Articles Tagged with REIT securities attorney

shutterstock_176283941-300x200Advisor Steven Case (Case), currently employed by LPL Financial LLC (LPL Financial) has been subject to at least two customer complaints during the course of his career.  According to a BrokerCheck report some of the customer complaints concerns alternative investments such as direct participation products (DPPs) like non-traded real estate investment trusts (REITs), oil & gas programs, annuities, and equipment leasing programs.  The attorneys at Gana Weinstein LLP have witnessed a spike in clients needing representations concerning these alternative investment programs that produce profits only for broker-dealers at the expense of their clients.

 

In May 2019 a customer complained that Case violated the securities laws by alleging poor investment advice concerning the purchase of three alternative investment products. The is currently pending.

 

In October 2012 a customer complained that Case violated the securities laws by alleging that Case made unsuitable investment recommendations in non-traded REITs. The claim was settled by the firm for $20,000.

 

DDPs include products such as non-traded REITs, oil and gas offerings, equipment leasing products, and other alternative investments.  These alternative investments virtually never profit investors and are almost always unsuitable for investors because of their high fee and cost structure.  Brokers selling these products are paid additional commission in order to hype these inferior quality investments providing a perverse incentives to create an artificial market for the investments. Continue Reading

shutterstock_12144202-300x200Advisor Michael Fassi (Fassi), currently employed by Centaurus Financial, Inc. (Centaurus Financial) has been subject to at least two customer complaints and one bankruptcy during the course of his career.  According to a BrokerCheck report some of the customer complaints concern alternative investments such as direct participation products (DPPs) like non-traded real estate investment trusts (REITs), oil & gas programs, annuities, and equipment leasing programs.  The attorneys at Gana Weinstein LLP have extensive experience handling investor losses caused by these types of products.

In April 2019 a customer complained that Fassi violated the securities laws by alleging that the financial advisor recommended an unsuitable investment and several other allegations associated therewith in October 2015 causing $11,000 in damages. The claim is currently pending.

In November 2018 a customer complained that Fassi violated the securities laws by alleging that the financial advisor recommended an unsuitable investments in 2012 and several other allegations associated causing $275,498 in damages. The claim is currently pending.

Our firm often handles cases involving annuities and direct participation products, Non-Traded REITs, oil and gas offerings, equipment leasing products, and other alternative investments.  These products are almost always unsuitable for investors.  In addition, the brokers who sell them are paid additional commission in order to hype inferior quality investments which provides a perverse incentives by brokers to create an artificial market for products that no honest advisor would sell.

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