Investor’s rights attorney Chris Vernon and the Vernon Litigation Group file claim against FSC Securities Corporation over Stan Energy, Evergreen Energy, I-shares Silver, and Invizeon Investments
(Newswire.net — March 31, 2015) Naples, Florida — Investor’s rights attorney Chris Vernon has filed an arbitration claim against FSC Securities Corporation for the wrongful endorsement and sale of several highly risk-oriented investments to a client looking to invest his retirement savings. This is the most recent of Vernon Litigation Group’s multiple claims against FSC Securities Corporation related to a terminated FSC financial advisor in Montana. The financial advisor, Barry Hartman, was terminated by FSC within the last thirty days based on allegations that he violated firm policies, including his participation in outside business activities and private securities transactions. Vernon Litigation Group, based on its investigation, believes the outside business activity and private securities transaction involved includes Invizeon.
The latest claim filed recently in FINRA arbitration by Vernon Litigation Group attests to the FSC Securities Corporation advisor’s dealings with a client looking to invest the bulk of his retirement savings. According to the claim, the advisor assured him that he was able to provide him with investments that were conservative and safe.
The claim describes how the advisor proceeded to invest the funds into investments that were neither conservative nor safe, but was, in fact, illiquid and speculative. The investments at issue were Stan Energy, Evergreen Energy, I-shares Silver, and Invizeon.
The claim states that the advisor falsely represented these investments. Based on the advisor’s alleged representations, the client agreed to place his savings into the recommended investments. The claimant was assured these investments were not risky.
The claim asserts that these were, in fact, speculative, illiquid investments that carried great risk. The advisor claimed he was having great success and very positive returns on these investments. However, the advisor did not disclose the high risks and illiquidity concerns associated with his recommendations. As such, the client has suffered dramatic losses in his investments. The claim asserts that it was unsuitable to place his funds in these high-risk investments.
Concerning the Invizeon investments, the advisor-sold the claimant $160,000 worth of promissory notes, warrants, and stock. While the advisor made many claims as to his certitude regarding the fidelity of this investment (he claimed he was on the company board of directors and that the company was run by his best friend), the Claim asserts that the claimant will likely end up losing the entirety of the principal invested.
In the claim, the investor states that the advisor, among other legal damages, acted in a negligent manner. The claim also makes allegations pertaining to the advisor’s breach of fiduciary duty, negligence, breach of contract, failure to supervise, negligent hiring, and violations of the conduct rules of the Financial Industry Regulatory Authority. The client is seeking compensatory damages, along with costs and attorney’s fees.
Investor’s rights attorney Chris Vernon continues to represent investors across the country who have suffered considerable losses from alternative investments, such as Hedge Funds, Structured Products such as V10, and non-traded REITs such as Icon Leasing Fund Twelve and Behringer Harvard REIT (n/k/a TIER REIT, Inc.). As a veteran of many securities claims and cases, the attorneys of Vernon Litigation Group recommend you to contact them if you are concerned about your investments with FSC Securities Corporation, Invizeon, or other investments or the circumstances under which any significant investments were offered and sold to you by any financial institution or financial advisor. Call Vernon Litigation Group at (239) 319-4434.
About Vernon Litigation Group
Vernon Litigation Group is a law firm with offices in Florida (Naples and Orlando) and Georgia (Atlanta), that represents clients in Financial Litigation and Arbitration throughout the United States.
VERNON LITIGATION GROUP
999 Vanderbilt Beach Road, Suite 200, The Fifth Third Center
Naples, Florida United States 34108239-649-5390