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: FinancialCounselLPL Loses $1.4 Million in FINRA Arbitration involving TICs
By James Eccleston
LPL Financial recently was ordered to pay $1.4 million to an elderly California couple who alleged that the firm defrauded them when it sold them tenant in common investments.
The couple was sold private placement investments in Direct Invest, LLC, which allegedly contained material misreprensentations about the financial projections of the real estate market and the actual properties. These investments were allegedly sold to the couple as investments that offered steady distribution rates.
Two other firms, Orchard Securities, LLC and Meridian Capital Partners, LLC, were also named in the arbitration action.
Eccleston Law represents individual and institutional investors nationwide to recover their investment losses caused by unsuitable investment recommendations, breach of fiduciary duty, negligence or other misconduct. We have extensive experience representing investors in arbitration and litigation disputes with securities broker-dealers and investment advisory firms, and have recovered tens of millions of dollars for investors.
If you are an investor that has suffered substantial losses investing TICs or other real estate investments with LPL Financial, Orchard Securities, or Meridian Capital Partners, your losses may be recoverable through securities arbitration. Please contact Jim Eccleston at the Eccleston Law Offices at 312-332-0000 to discuss your recovery options.
Full post as published by FinancialCounsel on February 14, 2012 (boomark / email).
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