With the latest filing, FINRA claims filed thus far by Vernon Litigation Group related to Barry Hartman and FSC approaching a million dollars.
(Newswire.net — April 28, 2015) Naples, Florida — Investor’s rights attorneys Chris Vernon and Kristian Kraszewski have filed another arbitration claim against FSC Securities Corporation related to the wrongful recommendation and sale of several highly risk-oriented investments to a client looking to invest her retirement savings. This is the most recent of Vernon Litigation Group’s multiple claims against FSC Securities Corporation related to Barry Hartman, a terminated FSC financial advisor in Montana. Claims filed thus far by Vernon Litigation Group related to Barry Hartman are now approaching $1 million.
The financial advisor, Barry Hartman, was terminated by FSC recently based on allegations that he violated firm policies, including his participation in outside business activities and private securities transactions. Vernon Litigation Group, based on its investigation, believes the outside business activity and private securities transaction involved includes Invizeon.
Advisor Assurances Run Contrary to the Claims
The latest claim filed recently in FINRA arbitration by Vernon Litigation Group attests to the FSC Securities Corporation advisor’s dealings with a 75-year-old widow looking to invest the bulk of her and her late husband’s retirement savings. According to the claim, the advisor assured her that he was able to provide her with investments that were conservative and safe. The claim describes how the advisor proceeded to invest the funds into investments that were neither conservative nor safe, but was, in fact, illiquid and speculative.
The claim states that the advisor falsely represented the investments at issue. Based on the advisor’s alleged representations, the client agreed to place her savings into the recommended investments. The claimant was assured these investments were not risky. The claim asserts that these were, in fact, speculative, illiquid investments that carried great risk. The advisor claimed he was having great success with these investments. However, the advisor did not disclose the high risks and illiquidity concerns associated with his recommendations. As such, the client suffered significant damages. The claim asserts that it was unsuitable to place her funds in these high-risk investments.
POSSIBLE LACK OF SUPERVISION LEADS TO DAMAGES
According to the Claim, Mr. Hartman advised the 75-year-old widow that he was selling Behringer Harvard REITs to his clients and that the investment would provide 7% returns. Even as the global markets have enjoyed record returns, the client suffered losses. In the claim, the investor states that FSC failed to properly supervise Barry Hartman. The client is seeking compensatory damages, along with costs and attorney’s fees.
Investor’s rights attorney Chris Vernon continues to represent investors across the country who have suffered considerable losses from alternative investments, such as Hedge Funds, Structured Products such as V10, non-traded REITs such as Behringer Harvard REIT (n/k/a TIER REIT, Inc.). As a veteran of many securities claims and cases, the attorneys of Vernon Litigation Group recommend you to contact them if you are concerned about your investments with FSC Securities Corporation, Invizeon, or other investments or the circumstances under which any significant investments were offered and sold to you by any financial institution or financial advisor. Call Vernon Litigation Group at (239) 319-4434.
About Vernon Litigation Group
Vernon Litigation Group is a law firm with offices in Florida (Naples and Orlando) and Georgia (Atlanta) that represents clients in Financial Litigation and Arbitration throughout the United States. For a more detailed summary of background and qualifications of the attorneys at Vernon Litigation Group, view their website at Vernonligation.com.
VERNON LITIGATION GROUP
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