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

Robert Clarke is a Texas-based securities broker. He has worked in the securities industry for thirty-seven years. During his career, he has been registered with thirteen different securities firms.

His Registrations

  • Bache Halsey Stuart Shields (1981-1982)
  • Crews & Associates (1982-1983)
  • Lasater & Company (1983-1984)
  • First Investment Securities (1985-1987)
  • TMA Government Securities (1987)
  • Westcap Securities (1987-1988)
  • JW Charles Securities (1989-1990)
  • Ruan Securities Corporation (1988-1992)
  • Geneva Securities (1990-1995)
  • The G.M.S. Group (1995)
  • Mesirow Financial (1995)
  • Ross, Sinclaire & Associates (1995-2017)
  • National Alliance Securities (2017-Present)

The Allegations

  • In April 2014, a customer alleged Robert Clarke made an unsuitable investment recommendation. The customer also alleged that Clarke managed their account negligently and breached his fiduciary duty. This case was settled for $77,205 in damages.
  • In March 2016, a customer alleged that Robert Clarke made material misrepresentations and recommended unsuitable investments. This case was settled for $120,000 in damages.
  • In August 2017, customers alleged that Robert Clarke made material  misrepresentations. This case was settled for $125,000 in damages.
  • In December 2018, a customer alleged that mortgage-backed securities that Robert Clarke had recommended were not suitable for them. This case was settled for $30,000 in damages.

Misrepresentation

Misrepresentation occurs whenever a securities broker makes any false assertion to an investor about an investment or potential investment. This can occur either by accident due to the broker’s own negligence, or on purpose due to the broker’s intent to defraud the investor. Regardless of the investor’s intent, misrepresentation can cause significant financial harm 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 Robert Clarke, 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.