The law firm of Oakes & Fosher is presently investigating the alleged misconduct of former securities broker Thomas H. Lawrence III. According to his publicly available FINRA BrokerCheck report, Thomas H. Lawrence III has been the subject of multiple customer disputes.

Thomas H. Lawrence III was a Tennessee based securities broker. He worked in the securities industry for twenty-seven years. During his career, he was registered with four different securities firms. He is no longer working as a registered securities broker in any fashion.

His Registrations

  • Advantage Capital Corporation (1989-1990)
  • H.D. Vest Investment Securities (1990-1991)
  • Carillon Investments (1991-2006)
  • Ameritas Investment Corp. (2006-2016)

The Allegations

  • In November 2016, customers alleged that Thomas H. Lawrence III made fraudulent misrepresentations, omitted material facts, failed to monitor accounts, recommended unsuitable investments, breached his fiduciary duty, and handled their account negligently. This case was settled for $475,000 in damages.
  • In July 2017, Thomas H. Lawrence III was officially sanctioned by FINRA. The findings in this matter state that Lawrence took advantage of one of his elderly customers by borrowing more than $39,000 from them. This was in direct opposition of firm policies. The customer was under the impression that they would be paid back; however, this never happened. Due to these allegations, he was fined $5,000, forced to pay $41,332 in restitution, and suspended from acting as a securities broker in any fashion for a period of two years. In March 2019, he was barred from acting as a securities broker in any fashion by the Tennessee Securities Division due to these alleged actions.
  • In October 2019, a customer alleged that Thomas H. Lawrence III made material misrepresentations about alternative investments. This case is currently pending. The customer is seeking $150,000 in damages.

What Does This Mean?

Securities brokers are required to provide their customers with information about their investments, or potential investments, that is both accurate and complete. When a securities broker provides a customer with falsified information, it is refereed to as misrepresentation. When a securities broker fails to provide their customer with the complete information, it is referred to as omission. Both misrepresentation and omission can lead to investors making financial decisions based on misinformation. This can lead to serious financial detriment and is the reason these allegations are so serious. Misrepresentation and omission can occur on purpose through the securities broker’s fraudulent intent, or by accident, through the broker’s negligence and inability to perform their job to the extent that is required for someone in their position. Regardless of the broker’s intent, misrepresentation and omission can cause significant investor losses and should never be taken lightly.

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. We work on a contingency basis which means there are no fees charged unless we collect for you. If you, or someone you know, have lost money investing with Thomas H. Lawrence III, please contact Oakes & Fosher for a free and private consultation.