The White Law Group files FINRA Arbitration Claim against World Equity Group Inc.

The White Law Group announced the filing of a Financial Industry Regulatory Authority (FINRA) arbitration statement of claim this week against World Equity Group Inc. The lawsuit was submitted to FINRA Dispute Resolution on behalf of a Palatine, IL resident alleging claims for violation of common law fraud, breach of fiduciary duty, negligence, and negligent supervision.

The claim further alleges that World Equity Group Inc. unsuitably invested the client in the following alternative investments:

American Finance Trust
ARC New York City REIT (New York City REIT)
Benefit Street Partners Realty Trust

The claim seeks to recover alleged losses between $100,000.01 and $500,000.00.

It is alleged that World Equity Group Inc. failed to perform the necessary due diligence on these investments prior to recommending them to this investor.

Before recommending an investment, a broker-dealer has a fiduciary duty to adequately disclose the risks involved in the investment and to perform the necessary due diligence to determine whether the investment is suitable for the investor.

When asked about the claim, The White Law Group’s managing partner, D. Daxton White said, “Brokerage firms are required to supervise their advisors to ensure that they are complying with FINRA rules. If it can be determined that the financial advisor violated FINRA rules and the employers failed to adequately supervise him, these firms can be held responsible for any resulting losses in a FINRA arbitration claim.”

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.

For more information on the claim filed by The White Law Group, please contact the firm’s offices at (888) 637-5510.

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 and Franklin, Tennessee.

For more information on The White Law Group and its representation of investors in FINRA arbitration claims, visit http://whitesecuritieslaw.com.

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