Written by The White Law Group• June 30, 2019• 4:43 pm• Blog, Current Investigations

Jon P. Lindberg Broker Investigation

Financial Advisor Jon P. Lindberg, First Advisor’s Capital – Birmingham, Alabama

Are you concerned about investments you made with Jon P. Lindberg in Birmingham, Alabama? If so, the securities attorneys at The White Law Group may be able to help you.

According to an Administrative Order on April 2, 2019 by the Alabama Securities Commission, the regulator is currently investigating financial advisor Jon P. Lindberg after two customer complaints were allegedly filed against him in May 2018 while he was working as an investment adviser at First Advisor’s Capital.

On May 22, 2018, a customer alleged “mishandling and aggressive action on the part of an employee of the Firm nearly depleted his account.” The damage amount reportedly requested was $75,000 and the settlement amount was reportedly $92,607.11.

On May 1, 2018, a customer alleged “client complaint alleged account losses due to incompetent employee of the Firm.” The damage amount requested was reportedly $80,000 and the settlement amount was reportedly $64,000.

According to Lindberg’s broker report, he was registered with Proequities, Inc. in Birmingham, Alabama from August 1989 until he was reportedly discharged in August 2018 for “Failure to disclose complaints and settlement related to independent RIA.”

Potential Lawsuits to Recover Losses

The White Law Group is investigating potential lawsuits regarding the liability that Proequities may have for failure to properly supervise Lindberg.

When brokers violate securities laws, such as borrowing money from customers, the brokerage firm they are working with may be liable for investment losses through FINRA Arbitration.

Brokerage firms that fail to monitor the business activities of their employees may be liable for investment losses due to negligent supervision for the misconduct of their employees.

The White Law Group is a national securities fraud, securities arbitration, and investor protection law firm with offices in Chicago, Illinois and Franklin, Tennessee.

We represent investors in FINRA arbitration claims in all 50 states, including Alabama. Our attorneys have recovered millions of dollars from many brokerage firms in the past.