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

Ralph Jackson is a California based securities broker. He has worked in the securities industry for thirty-three years. During his career, he has been registered with eleven different securities firms.

His Registrations

  • The Equitable Life Assurance Society of the United States (1986-1988)
  • Equico Securities (1986-1988)
  • Dean Witter Reynolds (1988-1991)
  • Lehman Brothers (1991-1993)
  • Smith Barney Inc. (1993-1994)
  • Kidder, Peabody & Co. (1994-1995)
  • Painewebber Incorporated (1995-1996)
  • Salomon Smith Barney (1996-2002)
  • UBS Financial Services (2002-2008)
  • Morgan Stanley & Co. (2008-2009)
  • Morgan Stanley (2009-Present)

The Allegations

  • In August 1999, a customer alleged that Ralph Jackson managed their account negligently. This case was settled for $65,000 in damages.
  • In June 2013, a customer alleged that Ralph Jackson recommended unsuitable private equity investments. The customer also alleged that Jackson committed fraud, made negligent misrepresentations, breached his fiduciary duty, breached the covenant of good faith and fair dealing, violated unfair competition laws, and executed private equity transactions without their authorization. This case was settled for $6 million in damages.
  • In November 2014, an attorney, on behalf of a customer, alleged that Ralph Jackson recommended unsuitable investments, made material misrepresentations, and executed trades without authorization. This case was settled for $350,000 in damages.
  • In January 2020, an attorney, on behalf of a customer, alleged that Ralph Jackson recommended highly unsuitable high yield corporate bonds. This case is currently pending. The customer is seeking $290,000 in damages.

What Does This Mean?

When it comes to investing in either stocks or bonds, the safer option of the two is usually bonds. This is because bonds act more like loans as opposed to purchasing actual equity in a company. The bond purchaser is essentially providing the issuer a loan, in exchange for interest. However, some investors many not be aware of the different types of bonds. Government bonds are the ones everyone usually thinks or when they think of the safe, low-yield investment. Corporate bonds on the other hand can be a little more risky. This is especially true for high yield corporate bonds. These types of bonds provide investors with a much higher reward, however, carry a lot greater risk. Many investors might see the word bond and automatically think its a safe investment. However, these types of bonds can often be defaulted on if the issuing corporation is unsuccessful in their operations. Recommending brokers sometimes omit this fact when pitching these products to potential investors.

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 Ralph Jackson, please contact Oakes & Fosher for a free and private consultation. We work on a contingency basis, which means there are no fees charged unless we collect for you.