Are You A Colorado Bankers Life Insurance Annuity Investor Whose Citizens Securities Broker Failed To Disclose The Risks?
Broker-Dealer Is Sued Again Over Colorado Bankers Life Insurance Losses
If you are a Colorado Bankers Life Insurance annuity investor who worked with a Citizens Securities financial advisor, please contact Shepherd Smith Edwards and Kantas (investorlawyers.com) today. Already, we have filed a number of annuity fraud lawsuits against the firm, as well as other broker-dealers, over the sale of annuity policies from this insurer to investors.
This includes, recently, a claim by one novice Pennsylvania investor who is seeking up to $500K in damages. The claimant, who had depended on his Citizens Securities broker Teyonna Harris to place his savings in safe and secure assets, contends that the firm went on to recommend Colorado Bankers Life Insurance while allegedly misrepresenting CB Life Annuity as low-risk and suitable for him. In fact, this was a high-risk investment that was not as highly rated as similar investments in its class. Not only that but also Colorado Bankers Life Insurance is owned by Greg Lindberg, who has long been suspected of funneling money from his insurers to his other companies. He is currently facing criminal and regulatory charges accusing him of fraud, including defrauding thousands of policyholders in an alleged $2B scam.
In his Colorado Bankers Life Insurance loss lawsuit against Citizens Securities, this investor is alleging misrepresentations and omissions, unsuitability, overconcentration, negligence, breach of fiduciary duty, and more. Not only that, but this claimant was never notified that Lindberg was indicted in 2019.
Why Should You Talk To One of Our Trusted Annuity Loss Lawyers?
To date, our annuity fraud law firm has filed more than 100 investment loss lawsuits against many of the brokerage firms that sold Lindberg-issued annuities to US investors and international investors in the following insurance companies:
Colorado Bankers Life Insurance
Bankers Life Insurance
Southland Reinsurance Company
Southland National Insurance
Northstar Financial Services (Bermuda)
PB Investment Holdings
While rehabilitation or liquidation is at play for these insurers, these legal proceedings may not give investors back much, if anything at all, for their losses. It could be years before the outcomes of these proceedings are clear. As Shepherd Smith Edwards and Kantas Senior Partner and CB Life Annuity investor loss attorney Kirk Smith discussed in a recent Wall Street Journal article, Colorado Bankers Life Insurance policyholders should seriously consider exploring their legal options.
Thousands of investors, including retirees, have spent the last years with their assets frozen in Colorado Bankers Life Insurance. Should we determine that you have grounds for a broker fraud lawsuit, and we agree to work together, our savvy annuity loss lawyers have the knowledge, resources, and manpower to sue your broker-dealer and fight for your financial recovery. This is not the kind of legal claim that you should pursue without seasoned securities representation. We strongly advise against trying to resolve your allegations directly with your broker-dealer.
Most brokerage firms will try to deny your claim and will not willingly pay you damages. Over the years, our broker fraud law firm has helped thousands of investors collectively recover many millions of dollars in arbitration, mediation, and litigation.
How To Contact Our Annuity Loss Attorney Team:
Call (800) 259-9010 today or contact us online to request your free, no-obligation case consultation.