Investors Sue Oppenheimer For Misrepresentation

FINRA Securities Arbitration Lawyers

Timothy Roger Atyeo of Fort Lauderdale Florida a stockbroker currently employed by Oppenheimer Co. Inc. is the subject of a customer initiated investment related arbitration claim where the customer sought $1,100,000.00 in damages founded on allegations that (1) misrepresentations had been made to the customer (2) fiduciary obligations were breached (3) the customer’s account was handled in a negligent manner and (4) the customer’s account had been overconcentrated in risky energy-sector investments including master limited partnerships and oil and gas products while Atyeo was associated with Oppenheimer Co. Inc. Financial Industry Regulatory Authority (FINRA) Arbitration No. 19-01857 (July 1, 2019).

FINRA Public Disclosure confirms that Atyeo has been identified in three additional customer initiated investment related disputes containing accusations of his misconduct when he was associated with Oppenheimer Co. Specifically, a customer initiated investment related arbitration claim concerning Atyeo’s activities was settled to resolve allegations that the customer was falsely told that the investments in auction rate securities were equivalent to cash investments; and the customer sustained unwarranted illiquidity or losses after being induced by Atyeo to purchase those auction rate securities.

Atyeo is referenced in another customer initiated investment related arbitration claim which was settled for $30,000.00 in damages based upon accusations that margin had been inappropriately utilized to effect stock trades in the customer’s account; and recommendations made by Atyeo were in no way suitable for the customer. FINRA Arbitration No. 16-00886 (Apr. 5, 2017). Also, on June 21, 2017, a customer filed an investment related complaint concerning Atyeo’s conduct in which the customer requested $4,000,000.00 in damages supported by allegations of unsuitability given the overconcentration of the customer’s assets in speculative and risky mutual fund, stock and corporate debt investments which generated losses for the customer’s account during the period in which Atyeo was employed by Oppenheimer Co. Inc.

Atyeo has been registered with Oppenheimer Co. Inc. since January 3, 2003.