FINRA Arbitration filed against Sigma Financial to recover Tenant-In-Common Investment Losses

Feb. 3, 2012 - PRLog -- The claim, filed against Sigma Financial Corporation, seeks recovery of investment losses of over $1,700,000.

The claim filed by The White Law Group was submitted on behalf of two California investors and alleges claims for fraud, breach of fiduciary duty, negligence, and negligent supervision. The claim specifically alleges that the investors were unsuitably invested in various TIC investments and that Sigma Financial only selected these investments 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 clients.  

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:  Covington Main Street Commons, a retail property in St. Charles, Illinois; Mission Bellevue Ridge, a 260 unit apartment complex in Nashville, Tennessee; TIC Connor Farms, a multi-tenant community located in Indianapolis, Indiana; NNN Mt. Moriah Apartments 1, an apartment complex located in Memphis, Tennessee; and Mission Antioch, an 800 unit apartment complex in Nashville, Tennessee.

For more information on the claim filed by The White Law Group, please contact the firm’s Chicago office at 312-238-9650.

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The White Law Group, LLC is a national securities fraud, securities arbitration, investor protection, and securities regulation/compliance law firm.

For more information on the firm visit http://www.whitesecuritieslaw.com.