POMPANO BEACH, Fla.
- May 15, 2020
-- A New Jersey resident hired the securities arbitration law firm Soreide Law Group to recover his more than $400,000 in losses from investments made with American Portfolios Financial advisor Brian Joseph Dibrino ("Dibrinio") who currently works in Fairfield, NJ. Dibrinio markets his practice and advisory group Northern Advisory Group but is licensed and registered with American Portfolios. According to FINRA arbitration complaint that was filed, Dibrinio sold high risk bonds that were unsuitable for the Claimant.
The Claimant filed his case after sustaining dramatic losses in: PHI Group (symbol PHIL), Diamond Offshore Drilling (symbol DOFSQ), Valris PLC (VAL), Alliance One Intl to name a few. Many of these investments including PHI Group and Diamond offshore have already filed for Chapter 11 bankruptcy. The lawsuit alleges that Brian Dibrino recommended these positions to the Claimant in large concentrations and it is believed that Dibrino sold many other clients the same or similar investments. It is alleged that the Claimant did not want to be exposed to the risk these alleged unsuitable investments created which resulted in devastating losses to his portfolio.
The Claimants attorney Lars Soreide, Esq., through his firm Soreide Law Group anticipates more securities arbitration claims are likely to be filed by clients of Dibrino in the near future. If you lost money with Brian Dibrino of Northern Advisory Group in any of the aforementioned investments please contact Soreide Law Group today at (888)760-6552.
The lawsuit filed on behalf of the Claimants accused American Portfolios and Dibrino, of negligence, breach of fiduciary duty, negligent supervision. American Portfolios and Dibrino have yet to file Answer to the allegations and it is anticipated they will deny any wrong doing.
The lawsuit is being arbitrated through FINRA case number 20-01526. If you were a former customer of American Portfolios and Dibrino and sustained substantial losses contact Soreide Law Group today for a free consolation. We represented investors nationwide through the FINRA Dispute Resolution Forum and only get paid out of the successful settlement or award proceeds should we able to recover your losses. For more information call (888) 760-6552 or visit https://www.SecuritiesLawyer.com