The claim filed by The White Law Group was submitted on behalf of a California investor and alleges claims for fraud, breach of fiduciary duty, negligence, and negligent supervision. The claim specifically alleges that the investor was unsuitably invested in TIC investments and that Sigma Financial only selected the investment because of the commission generated as a result of the recommendation. The claim further alleges that Sigma Financial failed to perform the proper due diligence on the TIC investments prior to offering them for sale to its client.
Broker-dealers have a fiduciary duty to research investments prior to recommending them for sale to its clients and to ensure that the investments in recommends are appropriate for the client in light of the clients age, investment experience, net worth, and investment objectives.
The claim alleges losses incurred in the following TIC properties: Mission Bellevue Ridge (a 260 unit apartment complex in Nashville, Tennessee), US Advisors Houston Levee (a DST property in Houston, Texas), Mission Briley Parkway, and Mission Matthews Place.
For more information on the claim filed by The White Law Group, please contact the firm's Chicago office at 312-238-9650.
The White Law Group is a national securities fraud, securities arbitration, and investor protection law firm with offices in Chicago, Illinois and Boca Raton, Florida. For more information on The White Law Group and its representation of investors in FINRA arbitration claims, visit http://www.whitesecuritieslaw.com.