Lawsuit Filed Against H. Beck, Inc. for Investment Losses

CHICAGO - Sept. 29, 2016 - PRLog -- Lawsuit Filed Against H. Beck, Inc. for Investment Losses

The White Law Group announces the filing of a FINRA arbitration claim against H. Beck, Inc. involving high-risk private placement investments.

The claim, filed by The White Law Group, was submitted to FINRA Dispute Resolution on behalf of two Clifton, Virginia investors alleging claims for violation of common law fraud, breach of fiduciary duty, negligence, and negligent supervision. The claim further alleges H. Beck, Inc. unsuitably invested the client in the following investments:

Reef Global VI
Reef Global VII
Reef Global IX
Atlas 24-2003B
Atlas 25-2004B
Atlas 14-2004
Atlas 15-2005A
Atlas Public 6
Atlas 15-2006B
Atlas 27-2006
Atlas 14-2005A
Atlas 28-2010
Atlas 18-2009C
Atlas 33-2013
FS Energy & Power Fund
FS Investment Corp. II
Petroleum Development Co

The claim seeks damages between $500,000 and $1,000,000.

"We believe there are many more investors who have suffered losses in private placement investments who just 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 Vero Beach, Florida.

"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."

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. It is alleged that H. Beck, Inc. failed to perform the necessary due diligence on these investments prior to recommending them to these particular investors.

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.

For more information on the claim filed by The White Law Group, please contact the firm at 1-888-637-5510 or visit https://www.whitesecuritieslaw.com.