The White Law Group announces the filing of a FINRA claim against Centaurus Financial for investment losses involving high-risk, non-traded REITs.
The White Law Group submitted a claim to FINRA Dispute Resolution on behalf of a group of investors, alleging claims for violation of common law fraud, breach of fiduciary duty, negligence, and negligent supervision.
The claim further alleges that Centaurus Financial Inc. unsuitably invested its clients in the following high-risk alternative investments, among others:
The Parking REIT
Atlas Growth Partners, LP
VII Peaks Capital, LLC
Hines Global Income Trust
Atel Capital Group
F S Global
Carter Validus Mission Critical REIT II
Moody National REIT
The claim seeks damages of more than $1,000,000.00.
It is alleged that Centaurus Financial Inc. failed to perform the necessary due diligence on these investments prior to recommending them to these particular investors. Broker-dealers have a fiduciary duty to adequately disclose the risks involved in an investment before recommending it, and must perform the necessary due diligence to determine whether the investment is suitable for the investor.
FINRA Dispute Resolution is an arbitration venue for investors with claims against their brokerage firm or financial professional. It provides investors with an opportunity to attempt to recoup their investment losses and is an alternative to filing such claims in court.
“We believe there are many more investors who have suffered losses due to unsuitable investment recommendations who don’t realize they have recourse, or may be unaware of any wrongdoing,” said D. Daxton White, managing partner of The White Law Group, a national securities fraud, securities arbitration, investor protection and securities regulatory/compliance law firm with offices in Chicago, Illinois and Seattle, Washington.
“Brokerage firms are required to supervise their advisors to make sure that they are complying with FINRA rules. If it can be determined that the financial advisor’s employers failed to adequately supervise him, these firms can be held responsible for any resulting losses in a FINRA arbitration claim.”
The White Law Group is a national securities fraud, securities arbitration, and investor protection law firm with offices in Chicago, Illinois and Seattle, Washington.
To learn more about the claim filed by The White Law Group, please contact the firm at 1-888-637-5510.
For more information on the White Law Group and its representation of investors in FINRA arbitration claims, visit https://www.whitesecuritieslaw.com. To learn more about the firm’s investigation of Centaurus Financial, please see: Centaurus Financial Lawsuits: How to Recover Financial Losses involving GWG.. and Centaurus Financial – Broker Misconduct, Customer Complaints and Regulatory Actions .