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

Stan Leavitt is a California based securities broker. He has worked in the securities industry for twenty-four years. During his career, has been registered with six different securities firms.

His Registrations

  • Sentra Securities Corporation (1994-1995)
  • Sun Investment Services Company (1995-1997)
  • AIG Equity Sales Corp. (1997-1998)
  • Cadaret, Grant & Co. (1998)
  • Merrill Lynch (1998-2017)
  • Ameriprise Financial Services (2017-Present)

The Allegations

  • In July 2018, a customer alleged that Stan Leavitt made material misrepresentations. This case was settled for $17,509 in damages.
  • In October 2018, a customer alleged that Stan Leavitt committed Arizona securities fraud, made material misrepresentations and omissions of material fact, managed their account negligently, breached his fiduciary duty, breached trust, breached agency, and committed consumer fraud. This was all in connection to a call option using Intel Corporation stock. This case went to arbitration where the customer was awarded an undisclosed amount in damages.

What Does This Mean?

Options trading is incredibly complicated and is really only suitable for certain types of investors. Many securities brokers take advantage of their complicated nature when managing an investor’s portfolio by hoping they can purchase them without the customer asking too many questions. Complex languauge and numbers can disguise options trading as a suitable investment strategy and make investors believe that the securities broker is working in their best interest–which is not always the case.

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 Stan Leavitt, 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.