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FINRA Arbitration Filed Against Commonwealth Financial Network

The White Law Group announces the filing of a FINRA arbitration claim against Commonwealth Financial Network involving alternative investments.

BEND, Ore. - Feb. 7, 2014 - PRLog -- The claim, filed by The White Law Group, was submitted to FINRA Dispute Resolution on behalf of an Oregon investor alleging claims for violation of common law fraud, breach of fiduciary duty, negligence, and negligent supervision. The claim further alleges that Commonwealth Financial Network unsuitably invested the client in the following investments (among others):

Cypress Equipment Fund 14


The claim seeks damages of $250,000.

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 Commonwealth Financial failed to perform the necessary due diligence on these investments prior to recommending them to this particular investor.

When asked about the claim, D. Daxton White, the firm's managing partner, stated "We have filed a number of claims similar to this one over the last few years.  Unfortunately, the risk of these high-commission alternative investments appears to have often been under disclosed."

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 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.

The White Law Group

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Source:The White Law Group
Location:Bend - Oregon - United States
Industry:Business, Legal
Tags:KBS REIT, Cypress Equipment, Finra Arbitration, Commonwealth Financial
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