Lion Street Financial and Triad Advisors Lawsuit Alleges High-risk Alternative Investments
The White Law Group announces the filing of a FINRA arbitration claim against Lion Street Financial and Triad Advisors for investment losses involving high risk alternative investments.
The firm submitted a claim to FINRA Dispute Resolution on behalf of a Colorado family, alleging claims for violation of common law fraud, breach of fiduciary duty, negligence, and negligent supervision.
The claim further alleges that Lion Street Financial and Triad Advisors unsuitably invested its clients in the following alternative investments, among others:
Atlas Growth Partners
GWG Holdings Inc. Preferred Stock
GWG L Bonds
GPB Automotive Portfolio LP
GPB Holdings LP
FS Investment Corporation
Hospitality Investors Trust, Inc.
The claim seeks damages of $100,000.01 to $500,000.00.
Broker dealers have a fiduciary duty to adequately disclose the risks involved in an investment before recommending it, and must perform the necessary due diligence to determine whether the investment is suitable for the investor. It is alleged that Lion Street Financial and Triad Advisors failed to perform the necessary due diligence on these investments prior to recommending them to these particular investors.
FINRA Dispute Resolution is an arbitration venue for investors with claims against their brokerage firm or financial professional. It provides investors with an opportunity to attempt to recoup their investment losses and is an alternative to filing such claims in court.
“We believe there are many more investors who have suffered losses due to unsuitable investment recommendations who may not realize they have recourse, or may be unaware of any wrongdoing,” said D. Daxton White, managing partner of The White Law Group, a national securities fraud, securities arbitration, investor protection and securities regulatory/compliance law firm with offices in Chicago, Illinois and Seattle, Washington.
“Brokerage firms are required to supervise their advisors to make sure that they are complying with 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.
For more information on the claim filed by The White Law Group, please contact the firm at 1-888-637-5510. To learn more about the White Law Group and its representation of investors in FINRA arbitration claims, please visit https://www.whitesecuritieslaw.com.
For more information on the White Law Group’s claims involving GWG Holdings Inc and GPB Capital, Inc, please see: GWG Holdings * GWG L Bonds * Investor Lawsuits for Recovery and GPB Capital Execs Arrested for Allegations of “Ponzi-like Scheme”
Tags: Atlas Growth partners lawsuit, FS Investments lawsuit, GPB Capital, GWG Holdings Capital, Hospitality Investors Trust, Lion Street Financial, securities fraud attorneys, Triad Advisors Last modified: December 7, 2022