Shepherd Smith Edwards and Kantas Investigating Claims Involving Ex-Hilltop Securities Broker Richard Cagle

SSEK Investigates Richard Cagle

If you are an investor who suffered losses while working with former Hilltop Securities Independent Network broker Richard Earl Cagle, please contact our broker fraud lawyers at Shepherd Smith Edwards and Kantas, LLP (SSEK Law Firm) today. With 28 years in the industry, Cagle, who was a Texas broker, was barred by the Financial Industry Regulatory Authority (FINRA) a few months ago after he refused to appear and testify in the self-regulatory authority’s probe into allegations that he made unsuitable investment recommendations and mismarked customer order tickets.

It was just earlier this year that Hilltop Securities fired Cagle. His BrokerCheck record shows two settled customer disputes, both alleging unsuitable recommendations. One case was settled for $20K. The other broker fraud case was settled for $230K.

Previous to working as a Hilltop Securities broker for twelve years, Cagle was a registered Principal Financial Securities broker.

Texas Investor Attorneys
Throughout the state, our Texas broker fraud lawyers work with clients who have suffered unnecessary investment losses due to broker fraud and brokerage firm misconduct. Even if a broker-dealer wasn’t directly involved in any wrongdoing, their inadequate supervision of a broker that did commit fraud or negligence may be enough to hold them liable for the losses you sustained.

Unsuitable Recommendations

Brokers and investment advisers are required to recommend investments that are suitable for a client’s goals, portfolio, and risk tolerance. Not all investments are appropriate for everyone.

Some investments can even prove detrimental if they are too risky or volatile for a client’s portfolio or objectives. An investment can also be considered unsuitable if it charges high commissions or excessive fees when there are comparable, less costly alternatives available.

Other reasons for a possible broker fraud claim:

  • Breach of fiduciary duty
  • Overconcentration
  • Margin account abuse
  • Negligent
  • Misrepresentations
  • Omissions
  • Churning
  • Unauthorized trading
  • Operating a Ponzi scam
  • Registration violations
  • Misappropriation
  • Running a pump-and-dump scam

Over the years, our Texas broker fraud lawyers have filed investor claims against hundreds of broker-dealers. We have helped recover many millions of dollars on our clients’ behalf. Contact SSEK Law Firm today and ask for your free, no obligation case consultation.

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