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, investors who have lost money in this manner may be entitled to damages. The law firm of Oakes & Fosher is interested in hearing from investors who believe this may be them.

Oakes & Fosher is currently investigating the possible misconduct of securities broker Mickey Long. According to his publicly available FINRA BrokerCheck report, Mickey Long has been the subject of multiple customer disputes over the course of his career.

Mickey Long is currently operating as a Texas based securities broker. He has worked in the securities industry for thirty years. During his career, he has been registered with six different securities firms.

His Registrations

  • Baraban Securities (1987-1990)
  • Dominion Capital Corporation (1991-1998)
  • Nothstar Securities (1998-2001)
  • Rushmore Securities Corporation (2001-2002)
  • VSR Financial Services (2002-2016)
  • Calton & Associates (2016-Present)

The Allegations

  • In July 1999, customers alleged that Mickey Long purchased investments that were unsuitable for them. This case was settled for $63,000 in damages.
  • In July 2000, a customer alleged that Micky Long violated security laws and handled their account negligently. This case was settled for $65,000 in damages.
  • In April 2011, a customer alleged negligence, breach of fiduciary duty and breach of contract. This case was settled for $235,000 in damages.
  • In May 2015, a customer alleged that Mickey Long made unsuitable investment recommendations, violated common law, breached his fiduciary duty, and handled their account negligently. This case was settled for $82,500 in damages.
  • In November 2015, a customer alleged unsuitability. This case was settled for $196,500 in damages.
  • In January 2017, a customer alleged unsuitability and misrepresentation. This case is currently pending. The customer is seeking $149,200 in damages.

What Does This Mean?

One of the most common allegations levied against Mickey Long was that he made unsuitable investment recommendations. Securities brokers have a legal obligation to only recommend securities to customers that are suited for them. This suitability is determined by factors that include the customer’s financial situation, investment objectives, risk tolerance, and liquidity needs. Securities brokers, like Mickey Long, are expected to conduct the necessary due diligence required to discern a customer’s suitability by analyzing the above mentioned factors. Investors who believe they have lost money due to their securities broker’s unsuitable investment recommendations 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 Mickey Long, please contact Oakes & Fosher for a free and private consultation.