Michael Lackwood Facing Spring Delta Asset Management Clients’ Unsuitable Advice Disputes

Investors reportedly complained about securities broker Michael Alexander Lackwood Jr. [CRD: 4742917, Rockaway, New Jersey], according to disclosures on FINRA BrokerCheck. Evidently, Lackwood worked for Oppenheimer Co. Inc. from September 6, 2011, to July 12, 2018, and APW Capital Inc. from August 10, 2018, to April 30, 2020. Read on to discover more about the disclosures involving Lackwood and his former clients.

Spring Delta Asset Management Investor Accused Lackwood Of Unsuitable Recommendations

Particularly, on February 5, 2025, a Spring Delta Asset Management client filed a complaint about Michael Lackwood. Primarily, the client alleged that Lackwood gave unsuitable advice about leveraged exchange-traded funds and options. For this reason, the client allegedly sustained damages. As a result, the client requested $351,089.00 in compensation from Spring Delta Asset Management or Lackwood.

Michael Lackwood Disclosed Unsuitable Trading Allegations By Spring Delta Asset Management Client

Additionally, a client of Spring Delta Asset Management disputed Michael Lackwood’s sales practices, according to a complaint. Allegedly, Lackwood engaged in unsuitable trading that resulted in losses on options. Consequently, Spring Delta Asset Management opted to settle the matter on November 1, 2023, by compensating the client in the amount of $80,000.00.

Spring Delta Asset Management Investor Accused Lackwood Of Trading Errors

Also, a client filed a complaint about Michael Lackwood. Mainly, the client alleged that Lackwood made misrepresentations and engaged in unauthorized trading relating to options. Therefore, on April 12, 2023, Spring Delta Asset Management settled this matter by paying the client $27,500 in damages.

Michael Lackwood Disclosed Misrepresentation Allegations By Oppenheimer Co. Inc. Client

Specifically, a client of Oppenheimer Co. Inc. contested Michael Lackwood’s sales practices by bringing FINRA Arbitration No. 19-01308. Allegedly, Lackwood engaged in unsuitable trading, failed to follow instructions to sell, and made misrepresentations. Supposedly, Lackwood also acted negligently and breached his fiduciary duty. As a result, the client sustained damages connected to stocks and options. Consequently, Oppenheimer Co. Inc. opted to settle the matter on September 30, 2020, by compensating the client in the amount of $115,000, of which Oppenheimer Co. Inc. paid $90,000 and Lackwood personally contributed $25,000.

Have You Made Investments Through Securities Broker Lackwood?

Do you need clarification on any investment losses relating to Michael Lackwood? If so, reach out to Soreide Law Group at (888) 760-6552 or online and consult with a securities lawyer concerning a potential recovery of your investment losses. Soreide Law Group has recovered losses for investors throughout the country. Also, the firm takes cases on a contingency fee arrangement and advances all costs. Lackwood and brokerage firms Lackwood worked for deny allegations of sales practice violations.