May 2019 – Dallas, TX
We recently filed a FINRA arbitration claim on behalf of a resident of Carrollton, Texas, against Oppenheimer & Co. , which seeks damages for the mishandling of an investment account by former Oppenheimer financial advisor Michael A. Lackwood.
The Financial Industry Regulatory Authority (FINRA) is the agency that licenses and regulates stockbrokers and brokerage firms. FINRA requires brokers and brokerage firms to report customer complaints and disputes as well as regulatory sanctions. In addition brokers are required to disclose certain financial matters such as personal bankruptcies, judgments and liens.
Suit Alleges Lackwood Made Unauthorized & Risky Trades
The arbitration suit alleges that Lackwood made unsuitable recommendations including short term trading and a risky option trading strategy that resulted in substantial losses. The claim seeks damages of between $100,000-$500,000.
According to FINRA records, Lackwood was registered with Oppenheimer from 9/2011-7/2018. He is currently registered with APW Capital whose main office is located in Rockaway, NJ. Earlier in his career Lackwood was employed by Merrill Lynch where he was discharged in 8/2011 for conduct in connection with loans made by certain clients to other Merrill clients and to third parties. Lackwood discloses a business affiliation with Spring Delta Asset Management in New York.
If you have questions about an investment account handled by Michael Lackwood contact us for a no charge consultation to learn about your legal options for recovery of damages.
Rex Securities Law , with offices in Boca Raton, FL, and Austin, TX, provides representation to investors nationwide who are seeking recovery of investment losses due to the negligence or fraud of stockbrokers and broker dealers. If you have questions about how your account has been handled, call to speak with an experienced securities attorney.
Most cases handled on a contingent fee basis meaning that you do not pay legal fees unless we are successful.
Florida-561 391 1900