Written by The White Law Group• February 7, 2020• 4:03 pm• Blog, Current Investigations, Securities Fraud Articles

Laura O. Shean Broker Investigation

Financial Advisor Laura O. Shean, LPL Financial , Medford, Oregon

Oregon Reportedly Bars Advisor Laura O. Shean for Alleged Misappropriation of Customers’ Funds

Are you concerned about investments with Laura O. Shean in Medford, Oregon? If so, the securities attorneys at The White Law Group may be able to help you by filing a FINRA Dispute Resolution claim.

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According to public records on the Financial Industry Regulatory Authority’s website, on January 17, 2019, Oregon Division of Financial Regulation reportedly barred Shean after allegations of “misappropriation of funds totaling $124,402.83 from an elderly client’s account; six unauthorized transactions; engaged in a manipulative, deceptive, or other fraudulent act or practice; engaged in dishonest, fraudulent or illegal practices or conducted in a business or profession; and engaged in an act, practice or course of business which operated or would operate as a fraud or deceit upon a person.” In addition to the permanent bar, Shean was reportedly fined $30,000.

According to her broker profile, Shean was reportedly registered with LPL Financial in Medford, Oregon from 1999 through 2017 when she was reportedly discharged “after admitting to accessing one client’s funds for personal use.”

Investigating Potential Lawsuits

The White Law Group is investigating potential securities fraud lawsuits regarding the liability that Shean’s employers may have for failure to properly supervise her.

When brokers violate securities laws, such as making unauthorized transactions or misappropriation of customer’s funds, the brokerage firm they are working with may be liable for investment losses through FINRA Arbitration. Brokerage firms that fail to monitor the business activities of their employees may be liable for investment losses due to negligent supervision for the misconduct of their employees.

The White Law Group is a national securities fraud, securities arbitration, and investor protection law firm with offices in Chicago, Illinois and Franklin, Tennessee.

We represent investors in FINRA arbitration claims in all 50 states including Oregon. Our attorneys have recovered millions of dollars from many brokerage firms in the past.