Losses From Oppenheimer Brokers Daniel Katz, Anatole Forostenko, Eric Willer?

Soreide Law Group is investigating claims of sales practice violations including misrepresentation and suitability on behalf of customers who invested with Oppenheimer & Co. Inc. (CRD#: 249, New York, New York) securities brokers and financial advisors including Daniel Katz, Anatole Forostenko and Eric Willer. Here is a summary of disputes involving those brokers:

February 28, 2018 Arbitration Involving Daniel Katz

Daniel Lawrence Katz (CRD#: 4830089, Florham Park, New Jersey) is a prior securities representative of Oppenheimer who was employed from June 26, 2009 to May 5, 2007. Daniel Katz revealed on his Financial Industry Regulatory Authority (“FINRA”) BrokerCheck Report that one of his Oppenheimer customers complained about his sales practices. Specifically, on February 5, 2018, the customer filed FINRA Arbitration #18-00479. Notably, the customer alleged that Daniel Katz made unsuitable purchases of Puerto Rico Bonds for the customer’s investment account. Person’s allegedly inappropriate transactions occurred between June 2009 and May 2017. Allegedly, Daniel Katz’s government-debt investments caused the customer losses. Accordingly, the customer alleged $400,000.00 in damages. However, this matter is still undecided. Daniel Katz is currently a securities representative of Purshe Kaplan Sterling Investments.

June 27, 2017 Arbitration Concerning Anatole Forostenko

Anatole A. Forostenko (CRD#: 1173492, New York, New York) has been an Oppenheimer securities representative since March 24, 2009. The FINRA BrokerCheck Report for Anatole Forostenko shows that a customer disputed his sales practices. Particularly, on June 27, 2017, a customer of both Oppenheimer and Smith Barney named Anatole Forostenko in FINRA Arbitration #18-02396. That customer primarily claimed that between 2008 and 2016, Anatole Forostenko did not follow the customer’s instructions concerning common and preferred stock investments. Because of this, the customer alleged $500,000.00 in damages. Although the customer’s claim of Anatole Forostenko disregarding the customer’s instructions may hold true, the claim is currently pending.

April 9, 2018 Arbitration Pertaining To Eric Willer

Eric Dennis Willer (CRD#: 2687217, Palm Beach Gardens, Florida) is another of Oppenheimer’s securities brokers who has disclosed a customer dispute on his FINRA BrokerCheck Report. He disclosed that an Oppenheimer customer brought FINRA Arbitration #18-01306 on April 9, 2018. First, the customer contended that Eric Willer did not inform the customer about the terms, conditions or risks of commodities funds and a master limited partnership interest. Second, the customer stated that Eric Willer made unauthorized purchases of limited partnerships and oil & gas investments beginning in 2013. However, by 2018, the customer apparently suffered losses of $90,000.00. Therefore, the customer has alleged damages of $90,000.00 because of Eric Willer’s unauthorized investment purchases and omissions. Not long after the customer filed the arbitration, on November 9, 2018, Oppenheimer disaffiliated with Eric Willer.

Oppenheimer’s 265 Disclosures Concerning Misconduct Allegations

Oppenheimer is both a brokerage firm regulated by FINRA and investment adviser firm regulated by the Securities and Exchange Commission (“SEC”). According to FINRA BrokerCheck, Oppenheimer has made 265 disclosures involving allegations and findings against the firm of sales practice violations and regulatory infractions. Oppenheimer has also been named in many more customer-initiated, investment-related disputes relating to allegations against its own brokers of sales practice violations.

Lars Soreide Highest Ethical Standard Award 2018

Lars Soreide Highest Ethical Standard Award 2018

If you have experienced losses by investing with Oppenheimer brokers Daniel Katz, Anatole Forostenko and Eric Willer, contact Soreide Law Group at (888) 760-6552 and speak with experienced counsel about a possible recovery of your investment losses. Soreide Law Group represent clients on a contingency fee basis and advance all costs. The firm has recovered millions of dollars for investors who have suffered losses due to misconduct of brokers and brokerage firms.