James Michael Johnson— Negligent Misrepresentations and Omissions with Securities Investments

investment fraud attorney ClevelandJames Michael Johnson Allegedly Made Negligent Misrepresentations and Omissions with Securities Investments Away from his Broker Dealer, Commonwealth Financial Network

James Michael Johnson allegedly made a variety of negligent misrepresentations and omissions in connection with the sale of interests in West Virginia Farm Properties, L.L.C. (WVFP), a company formed to develop rural land into a residential neighborhood in West Virginia, according to a recent FINRA Letter of Acceptance, Waiver and Consent (AWC).

FINRA further alleges that Johnson “lacked reasonable basis for believing” that statements that he related to his Commonwealth Financial customers, known only as JU and GU, were true and that Johnson omitted several material facts, of which he was allegedly aware, and that should have been disclosed to his customers, the AWC notes.

James Michael Johnson was registered Commonwealth Financial Network from November 2006 through March 2012.

James Michael Johnson Suspended for Two Years and Fined $50,000 by FINRA

James Michael Johnson also, from November 2006 through March 2012, allegedly exceeded the scope of Commonwealth’s approval of his involvement in one outside business activity (“OBA”) and failed to disclose two other OBA’s (online business activity), the AWC reports.

As a result of the aforementioned and alleged misrepresentations, James Michael Johnson allegedly violated FINRA Rules and hence, has been suspended for two years and fined $50,000 by FINRA.

One should also note that, according to the AWC, James Michael Johnson neither admitted nor denied the FINRA findings.

The Peiffer Rosca Wolf Securities Lawyers Often Assist Investors

The Peiffer Rosca Wolf securities lawyers assist investors who lose money as a result of alleged misrepresentations to investors. They take most cases of this type on a contingency fee basis and advance the case costs, and only get paid for their fees and costs out of money they recover for their clients.

Investors who believe they lost money as a result of negligent misrepresentations are encouraged to contact the securities lawyers at Peiffer Rosca Wolf, Alan Rosca or Joe Peiffer, for a free, no-obligation evaluation of their recovery options, at 888-998-0520.

Alan Rosca (1200 Posts)

Alan is a securities lawyer. He also teaches Securities Regulation at the Cleveland-Marshall College of Law. He focuses his legal practice on complex commercial and financial litigation and arbitration, particularly in the areas of securities and investment fraud. His office is in Cleveland, Ohio.


In our legal system, every person is innocent until and unless found guilty by a court of law or a tribunal. Whenever we reference “allegations” or charges that are “alleged,” such allegations or charges have not been proven, and are merely accusations, not findings of fault, as of the date of the blog. We do not have, nor do we undertake, a duty to continue to monitor or follow cases about which we report, and/or to publish subsequent blogs regarding various developments that may occur in such cases. Readers are encouraged to conduct their own research regarding any such cases and any developments that may or may not have occurred in such cases.