Case is currently facing two customer disputes alleging concerns over alternative investments.
The Sonn Law Group is investigating allegations that Steven Case committed misconduct. If you or a family member has suffered losses investing, we want to discuss your case. Please contact us today for a free review of your case.
Steven Case (CRD#: 1935087) has been employed by LPL Financial since May 2019. He was previously registered with FSC Securities Corp. from March 2017 to May 2019. Prior to that, he was registered with National Planning Corp. from January 2004 until March 2017.
In May 2019 Case was named in a customer dispute. The customer alleged poor recommendation in the purchase of three alternative investment products. In his response, Case denied wrongdoing and stated that all information about the products sold (REITs) was fully disclosed. This matter is still pending.
Case was also named in a customer complaint in October 2012. There, the customer alleged unsuitable investments on REITs. This matter was settled for $20,000.
Alternative Investments can include direct participation products (DPPs) like non-traded real estate investment trusts (REITs), oil and gas programs, annuities, and equipment leasing programs. These types of investments are typically not profitable for investors and are almost always unsuitable based on their high fees and cost structure. Brokers selling these products are paid commissions to sell these particular investments, creating an incentive to sell unsuitable products to unsuspecting investors.
These types of alternative investment products have become so popular among brokers without providing any benefit to investors that many states now limit investors from investing more than 10% of their liquid assets in Non-Traded REITs and BDCs.
Many states impose these limitations because no rational person can come up with an argument to support the continued sale of these products. Unfortunately for investors, there is no regulatory authority in the United States with the ability to analyze investments in order to ban flawed investment products.
Contact Us Today
The Sonn Law Group is currently investigating allegations that brokers recommended unsuitable investments. We represent investors in claims against negligent brokers and brokerage firms. If you or your loved one experienced investment losses, we are here to help. For a free consultation, please call us now at 866-827-3202 or complete our contact form.