The law firm of Oakes & Fosher is currently investigating the possible misconduct of securities broker Robert Cleary. According to his FINRA BrokerCheck report, Robert Cleary has been the subject of multiple customer complaints throughout his career.

Robert Cleary is a New York 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

  • Lehman Brothers (1986-1993)
  • Gruntal & Co. (1993-2002)
  • Ryan Beck & Co. (2002-2007)
  • Stifel, Nicolaus & Company (2007-Present)

The Allegations

  • In August 2016, a customer alleged that they experienced losses due to unsuitable investment recommendations from Robert Cleary. This case was settled for $40,000 in damages.
  • In May 2018, a customer alleged that Robert Cleary breached his fiduciary duty, handled their account negligently, and breached contract. This case is currently pending. The customer is seeking $300,000 in damages.

Breach Of Contract

Before investors and securities brokers can begin their professional relationship, both sides adhere to a contract. This is meant to protect both the investor and broker in instances where the opposite party defaults. When securities brokers engage in behavior that this contract stated they would not engage in, they have now breached this contract. In many cases this can result in the customer experiencing losses.

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 of the matter 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 Cleary, 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.