FINRA claim filed against VSR Financial Over Alternative Investment Losses

The White Law Group announces the filing of a FINRA arbitration claim against VSR Financial involving various alternative investments.
 
 
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Odyssey Diversified

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Business
Legal

Location:
West Palm Beach - Florida - US

WEST PALM BEACH, Fla. - April 21, 2014 - PRLog -- The claim, filed by The White Law Group, was submitted to FINRA Dispute Resolution on behalf of two Lake Worth, Florida investors alleging claims for violation of common law fraud, breach of fiduciary duty, negligence, and negligent supervision. The claim further alleges that VSR Financial unsuitably invested the clients in the following alternative investments (among others):

Waveland NeoMatrix, LLC

NetREIT

Inland American Real Estate Trust, Inc.

United Development Funding III

Odyssey Diversified VI Secured 9% Note

Atlas America Series 26-2005

Odyssey Diversified IX Secured 9.25% Note

Reef Saltwater Disposal 2007

Waveland Vestara

The claim seeks damages between $100,000 and $499,999.99.

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 VSR Financial failed to perform the necessary due diligence on these investments prior to recommending them to these particular investors.

When asked about the claim, D. Daxton White, the firm's managing partner, stated "This claim bears striking similarities to other claims we have filed against VSR involving similar alternative investments."

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.

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Source:The White Law Group
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Tags:Odyssey Diversified
Industry:Business, Legal
Location:West Palm Beach - Florida - United States
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