The law firm of Oakes & Fosher is presently investigating the alleged misconduct of former securities brokers Thomas Sova. According to his publicly available FINRA BrokerCheck report, Thomas Sova has been the subject of a customer dispute.

Thomas Sova was a Louisiana based securities broker. He worked in the securities industry for forty-six years. During his career, he was registered with eleven different securities firms. He is no longer working as a registered securities broker in any fashion.

His Registrations

  • Western Reserve Financial Services Corp. (1969-1971)
  • The Minnesota Mutual Life Insurance Company (1971-1972)
  • North Star Equities Company (1971-1972)
  • Investplans, Inc. (1974-1976)
  • Anchor National Financial Services (1976-1977)
  • Chubb Securities Corporation (1977-1982)
  • Securities Management & Research (1981-1984)
  • The Mutual Life Insurance Company of New York (1979-1985)
  • Mony Securities Corp. (1979-1985)
  • 1717 Capital Management Company (1984-2007)
  • Hornor, Townsend & Kent (2007-2018)

The Allegations

In April 2018, a customer alleged that Thomas Sova sold them an unapproved and unregistered security. This case was settled for $45,000 in damages. He was terminated from his position at Hornor, Townsend & Kent in June 2018 following the allegations. He was eventually sanctioned by FINRA due to the allegations. He was fined $5,000 in addition to having to repay an additional $5,000 in disgorgement. He was also suspended from acting as a registered securities broker in any fashion for a period of five months.

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 Thomas Sova, 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.