Last updated June, 2024
Former Oppenheimer & Co. Investment Advisor, Kenneth H. South, Charged with Claims of Financial Fraud
Kenneth H. South (aka, Ken South) (CRD # 1387390) is a FINRA-registered broker and investment advisor currently associated with LPL Financial LLC and formerly associated with Oppenheimer & Co. in Newport Beach, CA. South has been accused of misconduct by clients during his tenure at Oppenheimer & Co., Inc. 4 times and was discharged by Smith Barney (then a subsidiary of Citigroup, but now known as Morgan Stanley Wealth Management) in 2006 for incorrectly marking sales orders in discretionary accounts. FINRA BrokerCheck lists several claims against Ken South:
Complaints against Financial Advisor Ken South
According to BrokerCheck by FINRA (BrokerCheck is a free tool from FINRA that can help you research the professional backgrounds of brokers and brokerage firms and uncover customer complaints and legal actions), Kenneth South has had 9 disclosures levied against him since 1993. Disclosures can be customer complaints or arbitrations, regulatory actions, employment terminations, bankruptcy filings, and certain civil or criminal proceedings that they were a part of.
Between 2006 and 2021 Ken South was employed by Oppenheimer & Co., Inc. and was subject to 4 disclosures during his tenure at that firm. Here is a summary of the complaints against Ken South during his employment at Oppenheimer & Co., Inc.
Complaints against Ken South while he was employed at Oppenheimer & Co.
- In January 2021, South was charged with executing an unauthorized sale in the customer’s discretionary account in November 2020, resulting in unspecified damages.
- In November 2017, a customer alleged that South made unsuitable investments resulting in losses of approximately $160,000. The customer received an arbitration award of $25,000.
- In August 2008, South was accused of executing an unauthorized sale of auction rate securities in a customer account, resulting in losses of $42,500.
- In December 2006, a customer alleged that South made unsuitable investments over three months resulting in losses of approximately $23,600.
Complaints against Ken South while he was employed at Smith Barney (Citigroup)
Between 1993 and 2008, Ken South was employed by Smith Barney (then a subsidiary of Citigroup) and received 4 disclosures during his tenure with the company.
- On March 18, 2006, Smith Barney (Citigroup) terminated Ken South for marking tickets unsolicited when the trades were on a discretionary basis to effectuate the sale of Citigroup stock.
- In August 2004, while South was employed at Citigroup, a client alleged misrepresentation concerning equity, resulting in unspecified losses.
- In February 2003, a client accused South of failing to follow instructions and making unsuitable investments from 1999 through 2002, resulting in losses of $120,000.
- In June 1994, South was charged with misrepresentation, excessive trading, breach of fiduciary duty, and breach of contract in connection with options and securities transactions while employed at Citigroup, resulting in losses of approximately $71,000. FINRA rendered an award in the amount of $15,000 against South and $5,000 against the firm.
Complaints against Ken South while he was employed at Lehman Brothers
- In December 1993, South was charged with the unauthorized exchange of mutual funds while employed at Lehman Brothers, resulting in a settlement of $56,928.62.
How To Recover Your Losses If You Have Been Victimized by Ken South
Our law firm is looking into claims of investment losses by current and former customers of Kenneth H. South, LPL Financial LLC, and Oppenheimer & Co. Inc. If you have been a victim of fraud or a ponzi scheme associated with Ken South, please contact our firm today.
Federal and state securities laws protect you against investment losses resulting from broker misconduct by Kenneth H. South. But you must act quickly to enforce your rights. Reif Law Group P.C. has the skills, resources, and determination to help you recover your losses. Contact us now for a free consultation. Time is of the essence.
If you suspect that you’ve suffered investment losses due to misconduct by Kenneth H. South, associated with LPL Financial LLC and formerly associated with Oppenheimer & Co. Inc., it’s crucial to understand your rights and the steps you can take to potentially recover your financial losses.
Understanding Your Legal Protections
Federal and state securities laws offer robust protections to investors against misconduct by financial brokers and advisors.
These laws are designed to safeguard your investments against fraud, unauthorized trading, Ponzi schemes, and other forms of broker misconduct.
If Ken South managed your investments and you’ve experienced losses that you suspect are due to mismanagement, you have legal rights that can be enforced through litigation or arbitration.
How Our Firm Can Help with Claims Against Ken South
Reif Law Group P.C. specializes in securities litigation and has extensive experience dealing with cases of broker misconduct. With our deep understanding of the securities industry and a strong track record of advocating for investor rights, we are well-equipped to assist you in investigating your claims and pursuing a recovery of your losses. Here’s how we can assist you:
It’s important to act quickly if you believe you have been a victim of investment fraud or misconduct. The law limits the time you have to file a claim and delaying the protection of your rights can jeopardize your ability to recover your losses.
- Free Initial Consultation: We offer a free initial consultation to discuss your case and assess the viability of your claims. This first step is critical in understanding the specifics of your situation and determining the best course of action.
- Investigation and Assessment: Our team will conduct a thorough investigation into your dealings with Ken South, LPL Financial LLC, and Oppenheimer & Co. Inc. We will review account statements, trade confirmations, and other relevant documents to establish the extent of your losses and identify any evidence of misconduct.
- Legal Action: If we determine that you have a valid claim, we can represent you in legal proceedings against the parties involved. This might include arbitration through the Financial Industry Regulatory Authority (FINRA), litigation in court, or negotiation of a settlement. Our goal is to recover your losses while holding the responsible parties accountable for their actions.
- Dedicated Representation: Throughout the legal process, our team will be with you every step of the way, providing expert guidance and personalized advice. We understand the complexities of securities law and are committed to making the process as transparent and stress-free as possible for you.
- No Recovery, No Fee: We typically work on a contingency fee basis, which means you won’t owe us anything unless we recover funds on your behalf. This policy ensures that our interests are aligned with yours and that you can pursue justice without upfront financial risk.
Understanding the Importance of Timely Action in Securities Fraud Cases
When it comes to investment fraud or broker misconduct, time is a critical factor. Securities law operates under strict statutes of limitations, meaning that the window to file claims and recover your financial losses is limited. Delays can severely impact your ability to seek compensation, so it’s crucial to act promptly if you suspect misconduct by Kenneth H. South or any other broker.
For many investors, the complexities of financial transactions can make it difficult to immediately recognize fraudulent activity. Misrepresentation, unauthorized trading, and unsuitable investment recommendations can all result in financial losses that may not be apparent until much later. However, the law still requires that claims be filed within a certain period from the time the misconduct occurred or was discovered. Therefore, even if your losses occurred years ago, it’s important to consult with legal experts to understand whether you are still within the time limits to file a claim.
If you have been harmed by the actions of Ken South, contact Reif Law Group P.C. now for a free consultation. Our skilled legal team is ready to help you understand your options and work tirelessly to ensure that you have the strongest possible chance of recovering your losses. Remember, time is of the essence, so don’t delay in reaching out for help.
