Most investors are unaware of the legal recourse available to them after losing money due to securities broker misconduct and/or negligence. Investors who believe they have lost money in this fashion may be entitled to damages. The law firm of Oakes & Fosher is currently interested in hearing from investors who feel this may be them.

Oakes & Fosher is currently investigating the possible negligence and/or misconduct of former securities broker John M. James. According to his publicly available FINRA BrokerCheck report, John M. James has been the subject of a customer dispute.

John M. James worked most recently as a Minnesota based securities broker. He worked in the securities industry for thirteen years. During his career, he was registered with three different securities firms.

His Registrations

  • Piper Jaffray & Co. (2003-2006)
  • Merrill Lynch (2006-2016)
  • Stifel, Nicolaus & Company (2016)

The Allegations

  • In May 2009, a customer alleged that John M. James made unsuitable investment recommendations. This case was settled for $160,000 in damages.
  • In March 2016, John M. James resigned from his position at Merrill Lynch amidst allegations that he engaged in undisclosed outside business activities.

What Does This Mean?

Securities brokers have a legal obligation to only recommend securities to customers that are suited for them. This suitability is determined by factors such as the customer’s risk tolerance, liquidity needs, previously stated investment objectives, and financial situation. One major expectation of securities brokers, like John M. James, is to be able to determine this suitability based these factors. Investors who believe they have lost money due to their securities broker’s unsuitability may be entitled to damages.

Oakes & Fosher Can Help

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 M. James, please contact Oakes & Fosher for a free and private consultation.