Financial Advisor Jeffrey Labelle, LPL Financial in Sarasota, Florida
The White Law Group is investigating potential securities claims involving Jeffrey Labelle and the liability his former employers may have for failure to properly supervise him.
According to the Financial Industry Regulatory Authority (FINRA), Jeffrey Labelle has recently been the subject of 6 pending customer complaints for allegations of unsuitable investments with a total of 12 complaints reportedly filed against him in the past 10 years.
On September 3, 2020 a customer reportedly filed a complaint alleging that “that their financial advisor recommended investments that were not suitable for them. Claimants generally allege misrepresentation, negligence, and breaches of duty and contract.” The damage amount requested was $350,000.
On August 28, a customer reportedly filed a complaint for allegations “that the financial advisor recommended unsuitable investments. Claimant generally alleges breach of fiduciary duty and negligence.” The damage amount requested was $175,000.
On August 25, a customer reportedly filed a complaint requesting damages of $350,000 for allegations of “over-allocation in illiquid investments. Activity period: 7/24/18 TO 12/23/19.”
On July 1, a customer reportedly filed a complaint for allegations that “financial adviser recommended unsuitable investments. Claimant generally alleges unsuitability, due diligence, fraud, failure of supervision, negligence and breach of fiduciary duty.” The damage amount requested was $100,000.01
On April 17, a customer reportedly filed a complaint requesting damages of $300,000 for allegations of “Breach of Fiduciary duty, Violation of FINRA rules, breach of contract and negligence.”
According to his FINRA BrokerCheck report, Labelle was reportedly affiliated with LPL Financial in Sarasota, Florida from July 2018 until December 2019. Prior to that, he was reportedly registered with First Allied Securities in Sarasota, FL from 2012 until 2018.
Investigating Potential Lawsuits
The White Law Group is investigating potential lawsuits regarding the liability that Labelle’s employers may have for failure to properly supervise him.
When brokers violate securities laws, such as making unsuitable investments, the brokerage firm they are working with may be liable for investment losses through FINRA Arbitration. Brokerage firms that fail to monitor the business activities of their employees may be liable for investment losses due to negligent supervision for the misconduct of their employees.
The White Law Group is a national securities fraud, securities arbitration, and investor protection law firm with offices in Chicago, Illinois and Franklin, Tennessee.
We represent investors in FINRA arbitration claims in all 50 states, including Florida. Our attorneys have recovered tens of millions of dollars from multitude of brokerage firms in the past.
If you are concerned about your investments with Jeffrey Labelle, please call the securities fraud attorneys at The White Law Group at 888-637-5510 for a free consultation.
For more information on The White Law Group, and its representation of investors, please visit www.WhiteSecuritiesLaw.com.