Craig S. Forster of Hawthorne New York a stockbroker formerly employed by Andrew Garrett Inc. is referenced in a customer initiated investment related arbitration claim which settled for $165,000.00 in damages founded on allegations including (1) breach of fiduciary duty (2) breach of contract and (3) suitability relating to stock trades executed in the customer’s account. Financial Industry Regulatory Authority (FINRA) Arbitration No. 16-00729 (Nov. 14, 2016).
FINRA Public Disclosure confirms that Forster has been identified in eight additional customer initiated investment related disputes containing accusations of his misconduct while employed with Oppenheimer & Co. Inc., Stifel, Nicolaus & Company, Incorporated and Prudential Securities Incorporated. Specifically, a customer initiated investment related arbitration claim involving Forster’s conduct was resolved for $100,000.00 in damages based upon allegations that stock transactions were effected in the customer’s account that were not suitable for the customer, and the customer’s investment account was churned. FINRA Arbitration No. 09-06407 (Dec. 22, 2010).
On September 6, 2011, another customer initiated investment related complaint involving Forster’s activities was settled for $15,000.00 in damages supported by accusations that Forster made unsuitable investment recommendations to the customer concerning options and over-the-counter equities. Then, on February 19, 2015, a customer filed an investment related complaint regarding Forster’s conduct in which the customer sought $1,100,000.00 in damages founded on accusations of unauthorized trading, churning, misrepresentation and suitability relating to municipal debt transactions placed in the customer’s account.
Subsequently, a customer initiated investment related arbitration claim regarding Forster’s conduct was resolved for $160,000.00 in damages based upon allegations including suitability and excessive trading of equities in the customer’s investment portfolio. FINRA Arbitration No. 14-03282 (Sept. 10, 2015).
Additionally, a customer initiated investment related arbitration claim concerning Forster’s activities was settled for $250,000.00 in damages supported by allegations that Forster placed real estate security, oil & gas, mutual fund and municipal debt transactions in the customer’s account that were neither authorized nor suitable for the customer. FINRA Arbitration No. 15-02318 (Nov. 30, 2016). Moreover, the customer alleged that Forster executed securities transactions without having been licensed in the state; breached his fiduciary obligations to the customer; negligently serviced the customer’s investment account; misrepresented investment related information; converted the customer’s funds; breached his contractual obligations; and committed fraud.
Forster’s registration with Andrew Garrett Inc. was terminated on August 16, 2016. Forster has been registered with Woodstock Financial Group, Inc. since July 25, 2016.
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