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

Walter Stallones is a Texas-based securities broker. He has worked in the securities industry for fifty-two years. During his career, he has been registered with eight different securities firms.

His Registrations

  • E.F. Hutton & Company (1967-1986)
  • Rauscher Pierce Refsnes (1986-1987)
  • Boettcher & Company (1987-1988)
  • Lovett Underwood Neuhaus & Webb Inc. (1988-1990)
  • First Union Securities (1990-2001)
  • Riverstone Wealth Management (2001-2005)
  • Southwest Securities (2005-2010)
  • Hilltop Securities Independent Network (2010-Present)

The Allegations

  • In January 1980, a customer alleged that Walter Stallones gave them poor advice for stock picks. This case was settled for $12,500 in damages.
  • In June 1996, a customer alleged that Walter Stallones made material misrepresentations and recommended unsuitable investments in connection with Interdigital Communications Corp. This case was settled for $26,500 in damages.
  • In June 1997, a customer alleged that Walter Stallones recommended unsuitable investments, executed unauthorized trades, excessively traded their account, and committed fraud. This case was settled for $31,175 in damages.
  • In May 2001, Walter Stallones was terminated from his position at First Union Securities following alleged rule violations.
  • In September 2010, customers of Walter Stallones alleged he committed fraud, engaged in civil conspiracy, violated the Texas Securities Act, managed their account negligently, and made material misrepresentations. This case was settled for $3,850,000 in damages.
  • In February 2013, a customer alleged that Walter Stallones committed fraud, made negligent misrepresentations, breached contract, and breached his fiduciary duty. This case was settled for $765,000 in damages.

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 Walter Stallones, 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.