Advisor Alert: Our Attorneys Are Investigating Michael Howard Rosenmayer For Investment Fraud

Chetan Patil on March 11, 2024

Did You Lose Money Because of Michael Rosenmayer?

Filed: March 11, 2024

Michael Rosenmayer currently has one (1) pending customer complaint. Overall, he has been the subject of twenty-three (23) customer complaints. As an investor, you may be entitled to compensation for losses accrued due to mismanagement of your investments.

Let’s begin our Patil Law Advisor Alert with a summary report on Michael Howard Rosenmayer.

Who Is Michael Howard Rosenmayer of Oppenheimer & Co. Inc.?

Advisor Name: Michael Howard Rosenmayer
Aliases: Michael Rosenmayer
CRD: 2352488
Location: Los Angeles, California
Current Employer: Oppenheimer & Co. Inc.
Previous Firms: RBC Dain Rauscher Inc. and Prudential Securities Incorporated
Number of Known Customer Complaints: 23
Can Michael Rosenmayer Be Sued: Yes, in Private Arbitration
Can Michael Rosenmayer’s Employers Be Sued For Failing to Supervise Actions: Yes, in Private Arbitration
Highest Damages Allegation: $5,450,000
Highest Settlement: $120,000

If you have suffered investment losses by Michael Rosenmayer, we strongly encourage you to exercise your rights to experienced legal representation. Recover what is owed to you by retaining an elder financial abuse lawyer. Reach out to the legal team at Patil Law, P.C. via the secure online form or call the firm directly toll-free at 1-800-950-6553.

Customer Complaints Filed Against Michael Rosenmayer For Broker Misconduct

As of this publication date, Michael Rosenmayer has been the subject of 23 customer disputes. Let’s review them below.

In May 2023, a FINRA arbitration was filed against or in reference to Michael Rosenmayer by a customer of Oppenheimer & Co. Inc. alleging that the client suffered losses as of unsuitable investments and alleges claims for violations of state securities laws, negligence, unsuitability, fraud, breach of fiduciary duty and breach of contract in connection with claimant’s purchases of bonds. Per the customer, he lost over $3,000,000 because of Mr. Rosenmayer’s actions. As of this publication date, this claim remains pending.

In March 2023, a FINRA arbitration was filed against or in reference to Michael Rosenmayer by multiple customers of Oppenheimer & Co. Inc. alleging negligence/unsuitability, violations of California Securities Law, violations of FINRA Rules & Federal Securities Laws, breach of contract, negligent supervision, respondent superior, and breach of contract based on misrepresentations and omissions in connection with purchases of Capital Trust Agency Florida Senior Living Bonds in 2019 and 2020. Per the customers, they lost over $231,826 because of Mr. Rosenmayer’s actions. On February 12, 2024, Mr. Rosenmayer settled the claim for $50,000, and some or all of this amount may have been paid by Mr. Rosenmayer’s employer and/or insurance carrier.

In March 2023, a complaint was filed against or in reference to Michael Rosenmayer by a customer of Oppenheimer & Co. Inc. alleging that the client was not informed of the risks associated with his investments.

In July 2018, a complaint was filed against or in reference to Michael Rosenmayer by multiple customers of Oppenheimer & Co. Inc. alleging unsuitability, common law fraud, breach of contract, breach of fiduciary duty, negligence supervision, violation of California’s elder abuse statute, and violation of California’s securities act based on misrepresentations and omissions in connection with purchases of Puerto Rican bonds in claimants’ accounts. Per the customers, they lost over $300,000 because of Mr. Rosenmayer’s actions.

In May 2018, a complaint was filed against or in reference to Michael Rosenmayer by a customer of Oppenheimer & Co. Inc. alleging that an unsuitable investment was made in the account during January 2018.

In May 2016, a FINRA arbitration was filed against or in reference to Michael Rosenmayer by a customer of Oppenheimer & Co. Inc. alleging unsuitable recommendations, negligence, breach of contract, and failure to supervise. Per the customer, he/she lost over $430,000 because of Mr. Rosenmayer’s actions. On June 22, 2017, Mr. Rosenmayer settled the claim for $37,500, and some or all of this amount may have been paid by Mr. Rosenmayer’s employer and/or insurance carrier.

In July 2014, a complaint was filed against or in reference to Michael Rosenmayer by a customer of Oppenheimer & Co. Inc. alleging that information regarding a security was omitted at the time of purchase and that the security should not have been purchased given their health & age. Per the customer, he/she lost over $283,784.07 because of Mr. Rosenmayer’s actions.

In March 2010, a FINRA arbitration was filed against or in reference to Michael Rosenmayer by multiple customers of Oppenheimer & Co. Inc. alleging that during the period of 5/2008 until 7/2009, the client became very ill and Mr. Rosenmayer should have recommended another family member to make claimants’ investment decisions. The claimants also allege that Mr. Rosenmayer gave imprudent advice to them. Per the customers, they lost over $221,029.19 because of Mr. Rosenmayer’s actions. On April 13, 2011, Mr. Rosenmayer settled the claim for $55,000, and some or all of this amount may have been paid by Mr. Rosenmayer’s employer and/or insurance carrier.

In December 2009, a FINRA arbitration was filed against or in reference to Michael Rosenmayer by a customer of Oppenheimer & Co. Inc. alleging misrepresentations and omissions regarding auction rate securities purchased between December 2007 and January 2008. Per the customer, he/she lost over $5,450,000 because of Mr. Rosenmayer’s actions. On June 22, 2017, Mr. Rosenmayer settled the claim for $120,000, and some or all of this amount may have been paid by Mr. Rosenmayer’s employer and/or insurance carrier.

In October 2009, a FINRA arbitration was filed against or in reference to Michael Rosenmayer by a customer of RBC Capital Markets Corporation and Oppenheimer & Co. Inc. alleging that Mr. Rosenmayer made an unsuitable investment in a corporate bond for him in February 2006 while they were employed at RBC Dain Rauscher, Inc. The claimant transferred his account to Oppenheimer when Mr. Rosenmayer & Mr. Iglow began working for Oppenheimer. The company filed for bankruptcy in December 2008 and the claimant lost all of his money. Per the customer, he/she lost over $15,406 because of Mr. Rosenmayer’s actions. An arbitration panel found that Michael Rosenmayer was negligent and awarded $17,121 in favor of the customers.

In June 2009, a complaint was filed against or in reference to Michael Rosenmayer by a customer of Oppenheimer & Co. Inc. alleging that unsuitable investments were purchased in the client’s account between December 2007 and May 2008.

In February 2006, a complaint was filed against or in reference to Michael Rosenmayer by a customer of RBC Dain Rauscher Inc. alleging that Mr. Rosenmayer did not fully disclose the risks associated with ABN Amro Notes linked to the Nortell Networks common stock at the time of the client’s purchase. Per the customer, he/she lost over $52,416 because of Mr. Rosenmayer’s actions.

In October 2005, a complaint was filed against or in reference to Michael Rosenmayer by multiple customers of RBC Dain Rauscher Inc. alleging that Mr. Rosenmayer’s recommendation to replace government and municipal bonds with corporate bonds was unsuitable. Per the customers, they lost over $50,000 because of Mr. Rosenmayer’s actions. On April 25, 2006, Mr. Rosenmayer settled the claim for $9,500, and some or all of this amount may have been paid by Mr. Rosenmayer’s employer and/or insurance carrier.

In May 2005, a complaint was filed against or in reference to Michael Rosenmayer by a customer of RBC Dain Rauscher Inc. alleging that Mr. Rosenmayer misrepresented the features of his federal home loan bank investment. Per the customer, he/she lost over $130,000 because of Mr. Rosenmayer’s actions. On October 6, 2004, Mr. Rosenmayer settled the claim for $92,500, and some or all of this amount may have been paid by Mr. Rosenmayer’s employer and/or insurance carrier.

In April 2005, a complaint was filed against or in reference to Michael Rosenmayer by a customer of RBC Dain Rauscher Inc. alleging that Mr. Rosenmayer misrepresented the quality of his GM acceptance Corp Bonds when they were recommended to him. Per the customer, he/she lost over $30,000 because of Mr. Rosenmayer’s actions. On August 16, 2005, Mr. Rosenmayer settled the claim for $15,000, and some or all of this amount may have been paid by Mr. Rosenmayer’s employer and/or insurance carrier.

In March 2004, a complaint was filed against or in reference to Michael Rosenmayer by a customer of RBC Dain Rauscher Inc. alleging that Mr. Rosenmayer did not fully disclose the risks associated with Nortel Networks Corporate Bonds at the time the client purchased them. Per the customer, he/she lost over $25,300 because of Mr. Rosenmayer’s actions.

In August 2001, a complaint was filed against or in reference to Michael Rosenmayer by a customer of Prudential Securities Incorporated alleging unsuitability for three corporate bond purchases. Per the customer, he/she lost over $68,474 because of Mr. Rosenmayer’s actions. On November 12, 2001, Mr. Rosenmayer settled the claim for $51,247, and some or all of this amount may have been paid by Mr. Rosenmayer’s employer and/or insurance carrier.

In March 2001, a NASD-DR arbitration was filed against or in reference to Michael Rosenmayer by a customer of M.L. Stern & Co., LLC alleging that Mr. Rosenmayer failed to inform the client of the risks associated with investments in corporate bonds. Per the customer, he/she lost over $80,000 because of Mr. Rosenmayer’s actions.

In October 2000, a complaint was filed against or in reference to Michael Rosenmayer by a customer of Prudential Securities Incorporated alleging unsuitability. Per the customer, he/she lost over $53,000 because of Mr. Rosenmayer’s actions. On December 1, 2000, Mr. Rosenmayer settled the claim for $52,130.54.

In February 2000, a complaint was filed against or in reference to Michael Rosenmayer by a customer of M.L. Stern & Co. alleging that the purchase of a high yield bond was inconsistent with his investment objectives, however, the customer had stated that his investment objectives were aggressive income and growth. Per the customer, he lost over $17,000 because of Mr. Rosenmayer’s actions.

In January 2000, a complaint was filed against or in reference to Michael Rosenmayer by a customer of M.L. Stern & Co. alleging that purchases of bonds were not suitable for the client’s account. Per the customer, she lost over $50,000 because of Mr. Rosenmayer’s actions.

How To File A Claim Against Michael Rosenmayer of Oppenheimer & Co. Inc. (previously with RBC Dain Rauscher Inc. and Prudential Securities Incorporated) To Get Your Money Back

If you have questions about Michael Rosenmayer, Oppenheimer & Co. Inc., RBC Dain Rauscher Inc., Prudential Securities Incorporated, or the management or performance of your accounts, please contact Attorney Patil for a free initial consultation via email or toll-free at 1-800-950-6553.

Category: Oppenheimer & Co.