Oppenheimer Clients File Investment Disputes About Michael Greenfield
Soreide Law Group is reviewing whether to bring possible investor lawsuits against securities broker Michael Robert Greenfield (CRD#: 5406611, Boca Raton, Florida). Namely, Financial Industry Regulatory Authority (“FINRA”) reports that eight investors filed complaints or FINRA Arbitration Claims in regard to his sales practices. These disputes allege breach of fiduciary duty, negligence and more. Let’s take a closer look at some of the recent disclosures on Greenfield’s record.
Oppenheimer Client Alleges Negligence, Breach Of Fiduciary Duty
Evidently, Michael Greenfield worked for Oppenheimer Co. between 2013 and 2016. A client of Oppenheimer filed a lawsuit about him in January 2020. First of all, the client alleged negligence in connection with their oil and gas master limited partnership transactions. Secondly, Oppenheimer supposedly failed to supervise Greenfield’s actions. Thirdly, the client alleged breach of fiduciary duty and breach of contract. Finally, the complaint makes allegations of the violation of FINRA rules in regard to the energy securities. For this reason, Oppenheimer and Foreside Fund Services collectively agreed to pay the client $37,500 to resolve this matter in December 2020.
Michael Greenfield Supposedly Sells Bad Master Limited Partnerships, Bonds To Oppenheimer Client
Evidently, BrokerCheck shows that an Oppenheimer client sued in January 2020 in regard to Michael Greenfield’s MLP and Puerto Rico bond sales. Supposedly, Greenfield acted negligently in regard to the client’s investments. Moreover, the client alleged that Greenfield or his employers violated a contract and violated FINRA rules with respect to these securities transactions. It appears that the client sustained losses on investments that they held from 2013 to 2016. For this reason, Oppenheimer opted to pay the client $18,750 to settle this matter.
Oppenheimer Investor Alleges Breach Of Contract In Dispute About Securities Broker
Moreover, a client of Oppenheimer filed a lawsuit in January 2019 in regard to Michael Greenfield. That dispute alleges that Greenfield sold master limited partnerships in breach of contract and breach of fiduciary duty. Supposedly, Oppenheimer and Foreside Fund Services negligently supervised Greenfield which led to this result. For this reason, the securities firm opted to settle the matter through making a $75,000 payment to the client in November 2020.
Morgan Stanley Client Alleges Unsuitability, Misrepresentation In Dispute About Greenfield
Moreover, Michael Greenfield’s sales practices became the focus of a dispute brought by investors who held accounts at GMS Group, Morgan Stanley and Oppenheimer. First of all, the investors indicated that Greenfield engaged in unsuitable trading. Secondly, the securities broker allegedly breached a written and oral contract. Thirdly, the client alleged that the securities firms failed to supervise his municipal debt sales. Finally, Greenfield supposedly misrepresented and omitted information in connection with Puerto Rico bond transactions. For this reason, the client received $15,000 to settle this matter in October 2019.
Losses From Investing In Alternative Investments Through Michael Greenfield?
Apparently, Michael Greenfield denies allegations of his sales practice violations. Have you experienced losses by investing with him? If so, reach out to Soreide Law Group at (888) 760-6552 and speak with experienced counsel concerning a possible recovery of your investment losses. Soreide Law Group represents clients on a contingency fee basis and advances all costs. The law firm has recovered millions of dollars for clients who have incurred losses due to the actions of securities brokers and financial advisors.