William Ornstein is a Florida based securities broker. He has worked in the securities industry for thirty-nine years. During his career, he has been registered with nine different securities firms.
His registrations include; Halpert, Oberst and Company (1976-1978), Mclaughlin, Piven Inc. (1978), Baird, Patrick & Co. (1978-1987), First Monmouth Securities Corp. (1987-1989), First Interregional Equity Corp. (1989-1997), Rickel & Associates (1997), Atlantic Group Securities (1997-1998), Herbert J. Sims & Co. (2001), and The GMS Group (2001-Present).
William Ornstein’s publicly available FINRA BrokerCheck report shows that he has received multiple customer complaints over the course of his career.
In June 1995, a customer alleged unsuitable investment recommendations and misrepresentation. This case was settled for $10,000 in damages.
In June 1998, a customer alleged breach of fiduciary duty against William Ornstein. This case was settled for $30,000 in damages.
In March 1999, a customer alleged common law fraud, aiding and abetting common law fraud, breach of fiduciary duty, negligent misrepresentation, federal securities fraud, unsuitability, negligence, gross negligence, investor advisor malpractice, and unjust enrichment. This case was settled for $30,000 in damages.
In October 2001, a customer alleged misrepresentation and omission of material facts concerning the sale of equipment leases and certain other securities to these clients. The customer also alleged breach of fiduciary duty, fraud, and unjust enrichment. This case was settled for $10,000 in damages.
In November 2007, a customer alleged that her account was mishandled by William Ornstein. The alleged transgressions taking place between 2004 and 2007.
In December 2008, a customer alleged that Ornstein did not provide a complete description of a bond purchased. This case was settled for $5,000 in damages.
In June 2009, a customer alleged unauthorized trading, unsuitable trading, breach of fiduciary obligations, and material misrepresentations. This case was settled for $675,000 in damages.
In November 2009, a customer alleged unsuitable investment recommendations. This case was settled for $5,000 in damages.
In November 2015, a customer alleged fraudulent sales practices and over-concentration. The alleged transgressions taking place between 2011 and 2015. This case was settled for $36,750 in damages.
In February 2019, a customer alleged negligence, misrepresentation, breach of fiduciary duty, deception, and exploitation. This case is currently pending. The customer is seeking $250,000 in damages.
In March 2019, a customer alleged negligence and breach of fiduciary duty. This case is currently pending. The customer is seeking $100,000 in 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 William Ornstein, please contact Oakes & Fosher for a free and private consultation.