Lawsuit Filed Against HD VEST and Karl Foust for the sale of Wimbledon Health Partners Notes
Soreide Law Group files a FINRA arbitration claim against HD VEST and Karl Foust for the sale of Wimbledon Health Partners Notes
FORT LAUDERDALE, Fla. - Jan. 22, 2019 - PRLog -- A South Florida trustee has hired the securities arbitration law firm, Soreide Law Group, to recover their $200,000 investment in Wimbledon Health Partners, LLC. On or about February 2014 HD Vest Investment Services broker Karl Foust recommended to our clients to loan $200,000 to Wimbledon Health Partners. It is alleged in the FINRA arbitration claim that Karl Foust never disclosed to Claimants that he served as the Chief Financial Officer at Wimbledon from January 2014 through May 2015. The Claimants also allege that Foust described the investment as a "sure thing" and "safer than the stock market". Wimbeldon Health Care Partners defaulted on the note and did not return any of the $200,000 principal investment that was promised to the investors.
The Claimants through their attorney Lars Soreide, Esq., have accused HD Vest and broker Karl Foust, of negligence, breach of fiduciary duty, negligent supervision, breach of contract and violations of the Florida Investor's Protection Act. The Claimants are seeking damages in excess of $200,000 plus attorneys fees for their alleged violations if liability if found under Florida Statute Chapter 517. The suit also alleges that HD VEST Advisory services failed to supervise their financial advisor Foust. HD VEST and Foust have yet to file Answer to the allegations. Foust has a reported seven customer complaints on his FINRA broker check CRD records. FOUST has not been registered with any FINRA firm since June of 2014.
Lars Soreide, Esq., expects the case to be arbitrated by the summer of 2019. If you invested in Wimbledon Health Care Partners through Karl Foust before June of 2014, please call (888) 760-6552 or Local number (954) 70-6552 or visit https://www.SecuritiesLawyer.com for more information. Soreide Law Group represents investors Nationwide on a contingency fee basis and we advance all costs. Call for a free consolation today. The suit is being arbitrated through Finra case number 19-00258 and HD Vest and Karl Ronald Foust have yet to file a response.