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Investment News: Wells Fargo faces major test of broker liability for selling F Squared

A Wells Fargo Advisors client has asked arbitrators to recover money he says he lost investing with F-Squared Investments Inc., his lawyer said Wednesday, testing whether investors can challenge brokerage firms who sold the troubled asset manager’s products…

Wells Fargo

Wells Fargo faces major test of broker liability for selling F Squared

A Wells Fargo Advisors client has asked arbitrators to recover money he says he lost investing with F-Squared Investments Inc., his lawyer said Wednesday, testing whether investors can challenge brokerage firms who sold the troubled asset manager’s products.

F-Squared agreed in December to pay $35 million to settle charges it made false claims about the performance of its flagship investment product. Now, an investor is demanding at least $100,000 in damages from Wells Fargo in a claim filed on Monday, according to his Chicago lawyer, D. Daxton White.

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Tags: , , , , , , , , , Last modified: April 7, 2017