleged that Michael Greenfield breached his fiduciary duty by recommending an unsuitable investment. This case was settled for $35,000 in damages.
  • In April 2015, a customer alleged unsuitable investment recommendations. This case was settled for $15,000 in damages.
  • In December 2016, a customer alleged that Michael Greenfield misrepresented a security to him.
  • In June 2017, a customer alleged unsuitability and misrepresentation in connection with municipal and corporate bonds. This case is currently pending. The customer is seeking $147,334 in damages.
  • In January 2019, a customer alleged that Michael Greenfield handled their account negligently, breached contract, and breached his fiduciary duty in connection with the purchase of limited partnerships. This case is currently pending. The customer is seeking $200,000 in damages.

What Does This Mean?

Many investors are not aware of the legal recourse available to them after losing money due to stock broker fraud or negligence. Securities brokers have not only a fiduciary duty, but a legal obligation to act in the best interests of their clients. When brokers recommend securities for which the customer is not suited, misrepresent key details about the securities, breach the agreed upon contract, or handle their customers’ investments negligently, the customers may be entitled to damages.

Oakes & Fosher Can Help

Oakes & Fosher dedicates its entire legal practice to helping investors across the nation. If you, or someone you know, have lost money investing with Michael Greenfield, please contact Oakes & Fosher for a free and private consultation.