The law firm of Oakes & Fosher is presently investigating the alleged misconduct of former securities broker Hilary Zimmerman. According to her publicly available FINRA BrokerCheck report, Hilary Zimmerman has been the subject of multiple customer disputes.
Hilary Zimmerman was a Mississippi based securities broker. She worked in the securities industry for twenty-five years. During her career, she was registered with three different securities firms. She is no longer working as a registered securities broker in any fashion.
Her Registrations
- Lehman Brothers (1991-1993)
- Citigroup Global Markets (1993-2007)
- Morgan Stanley (2007-2017)
The Allegations
- In February 2010, customers alleged that Hilary Zimmerman executed trades excessively in their accounts. They also alleged that this trading was highly unsuitable. This case went to arbitration where the customer was awarded $387,856 in damages.
- In March 2013, a customer alleged that Hilary Zimmerman violated FINRA rules, SEC rules, and state and federal statutes, breached contract, breached her fiduciary duty, and managed their account negligently. This case was settled for $371,396 in damages.
- Also in March 2013, a customer alleged that Hilary Zimmerman violated industry rules and standards of care, breached her fiduciary duty, engaged in excessive turnover, committed fraud, made negligent misrepresentations, violated SEC rules, executed risky and speculative trades, failed to disclose information, and failed to stop conflicts of interest. This case was settled for $385,000 in damages.
- In April 2013, a customer alleged that Hilary Zimmerman breached her fiduciary duty, excessively turned over their account, omitted material facts, made material misrepresentations, committed fraud, managed their account negligently, recommended unsuitable investments, and violated SEC rules. This case was settled for $440,000 in damages.
- In December 2014, customers alleged that Hilary Zimmerman was complicit in the unauthorized trading and unsuitable securities purchased in their accounts. They also alleged that she misrepresented investment strategies. This case was settled for $1,295,815 in damages.
Negligence
Securities brokers, like Hilary Zimmerman, have a legal obligation to always act in the best interests of their customers. Part of this means conducting the necessary due diligence to handle their customer’s accounts to this best of their ability. When brokers let this responsibility go awry, their customers can suffer financially for it. Negligence turns out to be one of the most common things that securities brokers are accused of.
Oakes & Fosher Can Help
Many investors are unaware of the legal recourse available to them after losing money due to securities broker fraud and/or negligence. The truth is that investors who have lost money in this fashion may actually be entitled to damages.
Oakes & Fosher dedicates its entire legal practice to helping investors across the nation. If you, or someone you know, have lost money investing with Hilary Zimmerman, please contact Oakes & Fosher for a free and private consultation. Oakes & Fosher handles cases on a contingency basis, which means there are no fees charged unless we collect for you.
