The law firm of Oakes & Fosher is presently investigating the alleged misconduct of former securities broker Judith Johnston. According to her publicly available FINRA BrokerCheck report, Judith Johnston has been the subject of multiple customer disputes.
Judith Johnston was a Texas based securities broker. She worked in the securities industry for seven years. She spent her entire career registered with just NYLIFE Securities. She is no longer working as a registered securities broker in any fashion.
Her Registrations
- NYLife Securities
The Allegations
- In May 2016, a customer alleged that Judith Johnston misrepresented the details of variable annuities that she sold to them. This case was settled for $13,119 in damages.
- In December 2016, customers alleged that Johnston misrepresented the details of variable annuities that she sold to them. This case was settled for $95,982 in damages.
- In December 2016, customers alleged that Johnston misrepresented the details of variable annuities that she sold to them. This case was settled for $17,228 in damages.
- In February 2017, customers alleged that Judith Johnston was complicit in her husband’s actions of convincing them that he was associated with the member firm and licensed to sell variable annuities. Her husband also allegedly made misrepresentations of the fees associated with the VA’s. This case was settled for $10,601 in damages.
- In March 2017, customers alleged that Judith Johnston was complicit in her husband’s actions of convincing them that he was associated with the member firm and licensed to sell variable annuities. Her husband also allegedly made misrepresentations of the fees associated with the VA’s. This case was settled for $445,161 in damages. During a FINRA investigation in the above mentioned matter, Judith Johnston allegedly failed to comply and was in turn barred by FINRA from acting as a securities broker in any fashion.
- In September 2017, a customer alleged that Johnston misrepresented the details of variable annuities that she sold to them. This case was settled $16,301 in damages.
What Does This Mean?
Misrepresentation is a very serious charge, as it can often result in very serious financial harm to an investor. Essentially, misrepresentation occurs when a securities broker provides an investor with information that has been falsified or obscured in some manner. This can be either on purpose, in an attempt to defraud the investor, or by accident through the broker’s negligence. In this case, customers were also alleging that Johnston had omitted facts regarding variable annuities that she sold to them. Regardless of the broker’s intent, misrepresentation can cause significant losses in an investor’s account as it can lead to them making crucial financial decisions based on misinformation.
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 Judith Johnston, 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.
