Lincoln Financial Advisors Lawsuit Alleges Unsuitable Recommendations
The White Law Group is announcing that it has filed a FINRA claim against Lincoln Financial Advisors Corp. on behalf of two brothers in North Dakota, requesting damages for alleged violation of common law fraud, breach of fiduciary duty, negligence, and negligent supervision.
The Statement of Claim alleges Lincoln Financial Advisors Corp. unsuitably invested its clients in Atlas Resources Series 34 –2014 LP, a high risk oil and gas limited partnership.
The claim seeks damages between $100,000.00 and $400,000.00.
According to D. Daxton White, managing partner of The White Law Group, “It is unfortunate, but we believe that many more investors have suffered devastating losses due to the broker-dealer’s failure to supervise and don’t realize they have recovery options.”
“Brokerage firms are required to supervise their advisors to ensure that they are complying with FINRA rules. If it can be determined that Lincoln Financial Advisors violated FINRA rules, it can be held responsible for any resulting losses in a FINRA arbitration claim.”
According to the Statement of Claim, the broker-dealer allegedly failed to perform the necessary due diligence on these investments prior to recommending them to these particular investors.
The White Law Group, LLC is a national securities fraud, securities arbitration, investor protection, and securities regulation/compliance law firm with offices in Chicago, Illinois.
Our firm represents investors in all types of securities related claims, including claims involving stock fraud, broker misrepresentation, churning, unsuitable investments, selling away, and unauthorized trading, among many others.
With over 30 years of securities law experience, The White Law Group has the expertise to help investors defrauded by their brokers attempt to recover their investment losses. For more information, please visit our website, www.whitesecuritieslaw.com.
