The Frankowski Firm is investigating potential claims against Oppenheimer & Co., Inc. and its broker James Forsythe, of New York, NY, following a FINRA arbitration panel’s award of $800,000 against Oppenheimer and in favor of its customer for whom Mr. Forsythe was a broker.

According to the customer’s complaint, Forsythe and Oppenheimer executed unauthorized trades in the customer’s accounts and placed the claimant in unsuitable investments, including the IShares Russell 2000 Index puts and calls, ProShares Short S&P 500 ETFs, and the Global Chartist Fund, LLC. Each of these investments engaged in sophisticated and speculative trading, including betting against the S&P 500 on the one hand, and in other cases taking short and long positions in small-cap equities and using derivative investments like swaps and futures.

The panel found in the customer’s favor in an award of $800,000 while also denying the Respondent’s request to expunge (or clear) the FINRA BrokerCheck record of Mr. Forsythe and Carter Worth, who the claimant alleged “instructed” the broker (Mr. Forsythe) regarding the claimant’s accounts. Mr. Forsythe’s FINRA BrokerCheck report shows four additional customer complaints which include allegations of unsuitability, unauthorized trading, and/or churning.

If you or someone you know lost money as a client of James Forsythe or Oppenheimer & Co., Inc. due to unsuitable, misrepresented, or unauthorized transactions, please call the Frankowski Firm at 888.741.7503 or fill out this contact form.