The law firm of Oakes & Fosher is presently investigating the alleged misconduct of securities broker Robert Disman. According to his publicly available FINRA BrokerCheck report, Robert Disman has been the subject of multiple customer disputes over the course of his career.
Robert Disman is a Nevada based securities broker. He has worked in the securities industry for thirty-seven years. During his career, he was registered with seven different securities firms.
His Registrations
- Wedbush, Noble, Cooke, Inc. (1981-1982)
- E.F. Hutton & Company (1982-1988)
- Shearson Lehman Hutton Inc. (1988)
- Dean Witter Reynolds Inc. (1988-1992)
- Painewebber Incorporated (1992-2000)
- Merrill Lynch (2000-2009)
- Raymond James (2009-Present)
The Allegations
- In January 2000, a customer alleged that Robert Disman executed unauthorized trades. This case was settled for $54,600.
- In September 2017, a customer alleged that Disman recommended unsuitable investments, breached his fiduciary duty, failed to diversify their portfolio, managed their account negligently, made material misrepresentations, over-concentrated their account, and failed to disclose material facts. This case was settled for $38,000 in damages.
What Does This Mean?
Misrepresentation is a very serious charge, as it can often result in very serious financial harm to an investor. Essentially, misrepresentation occurs when a securities broker provides an investor with information that has been falsified or obscured in some manner. This can be either on purpose, in an attempt to defraud the investor, or by accident through the broker’s negligence. In this case, customers were also alleging that Disman had omitted facts regarding investments. Regardless of the broker’s intent, misrepresentation can cause significant losses in an investor’s account 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 Disman, 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.
