Lawsuit Filed Against Sammons Securities Company, LLC for Investment Losses

MINNETONKA, Minn. - July 6, 2017 - PRLog -- The claim, filed by The White Law Group, was submitted to FINRA Dispute Resolution on behalf of a two Minnesota residents alleging claims for violation of common law fraud, breach of fiduciary duty, negligence, and negligent supervision. The claim further alleges that Sammons Securities Company, LLC unsuitably over-concentrated the investors in the following Tenants-in-common (TICs) alternative investments causing substantial losses:

Bluerock – BR1355 First Avenue Development LLC
5200 Upper Metro 24, LLC

The claim seeks damages between $100,000 and $320,000.

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 Sammons Securities Company, LLC failed to perform the necessary due diligence on these investments prior to recommending them to these particular investors.

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 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 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's Chicago office at 888-637-5510.

The White Law Group is a national securities fraud, securities arbitration, and investor protection law firm with offices in Chicago, Illinois and Vero Beach, Florida.

For more information on The White Law Group and its representation of investors in FINRA arbitration claims, visit http://www.whitesecuritieslaw.com.