The securities and investment fraud law firm Fitapelli Kurta is interested in speaking to investors who have complaints regarding California-based American Investors Company broker/adviser Nick Cochran (CRD# 713570).
Nick Cochran has spent 35 years in the securities industry and has been registered with American Investors Company in San Ramon, California since 1992. Previous registrations include Foothill Securities in Santa Clara, California (1990-1992) and Equity Engineering (1980-1990). He is a registered broker and investment adviser in California, Michigan, Montana, Texas, and Utah.
According to his BrokerCheck report, Nick Cochran is the subject of two customer complaints.
In 2014 a customer alleged Nick Cochran, while employed at American Investors Company, misrepresented, recommended, and failed to conduct due diligence regarding an unsuitable 1031 exchange transaction in August 2006. The complaint settled in 2014 for $350,000.
In 1996 a customer alleged Nick Cochran, while employed at Equity Engineering, misrepresented material facts related to an investment, failed to supervise, breached his fiduciary duty, and acted negligently. The complaint, which involved “a number of limited partnership investments,” settled in 1998 for $78,000.
FINRA rules and federal securities law maintain that brokers like Nick Cochran have a fiduciary duty to act only in the best interests of their clients. Brokers are not permitted to misrepresent or omit material facts in such a fashion that might cause the client to make an unsuitable investment – that is, an investment not in the client’s best interests. Broker-dealer firms like American Investors Company and Equity Engineering have a supervisory duty to keep their brokers in compliance with these regulations. Broker, advisers, and firms who breach their fiduciary duty – for instance, by misrepresenting investments – may be subject to disciplinary action.
If you have lost money investing with Nick Cochran, you may be able to recover your losses. Call the securities and investment fraud law firm Fitapelli Kurta at 877-238-4175 for a free consultation. All cases are taken on a contingency basis: Fitapelli Kurta only gets paid if and when you collect funds. Time to file your claim may be limited, so we encourage you to avoid delay. Call 877-238-4175 now to speak to an attorney for free.