In March 2023, a former client of Oppenheimer & Co., Inc. won an award in a FINRA arbitration for compensatory damages for $1,483,670 for losses sustained from investments in the Horizon Private Equity III fund. The claimants originally sought $2.5 million in damages, which included compensatory damages, punitive damages, costs, attorneys’ fees, and other damages.
The causes of action included violations of FINRA supervision rules; breach of the duty of good faith and fair dealing; breach of fiduciary duty; violation of the California Welfare & Institutions Code; and respondeat superior/agency by estoppel liability. The causes of action are related to the private equity fund Horizon Private Equity III. The FINRA arbitration hearing was conducted in Los Angeles, California.
Pursuant to FINRA Rules, member firms are responsible for supervising a broker’s activities during the time the broker is registered with the firm. Therefore, Oppenheimer & Co., Inc. may be liable for investment or other losses suffered by its customers.
How to File a Claim Against Oppenheimer & Co., Inc.
Erez Law represents investors in the United States for claims against brokers and brokerage firms for wrongdoing. If you have experienced investment losses, please call us at 888-840-1571 or complete our contact form for a free consultation. Erez Law is a nationally recognized law firm representing individuals, trusts, corporations and institutions in claims against brokerage firms, banks and insurance companies on a contingency fee basis.
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