Investors Bring Unauthorized Trading Claim Against Oppenheimer

Lawyers for Elder Financial Abuse

Zachary William Shapiro (also known as Zak William Shapiro) of Los Angeles California a stockbroker formerly associated with Oppenheimer Co. Inc. has been referenced in a customer initiated investment related arbitration claim in which the customer requested $287,074.00 in damages supported by allegations that (1) the customer’s account had been churned by the stockbroker for purposes of accumulating commissions from the customer and (2) unauthorized and excessive transactions were effected in the customer’s account by Shapiro during the time that he was associated with Oppenheimer. Financial Industry Regulatory Authority (FINRA) Arbitration No. 19-02731 (Oct. 1, 2019).

FINRA Public Disclosure reveals that Shapiro has been referenced in four more customer initiated investment related disputes concerning accusations of his misconduct when he was associated with securities broker dealers including Oppenheimer. On February 23, 2016, a customer filed an investment related complaint in reference to Shapiro’s conduct where the customer sought unspecified damages based upon accusations that mutual fund purchases were unsuitable for the Oppenheimer customer.

On February 23, 2016, another customer filed an investment related complaint involving Shapiro’s conduct in which the customer requested compensatory damages based upon allegations that transactions effected in the customer’s account were inappropriate and had lacked the customer’s knowledge or consent when Shapiro was associated with Oppenheimer.

Shapiro’s employment with Oppenheimer was terminated on October 13, 2017. He has been employed by Ameriprise Financial Services LLC since October 11, 2017.