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CLAIMANT ALLEGES THAT FROM 2004 - 2008, SHE WAS RECOMMENDED AND SOLD TWO UNSUITABLE REITS ($200,000 IN INLAND WESTERN AND $112,000 IN KBS) AND A FIXED TERM DEFERRED ANNUITY. CLAIMANTS CAUSES OF ACTION INCLUDE MISREPRESENTATION, BREACH OF FIDUCIARY DUTY, FAILURE TO SUPERVISE AND FAILURE TO CONDUCT PROPER DUE DILIGENCE. CLAIMANT SEEKS RESCISSION OF THE REIT AND ANNUITY INVESTMENTS OF APPROXIMATELY $467,000.
Damage Amount Requested
$467,000.00
Settlement Amount
$20,000.00
Broker Comment
AMERIPRISE CHOSE TO SETTLE THIS MATTER IN ORDER TO AVOID THE COSTS ASSOCIATED WITH FINRA ARBITRATION. I WAS DISMISSED FROM THE CASE AS PART OF THE SETTLEMENT.
Disclosures can be customer complaints or arbitrations, regulatory actions, employment terminations, bankruptcy filings and certain civil or criminal proceedings that they were a part of.
Disclosures can be customer complaints or arbitrations, regulatory actions, employment terminations, bankruptcy filings and certain civil or criminal proceedings that they were a part of.