Even With The Liquidation of Colorado Bankers Life Insurance Cleared To Move Forward, Investors’ Best Bet For Financial Recovery Remains Exploring Their Legal Options. Our CB Life Annuity Loss Attorneys Continue To File Claims Against Broker-Dealers
The North Carolina Supreme Court has cleared the way for the liquidation proceedings of Colorado Bankers Life Insurance and Bankers Life Insurance. Both are owned by convicted fraudster Greg Lindberg.
Delays to the insurers’ liquidation proceedings left many thousands of investors with their money frozen over the last few years. However, just because the remaining issues that were roadblocks have been dismissed, this doesn’t mean that both entities can pay investors what they are owed. Not only that but Lindberg is awaiting another criminal trial accusing him of defrauding annuity holders of $2B. He also owes hundreds of millions of dollars in legal judgments.
What investors can do, however, is explore their legal options and determine whether the broker-dealer that marketed and sold them a Lindberg-issued annuity, including CB Life annuities, can and should be held liable for selling them such a troubled investment.
Shepherd Smith Edwards and Kantas CB Life Annuity Loss Attorneys (investorlawyers.com) are representing more than 100 annuity investors in FINRA arbitration against brokerage firms that unsuitably recommended a CB Life annuity, a Northstar Financial Services (Bermuda) annuity, a PB Investment Holdings annuity, or other investments from a Lindberg-owned insurer. The North Carolina billionaire has long been suspected of funneling money from his insurance companies to his special-purpose vehicles. If only financial advisors had conducted the proper due diligence, they would have noticed the red flags everywhere indicating there was trouble. They may have even gotten investors out before it was too late.
Among the allegations we have brought against brokers in these FINRA lawsuits we are representing: are misrepresentation and omissions, due diligence failures, breach of fiduciary duty, concentration, failure to supervise, negligence, gross negligence, and more. Unfortunately, it appears that the high commissions and fees that financial advisors stood to earn compelled many brokers to purportedly ignore investors’ best interests when they marketed and sold these annuities to customers.
Contact Our CB Life Annuity Loss Attorneys Today
The first step is to schedule your free, initial no no-obligation case assessment. If we determine that broker misconduct or negligence was involved, and we decide to work together, know that you will receive seasoned securities representation and personalized attention.
As part of our unit of annuity fraud lawsuits, you will be represented by not just one of our attorneys but by everyone at the firm. Your claim will be avail of all of the resources we are harnessing to hold brokers liable.
This is not the type of lawsuit that you want to pursue without savvy securities attorneys by your side. By this point, we are well-versed in why these annuities have caused so many investors, including many retirees and seniors, huge losses. We also know what type of broker misconduct occurred.
Last year, Shepherd Smith Edwards and Kantas Senior Partner and annuity loss attorney Kirk Smith were quoted in The Wall Street Journal encouraging investors to look at all of their legal options.
In the US, call: (800) 259-9010
Internationally, via WhatsApp (text only): (713) 227-2400
You can also reach our CB Life Annuity Loss Attorneys online by filling out this form.