Were you the victim of former Suntrust Investment Services, Inc. broker John Timberlake (CRD# 2109445)? Timberlake has been registered with Carter, Terry & Company, Inc. in Atlanta, Georgia from 2016 to 2020, when he was terminated regarding, “Violated Firm policy regarding the use of text messages with clients.” Previously, Timberlake was registered with Suntrust Investment Services, Inc. in Atlanta, Georgia from 2013 to 2016.
In December 2020, FINRA sanctioned Timberlake to a $10,000 civil and administrative penalty and fine and suspended him for four months after he, “consented to the sanctions and to the entry of findings that he 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. The findings stated that Timberlake confirmed orders, communicated regarding specific securities and related news, and texted the customers information about their profits and losses. The findings also stated that Timberlake sent text messages to a customer that included promissory, exaggerated, unwarranted, and misleading statements.”
Timberlake has been the subject of four customer complaints between 2016 and 2020, one of which was denied, according to his CRD report:
- October 2019. “Unsuitable recommendation of speculative investment strategy in various thinly traded securities and guarantee of performance.” The customer sought $88,700 in damages and the case was settled for $50,000. The complaint is regarding equity OTC and took place while Timberlake was registered with SunTrust Investment Services.
- March 2019. “The client’s attorney alleges the firm and former representative failed to present suitable investments, implement an appropriate investment strategy and properly manage the account.” The customer sought $102,000 in damages and the case was settled for $55,000. The complaint is regarding common and preferred stocks and took place while Timberlake was registered with SunTrust Investment Services.
- January 2016. “Client is upset over margin call caused by increase in requirement of Empire Resorts (NYNY) after 1-5 reverse split and the client alleged transactions were unsuitable.” The case was settled for $105,831.82. The complaint is regarding common and preferred stocks and took place while Timberlake was registered with SunTrust Investment Services.
Pursuant to FINRA Rules, member firms are responsible for supervising a broker’s activities during the time the broker is registered with the firm. Therefore, Suntrust Investment Services, Inc. may be liable for investment or other losses suffered by Timberlake’s customers.
Erez Law represents investors in the United States for claims against brokers and brokerage firms for wrongdoing. If and have experienced investment losses, please call us at 888-840-1571 or complete our contact form for a free consultation. Erez Law is a nationally recognized law firm representing individuals, trusts, corporations and institutions in claims against brokerage firms, banks and insurance companies on a contingency fee basis.
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