Oppenheimer Sued For $1M Over Alleged Bad Client Advice

Law360, Dallas (January 15, 2013, 8:24 PM EST) -- A Texas investor launched a suit in state court Friday alleging Oppenheimer & Co. Inc. and three of its financial advisers gave him bad advice and forced him into high-risk margin investments, and seeks more than $1 million, including a return of all fees he paid to the company.

Quinn Laukel alleges Oppenheimer and the advisers used him as a “gravy train,” faulting the company for making excessive trades to gin up higher commissions while he lost $3 million to $4 million. He says the stockbrokers...
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