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

Roger Price was a North Carolina based securities broker. He worked in the securities industry for thirty-eight years. During his career, he was registered with four different securities firms.

His Registrations

  • Dean Witter Reynolds (1978-1980)
  • Wachovia Securities (1980-2000)
  • Morgan Keegan & Company (2000-2009)
  • Next Financial Group (2009-2017)

The Allegations

  • In November 2018, a customer alleged that Roger Price made unsuitable investment recommendations. This case went to arbitration where the customer was awarded $24,170 in damages.
  • In September 2000, a customer alleged that Roger Price churned their account and recommended unsuitable investments.
  • In February 2002, a customer alleged that Roger Price recommended an unsuitable mutual fund.
  • In February 2003, a customer’s daughter alleged that Roger Price recommended unsuitable investments that led to significant losses.
  • In March 2017, Roger Price was discharged from his position at NEXT Financial Group following allegations that he exercised discretion without written authorization from customers. He also allegedly falsely reported the “order received date and time” for said clients.
  • In October 2017, a customer alleged that Roger Price recommended unsuitable and speculative corporate bonds. This included round trip trading. This case was settled for $225,000 in damages.

What is Round Trip Trading?

Round trip trading is a deceptive trading practice in which less than scrupulous securities brokers continuously sell and repurchase the same security in order to give the appearance to customers that the investment is in high demand. This practice is highly fraudulent as it leads to investors purchasing securities based on misinformation. Because this can lead to investors becoming invested in securities that can be unsuitable for them, it can very easily result in significant financial 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 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 Roger Price, please contact Oakes & Fosher of 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.