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For Northstar Financial Service (Bermuda) Investors, Suing Their Broker-Dealer Remains The Best Avenue for Financial Recovery
Bermuda Supreme Court’s Latest Ruling Doesn’t Bring Annuity Holders Any Closer To Getting Their Money Back
Since 2020, Shepherd Smith Edwards and Kantas the FINRA Lawsuit Attorney team have been representing investors that suffered losses after their broker-dealer marketed and sold them Northstar Financial Services (Bermuda) annuities. These investors are foreign nationals, including retirees, who looked to the US as a safe haven for their assets. Instead, their financial advisors allegedly unsuitably invested their funds in these risky, little-protected offshore annuities while promising that their money would be secure.
This proved far from the truth when Northstar (Bermuda) filed for bankruptcy nearly three years ago and went into liquidation. Investors have since been struggling to recoup their losses from this now-defunct entity that is in serious debt and owned by billionaire Greg Lindberg. He is accused of defrauding annuity holders and is facing two criminal fraud trials after already serving time in prison.
The latest ruling by the Bermuda Supreme Court in Northstar Financial Services’ (Bermuda)’s liquidation proceedings has done nothing to shed any light on when or if the insurance company would be paying investors back. While the Court determined that Northstar (Bermuda) variable accounts were officially segregated and fixed accounts were not, such findings do not move investors’ loss claims forward.
Who knows how long liquidation proceedings will take place or, if, at the end of it, variable annuity investors or fixed annuity investors will get much, if anything, back at all. This is why it is so important that you speak with our skilled Northstar (Bermuda) loss lawyers. We can help you determine whether you should sue the brokerage firm that marketed and sold you these offshore annuities.
Already, FINRA Lawsuit Attorney teams from Shepherd Smith Edwards and Kantas have filed over 100 FINRA lawsuits on behalf of investors who suffered losses in a Lindberg-issued annuity, including those from Northstar (Bermuda), PB Investment Holdings, Colorado Bankers Life Insurance, Bankers Life Insurance, and his other insurers. All of those who lost money in Northstar Financial Services (Bermuda) are non-US citizens from Latin America or Asia. Many of them sustained investment losses of at least six figures. They claim they were never apprised of the criminal indictment issued against Lindberg in 2019. Instead, brokers continued to keep investors’ funds in this offshore company while earning high commissions and fees.
Why We Are the Northstar (Bermuda) Investment Loss FINRA Lawsuit Attorney
Should we decide to work together, you will be retaining our securities lawyers that are already highly knowledgeable about how these investments failed and why brokerage firms should be held liable. The majority of our Northstar Financial Services (Bermuda) lawsuits are seeking restitution for allegedly unsuitable investment recommendations, misrepresentations and omissions, overconcentration, due diligence failures, supervisory deficiencies, and much more.
When you work with us, you become part of our unit of Northstar (Bermuda) claims behind which we will harness our firm’s manpower and resources to fight for you. The legal teams for the broker-dealers we are suing know who we are and that they will have to contend with us as investors’ lawyers for the long haul. Because of the solid reputation we’ve built over the years, opposing counsel knows we are zealous about advocating for our clients and that we will protect their right to financial recovery.
How To Contact our FINRA Lawsuit Attorney Team:
In the US: (800) 259-9010
International via WhatsApp (text only): 713-227-2400
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