The law firm of Oakes & Fosher is presently investigating the alleged misconduct of securities broker John Forrester. According to his publicly available FINRA BrokerCheck report, John Forrester has been the subject of multiple customer disputes over the course of his career.

John Forrester is a Florida based securities broker. He has worked in the securities industry for thirty-eight years. During his career, he has been registered with eleven different securities firms.

His Registrations

  • Herzfeld & Stern (1981)
  • Fittin, Cunningham & Lauzon (1981-1982)
  • Cralin & Co. (1982)
  • Arch W. Roberts & Co. (1982-1984)
  • Richardson Greenshields Securities (1984)
  • Thomson McKinnon Securities (1984-1988)
  • Prudential Securities Incorporated (1988-1991)
  • Dean Witter Reynolds (1991-1995)
  • Thos. K. Wasserman & Associates (1995-1999)
  • Wasserman & Associates (2000-2010)
  • Newbridge Securities Corporation (2010-Present)

The Allegations

  • In April 1993, a customer alleged that John Forrester recommended unsuitable investments and made material misrepresentations. This case was settled for $30,000 in damages.
  • In September 1996, a customer alleged that John Forrester recommended unsuitable investments and churned their account. This case went to arbitration where the customer was awarded $50,000 in damages.
  • In August 2008, a customer alleged that their primary investment objective was to protect their principal, however their account significantly declined in value under John Forrester’s management. This case went to arbitration where the customer was awarded $108,315 in damages.
  • In April 2019, a customer alleged that John Forrester breached his fiduciary duty, breached contract, and managed their account negligently. This case was settled for $7,500 in damages.

Negligence

Securities brokers, like John Forrester, 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 accuse 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 John Forrester, 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.