The White Law Group Files a Claim against Sunbelt Securities
The White Law Group announces the filing of a FINRA arbitration claim against Sunbelt Securities for investment losses involving high risk alternative investments.
The firm submitted a claim to FINRA Dispute Resolution on behalf of a Missouri resident alleging claims for violation of common law fraud, breach of fiduciary duty, negligence, and negligent supervision.
The claim further alleges that Sunbelt Securities unsuitably invested its client in high-risk alternative investments including the following:
GK Preferred Income Fund III
Terra Income Fund 6, Inc.
HPI Real Estate Opportunity Fund IV, LLC
Mill Green Opportunity Fund II, LLC
The claim seeks damages of $100,000.01 and $300,000.00.
Brokerage firms have a fiduciary duty to adequately disclose the risks involved in an investment before recommending it to its clients. It must perform the necessary due diligence to determine whether the investment is suitable for the investor. It is alleged that Sunbelt Securities failed to perform the necessary due diligence on these investments prior to recommending them to this particular investor. FINRA, the regulator who oversees brokers and brokerage firms, provides FINRA Dispute Resolution as an arbitration venue for investors with claims against their brokerage firm or financial advisor. It provides investors with an opportunity to attempt to recoup their investment losses and is an alternative to filing a claim in court. “Investors often suffer losses due to unsuitable investment recommendations by their brokers and don’t realize they have recovery options,” said D. Daxton White, managing partner of The White Law Group, a national securities fraud and FINRA arbitration firm. Brokerage firms are required to supervise their representatives to make sure that they are following 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.
