Tag Archives: Sterne Agee & Leach

Oppenheimer Ordered to Pay Customer $800,000 For Unauthorized and Unsuitable Trading

June 2018-Chicago, Illinois

A FINRA (Financial Industry Regulatory Authority)  arbitration panel ordered brokerage firm Oppenheimer & Co. to pay a customer $800,000 in compensatory damages.

The customer alleged that Oppenheimer brokers James Forsythe and Carter Worth executed unauthorized trades in his accounts and made unsuitable investments in IShares Russell 2000 Index puts and calls, Proshares Trust PSHS Short S&P 500 ETFs and the Global Chartist Fund, LLC. FINRA Case 16-3687, Dekas v. Oppenheimer & Co. 

According to his FINRA records, James Forsythe has been registered with Oppenheimer since 1/2003 and he has 5 other customer disputes.

The FINRA records of Carter Worth disclose that he was employed by Oppenheimer from 10/2004-2/2014, then with Sterne, Agee & Leach 2/2014-2/2015. He is currently employed by Cornerstone Macro in New York.

If you have losses in an account handled by Carter Worth, James Forsythe or other Oppenheimer broker, call to learn how you may be able to recover damages through FINRA arbitration.

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.

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