Complex ETF Lawsuit – Brokers May Be Liable for Unsuitable Recommendations Including Inverse and Leveraged ETFs
If your broker recommended you invest in complex, non-traditional, leveraged, or inverse ETFs, you may have a right to bring a claim to recover losses you may have suffered.
If your broker recommended you invest in FS Investment Corporation II, you may have a legal claim to recover losses you have suffered.
MSC Income Fund, formerly known as HMS Income Fund, is a principal investment fund that works to provide debt and equity financing solutions primarily to private U.S. companies. According to Hines Securities’ website, a new advisory agreement approved by HMS Income fund’s shareholders, the subsidiary of Main Street Capital Corporation that had been serving as the Fund’s sub-advisor is now the sole investment advisor and administrator of the Fund. Because of this transaction, HMS Income Fund is now known as MSC Income Fund, Inc.
Healthcare Trust Inc. is a publicly registered non-traded REIT (real estate investment trust) that was sponsored by AR Global. Healthcare Trust Inc. was originally known as American Realty Capital Healthcare Trust II, Inc. Healthcare Trust was a high risk investment, and it should have only been recommended to investors who could afford a complete loss of their investment. Brokers and brokerage firms who did not conduct appropriate due diligence or unsuitably recommended their clients invest in Healthcare Trust Inc. may be liable for losses suffered by investors
J.D. Phillips Jr, Previously Registered Broker From MetLife Securities, Accused of Unfair and Deceptive Trade Practices
J.D. Phillips, whose full name is John Dalton Phillips, Jr., previously registered broker with MetLife Securities, Inc., is the subject of multiple customer disputes, according to BrokerCheck, an online broker research online tool offered by Financial Industry Regulatory Authority (FINRA).
Five of these disputes have been resolved, and four remain pending.
Previously Registered Investment Adviser Jeffrey Raymond Dixson Allegedly Made Unsuitable Investment Recommendations
Financial Industry Regulatory Authority (FINRA) has published a BrokerCheck report on previously registered broker and investment adviser Jeffrey Raymond Dixson, showing multiple customer disputes and one regulatory dispute.
As of this writing, Dixson has been the subject of 20 customer disputes, nine of which are still pending. He also faced a regulatory dispute in 2007.
Recently, professional athletes and various high-profile celebrities have joined in on the boom of SPACs (Special Purpose Acquisition Companies), causing the U.S. Securities Exchange Commission to caution investors about investments in SPACs. Athletes like Stephen Curry, Serena Williams, Alex Rodriguez, and Colin Kaepernick are among those notable names who have invested in SPACs.
FINRA registered broker Masood Husain Azad (also known as Mike H. Azad) has been barred by the regulatory authority following allegations from clients dating back to 2017. First Allied Securities Inc. terminated Mr. Azad’s employment in May of 2017 following allegations of violating a Firm policy regarding borrowing money from clients. Azad was also allegedly engaging in outside business activity and unapproved private securities transactions.
Ameriprise Broker Mark Joseph Sachse Discharged and Barred Following Allegations of Fraud and Misconduct
Mark Joseph Sachse is a previously registered broker and investment adviser who has been barred by FINRA following allegations of violating company policies and recommending unsuitable investments to his clients.
According to FINRA’s BrokerCheck, James Henry Dresselaers has had his FINRA registration revoked as of December 2019 following failure to pay fines and/or costs. The former broker had 34 years of experience in the securities industry associated with six different firms. Including three regulatory finals, there have been eight disclosures involving Mr. Dresselaers.