Securities Lawyers Blog
According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Dana Hollinger (Hollinger), previously associated with Abg, LLC, has at least one disclosable event. These events include one customer complaint, alleging that Hollinger recommended unsuitable investments in different investment products including debt securities among other allegations and complaints.
FINRA BrokerCheck shows a settled customer complaint on March 07, 2022.
The names customers filed an action entitled Choe v. Hermann in the Orange County Superior Court in 2020 against a prior broker and an insurer. The action involves two large life insurance policies sold by other insurance brokers in the past and used as collateral for a large premium finance loan arranged by one of the prior brokers. My involvement was limited to explaining to the Plaintiff and his advisors the options available for repayment of the premium of the loan, including surrender or sale of the life insurance policies. In February 2022, I was named in a cause of action for equitable indemnity in Defendant Ira Hermann's cross-complaint, which alleged my explanation of options contributed to Plaintiff's damages. When my E&O carrier denied coverage based upon an exclusion (which I believe was improper), Plaintiffs added me as a Doe defendant No. 1 to the Complaint as to the professional negligence cause of action only.