The White Law Group Announces a Lawsuit against Centaurus Financial
The White Law Group announces the filing of a FINRA arbitration claim against Centaurus Financial Inc. for investment losses involving non-traded REITs and other alternative investments.
The White Law Group submitted a claim to FINRA Dispute Resolution on behalf of a North Carolina family, alleging claims for violation of common law fraud, breach of fiduciary duty, negligence, and negligent supervision.
The claim further alleges that Centaurus Financial Inc. unsuitably invested its clients in the high-risk non-traded REITs and other alternative investments.
Further, it is alleged that the firm recommended its clients invest in the following high-risk alternative investments:
The Parking REIT, Inc.
Pacific Oak Strategic Opportunity REIT
Hartman VREIT Trust, Inc.
Mackenzie Realty Capital, Inc.
Steadfast Apartment REIT
Benefit Street Partners
WP Carey CPA 18 Global
ARC Hospitality Trust
The claim seeks damages of $100,000.00 to $250,000.00.
It is alleged that Centaurus Financial Inc. failed to perform the necessary due diligence on these investments prior to recommending them to these particular investors. Broker dealers have a fiduciary duty to adequately disclose the risks involved in an investment before recommending it, and must perform the necessary due diligence to determine whether the investment is suitable for the investor.
Recovery of Financial Losses
FINRA Dispute Resolution is an arbitration venue for investors with claims against their brokerage firm or financial professional. It provides investors with an opportunity to attempt to recoup their investment losses and is an alternative to filing such claims in court.
“We believe there are many more investors who have suffered losses due to unsuitable investment recommendations who may not realize they have recourse, or may be unaware of any wrongdoing,” said D. Daxton White, managing partner of The White Law Group, a national securities fraud, securities arbitration, investor protection and securities regulatory/compliance law firm with offices in Chicago, Illinois and Seattle, Washington.
“Brokerage firms are required to supervise their advisors to make sure that they are complying with FINRA rules. If it can be determined that the financial advisor’s employers failed to adequately supervise him, these firms can be held responsible for any resulting losses in a FINRA arbitration claim.”
The White Law Group is a national securities fraud, securities arbitration, and investor protection law firm with offices in Chicago, Illinois and Seattle, Washington.
For more information on the claim filed by The White Law Group, please contact the firm at 1-888-637-5510. To learn more about the White Law Group and its representation of investors in FINRA arbitration claims, visit https://www.whitesecuritieslaw.com.
Tags: Benefit Street Partners Realty Trust, Centaurus Financial lawsuit, Hartman vREIT trust, Hopsitality Investors Trust, Mackenzie Realty Capital, Pacific Oak Strategic Opportunity REIT, Parking REIT, Steadfast Apartment REIT, WP Carey CPA 18 Global Last modified: July 21, 2022