Emerson Equity LLC broker Timothy Sherer (CRD# 833618) is accused of unsuitable investment recommendations. He has been registered with Emerson Equity LLC in Los Gatos, California, since 2019. Previously, he was registered with Sandlapper Wealth Management, LLC and Sandlapper Securities, LLC in San Jose, California, from 2015 to 2019. Prior to then, he was registered with SCF Securities, Inc. in San Jose, California, from February to June 2015 and with J P Turner & Company Capital Management, LLC in San Jose, California, from 2008 to 2015.
In March 1988, the California Dept of Insurance restricted his license following allegations of misrepresentation: “Client wanted recovery of $900 loaned cash values. Provident mutual life and i agreed not to pay back the money that was requested by the client he vied for purchases a new policy. Client complained to dept of insurance. Provident paid back the $900. Client didn’t recall the loan transaction in spite of illustrations that showed loans, interest and signed loan forms.”
In August 2002, the National Association of Securities Dealers, Inc. sanctioned him to pay a $37,000 civil and administrative penalty and fine and suspended him for six months related to allegations that he “participated in private securities transactions without providing prior written notification to and receiving written approval from his member firm.”
Timothy Sherer Customer Complaints
He has been the subject of four customer complaints between 2010 and 2023, one of which was denied, according to his CRD report. The most recent complaint was regarding:
March 2023. “Violations of Federal Securities Laws, fraud, violations of California Securities Laws, Unsuitable recommendations, misrepresentations and omission of material fact, California unfair, unlawful and fraudulent business practices, violation of California financial elder abuse laws, breach of contract, common law fraud, breach of fiduciary duty, negligence and gross negligence.” The customer is seeking $448,781.65 in damages, and the case is currently pending. The complaint was related to corporate debt, and it took place while he was registered with Emerson Equity LLC.
Previous complaints were regarding suitability concerns, negligence, and fraud.
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, Emerson Equity LLC may be liable for investment or other losses suffered by Timothy Sherer’s customers.
Erez Law represents investors in the United States for claims against brokers and brokerage firms for wrongdoing. If you 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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