Elderly Investor Files REIT Loss Lawsuit Against Sanctuary Securities. Our Broker Fraud Lawyer Are Representing This Widow Who Is Seeking Up To $500K In Damages
An elderly retiree is suing Sanctuary Securities (AKA David A. Noyes & Co.) for losses she sustained in risky investments, including real estate investment trusts (REITs). Shepherd Smith Edwards and Kantas Broker Fraud Lawyer Team (investorlawyers.com) is representing this senior investor in her Financial Industry Regulatory Authority (FINRA) arbitration lawsuit. She is requesting up to $500K in damages.
The claimant, who is in her 90s, contends that former David A. Noyes broker Kevin Michael McDougall allegedly sold her unsuitable investment recommendations that were too risky given her age, investing experience, and conservative risk tolerance level. McDougall also purportedly misrepresented the products he recommended as low-risk safe when, in fact, they were high-risk, unproven, and illiquid investments.
The Indianapolis, Indiana financial advisor also is accused of concentrating this retiree’s account with too many alternative investments. McDougall is now a Thurston Springer Financial broker and investment adviser.
In her investor lawsuit, the claimant is also alleging breach of contract, improper supervision by broker-dealer David Noyes, breach of fiduciary duty, vicarious liability, negligence, gross negligence, and more.
Are You An REIT Investor Who Suffered REIT Losses?
Privately-traded products tend to pay brokers high commissions than more traditional investments. These kinds of products should only be offered to accredited investors that have the experience to understand the kinds of risks they are taking on and who have assets that can weather such risks. With limited disclosures regarding finances or value, it can be hard for even financial advisors to fully understand a particular REIT let alone make sure the customer has a full grasp of what they are buying into.
Our REIT and non-traded REIT loss lawyers represent retail investors, retirees, accredited investors, and high-net-worth investors in pursuing the damages they are owed by financial advisors who unsuitably recommended these real estate investments, failed to conduct the proper due diligence, breached their fiduciary duty to a customer, or were negligent or fraudulent in other ways.
We know how to go after broker-dealers and investment advisers and hold them liable for the harm an investor has suffered. We have worked with clients in FINRA arbitration, mediation, and litigation. More than 90% of our investors have secured full or partial financial recovery with our help.
When you work with us, know that you will be working with a knowledgeable securities firm that has been fighting for investors for more than 30 years. Our law practice is fully dedicated to representing the victims of broker misconduct and negligence.
How To Contact Our Broker Fraud Lawyer Team
Call (800) 259-9010 or fill out this form.