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 be entitled to damages. The law firm of Oakes & Fosher is interested in hearing from investors who believe that this may be them.

Oakes & Fosher is currently investigating securities broker William Campbell. According to his publicly available FINRA BrokerCheck report, William Campbell has been the subject of multiple customer disputes over the course of his career.

William Campbell is presently operating as a New York based securities broker. He has worked in the securities industry for nineteen years. During his career, he has been registered with four different securities firms.

His Registrations

  • Pruco Securities Corporation (1992-1993)
  • Robert W. Baird & Co. (2000-2002)
  • Northwestern Mutual Investment Services (2000-2002)
  • David Lerner Associates (2002-Present)

The Allegations

  • In December 2011, a customer alleged that William Campbell made unsuitable investment recommendations and misrepresented investment details. This case was settled for $10,000 in damages.
  • In June 2013, a customer alleged unsuitability and misrepresentation. This case was settled for $180,000 in damages.
  • In July 2019, a customer alleged that William Campbell recommended unsuitable securities, made material misrepresentations and omissions, and breached his fiduciary duty. This case is currently pending. The customer is seeking $120,000 in damages.

What Does This Mean?

One of the most noteworthy allegation levied against William Campbell was that he made unsuitable investment recommendations. Securities brokers have a legal obligation to only recommend securities to customers that are suited for them. This suitability is determined by factors that include the customer’s financial situation, investment objectives, risk tolerance, and liquidity needs. Securities brokers, like William Campbell, are expected to conduct the necessary due diligence required to discern a customer’s suitability by analyzing the above mentioned factors. Investors who believe they have lost money due to their securities broker’s unsuitable investment recommendations may be entitled to damages.

Oakes & Fosher Can Help

Oakes & Fosher dedicates its entire legal practice to helping investors across the nation. If you, or someone you know, have lost money investing with William Campbell, please contact Oakes & Fosher for a free and private consultation.