Center Street Securities Lawsuit Alleges Unsuitable Investment Recommendations
The White Law Group recently announced that it has filed a FINRA Lawsuit against Center Street Securities on behalf of a Sellersburg, Indiana couple, requesting damages for alleged violation of common law fraud, breach of fiduciary duty, negligence, and negligent supervision.
The Statement of Claim alleges Center Street unsuitably invested its client in the following high risk private placement investments:
NorthStar Healthcare Income Inc.
Hospitality Investors Trust
ARC Healthcare Trust II (Healthcare Trust, Inc.)
Business Development Corp. of America (BDCA)
The claim seeks damages between $100,000.00 and $200,000.00.
According to D. Daxton White, managing partner of The White Law Group, “It is unfortunate, but we believe that many more investors have suffered devastating losses due to the broker-dealer’s failure to supervise and don’t realize they have recovery options.”
“Brokerage firms are required to supervise their advisors to ensure that they are complying with FINRA rules. If it can be determined that Center Street violated FINRA rules, it can be held responsible for any resulting losses in a FINRA arbitration claim.”
According to the Statement of Claim, Center Street Securities allegedly failed to perform the necessary due diligence on these investments prior to recommending them to these particular investors.
The White Law Group, LLC is a national securities fraud, securities arbitration, investor protection, and securities regulation/compliance law firm with offices in Chicago, Illinois and Franklin, Tennessee.
The firm has handled more than 600 FINRA arbitration claims alleging claims for unsuitable investment recommendations, conversion, breach of fiduciary duty, selling away, fraud and other issues.
For more information The White Law Group and the claim filed against Center Street Securities, please contact the offices at 1-888-637-5510 or visit https://www.whitesecuritieslaw.com.