The White Law Group announces that it has filed a Financial Industry Regulatory Authority (FINRA) arbitration statement of claim involving investment losses in various UITs, REITs, and variable annuity investments.  The claim, filed against NEXT Financial Group, seeks recovery of investment losses of over $500,000.

The claim filed by The White Law Group was submitted on behalf of a retired teacher in Florida and alleges claims for fraud, breach of fiduciary duty, negligence, and negligent supervision. The claim further alleges that the investor was unsuitably invested in various unit investment trusts (UITs), real estate investment trusts (REITs) and variable annuities and that NEXT Financial Group only selected these investments because of the commission generated as a result of the recommendation.

Broker-dealers have a fiduciary duty to research investments prior to recommending them for sale to its clients and to ensure that the investments in recommends are appropriate for the client in light of the clients age, investment experience, net worth, and investment objectives.

For more information on the claim filed by The White Law Group, please contact the firm’s Chicago office at 312-238-9650.

The White Law Group, LLC is a national securities fraud, securities arbitration, investor protection, and securities regulation/compliance law firm.  For more information on the firm, visit the firm’s website at http://whitesecuritieslaw.com.