Lawsuit filed against Western International Securities
The White Law Group announces the filing of a FINRA Lawsuit against Western International Securities involving two barred financial advisors – Clement Lancelot Chichester and Brittney Jade Sias.
The White Law Group announces filing of a FINRA Arbitration lawsuit. The claim, submitted on behalf of a California resident allege claims for violation of common law fraud, breach of fiduciary duty, negligence, and negligent supervision.
The claim further alleges that Western International unsuitably invested the client in the following high-risk alternative investments:
Hospitality Investors Trust Inc.
New York City REIT
Sierra Income Corp.
American Finance Trust
The FINRA claim seeks damages between $250,000.00 and $500,000.00.
It is alleged that Western International failed to perform the necessary due diligence on these investments prior to recommending them to this particular investor and that the firm failed to supervise two advisors , Clement Chichester and Brittney Sias, that have been barred from the brokerage industry by FINRA.
Before recommending an investment, a broker-dealer has a fiduciary duty to adequately disclose the risks involved in the investment and to perform the necessary due diligence to determine whether the investment is suitable for the investor.
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 their 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 the financial advisor violated FINRA rules and the employers failed to adequately supervise him, these firms can be held responsible for any resulting losses in a FINRA arbitration claim.”
FINRA Dispute Resolution
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 without filing such claims in court.
The White Law Group is a national securities fraud, securities arbitration, and investor protection law firm with offices in Chicago, Illinois and Franklin, Tennessee.
For more information The White Law Group and the lawsuit filed against Western International, please contact the firm at 1-888-637-5510 or visit https://www.whitesecuritieslaw.com.