The law firm of Oakes & Fosher is presently investigating the alleged misconduct of securities broker Marsha Lee. According to her publicly available FINRA BrokerCheck report, Marsha Lee has been the subject of a customer dispute during her career.

Marsha Lee is a California based securities broker. She has worked in the securities industry for thirty-eight years. During her career, she has been registered with six different securities firms.

Her Registrations

  • Sutro & Co. Incorporated (1982-1986)
  • Bateman Eichler, Hill Richards, Incorporated (1986)
  • Merrill Lynch (1986-1989)
  • Lehman Brothers (1989-1991)
  • First Affiliated Securities (1991-1995)
  • First Allied Securities (1995-Present)

The Allegations 

In October 2018, customers alleged that Marsha Lee recommended unsuitable investments to them. They also alleged that Marsha Lee breached her fiduciary duty, made material misrepresentations, engaged in unfair practices, and handled their account negligently. This case was settled for $125,000 in damages.

What Does This Mean?

Securities brokers have a duty to their customers to always act in their customers’ best financial interests. The most important aspect of this is determining what investments are actually suitable for their customers. Brokers, like Marsha Lee, can determine this suitability by looking at important determining factors specific to the investor. These factors include; the customer’s investment objectives, age, financial situation, risk tolerance, and liquidity needs. Brokers who are unable to discern suitability by analyzing these factors lack the ability to perform their duties to the necessary standard required for their position.

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 Marsha Lee, please contact Oakes & Fosher for a free and private consultation. We work on a contingency basis, which means there are no fees charged unless we collect for you.