The law firm of Oakes & Fosher is presently investigating the alleged misconduct of former securities broker Michael Tantleff. According to his publicly available FINRA BrokerCheck report, Michael Tantleff has been the subject of multiple customer disputes.

Michael Tantleff was a California based securities broker. He worked in the securities industry for thirty-nine years. During his career, he was registered with four different securities firms. He is no longer working as a registered securities broker in any fashion.

His Registrations

  • Dean Witter & Co. (1977)
  • Paine, Webber, Jackson & Curtis Incorporated (1977-1983)
  • Prudential Securities Incorporated (1983-2003)
  • Wells Fargo Clearing Services (2003-2017)

The Allegations 

  • In September 1995, customers alleged that Michael Tantleff managed their account negligently, breached his fiduciary duty, and made material misrepresentations and omissions of fact. These allegations were in connection with purchases of limited partnerships. This case was settled for $85,000 in damages.
  • In October 2001, customers alleged that Michael Tantleff failed to follow their instructions to liquidate their managed accounts. This case was settled for $5,000 in damages.
  • In July 2002, a customer alleged that Michael Tantleff made unsuitable investment recommendations and engaged in an unsuitable use of margin. This case was settled for $550,000 in damages.
  • In December 2015, a customer alleged that Michael Tantleff provided him with inaccurate information about his investments. This case was settled for $50,000 in damages.
  • In January 2016, a customer alleged that his low-risk retirement portfolio should have been invested more conservatively then it was. This case was settled for $47,200 in damages.

What Does This Mean?

It is imperative that all of the information securities brokers provide their customers with about their investments is 100 percent accurate. Customers need to know everything accurately so that nothing skews their judgement when making crucial financial decisions. When a securities broker provides their customer with false information, it is referred to as misrepresentation. The act of misrepresentation can occur either accidentally, as a result of the broker’s negligence, or on purpose, due the broker’s fraudulent intent. Intent is irrelevant in most situations concerning misrepresentation as the customer can be financially harmed whether the broker committed the act on purpose or not. Brokers are supposed to perform their duties to a required standard that prevents this act from occurring due to negligence.

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 Michael Tantleff, 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.