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

John Timberlake is a Georgia-based securities broker who has worked in the securities industry for twenty-six years. During his career, he has been registered with three different securities firms. He is not currently practicing as a securities broker in any fashion.

His Registrations 

  • J.P. Morgan Securities (1992-2012)
  • Suntrust Investment Services (2013-2016)
  • Carter, Terry & Company (2016-2020)

The Allegations 

  • In January 2016, a customer alleged that John Timberlake had recommended unsuitable investments. This case was settled for $105,831 in damages.
  • In March 2019, a customer alleged that Timberlake failed to present suitable investments, implement an appropriate investment strategy and properly manage the account. This case was settled for $55,000 in damages.
  • In October 2019, a customer alleged that Timberlake recommended unsuitable speculative investment strategy in various thinly traded securities. This case was settled for $50,000 in damages.
  • In May 2020, Timberlake was discharged from his position at Carter, Terry & Company for allegedly violating firm policy regarding the use of text messages with clients.
  • In November 2020, Timberlake was suspended by FINRA following the aforementioned allegations that Timberlake had used his personal cellular phone to exchange numerous business and securities related text messages with customers without providing copies to his member firms, thereby preventing the firms from preserving the communications. As a result of these findings, Timberlake was suspended from acting as a securities broker in all capacities for a period of four months and fined $10,000.

What Does This Mean?

Securities brokers have a duty to their customers to always act in their best financial interests. This is their duty as a fiduciary. This means that brokers can only recommend investments that their customers are actually suited for. Brokers like Alvery Bartlett can determine if a particular investment is suitable for their customer by looking at various different factors provided to them by the customer. This includes the customer’s investment objectives, financial situation, liquidity needs, and risk tolerance. Brokers who invest their customers contrary to these needs have either done so in a fraudulent manner, placing their own financial interests ahead of their customer’s, or in a negligent one. Regardless if the broker’s intent was fraudulent or negligent, managing a customer’s account unsuitably disqualifies them from the ability to perform their duties in the required manner.

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 due to this fraud or negligence 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 Timberlake, 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.