Claimant alleges that the branch manager failed to supervise the FA from April 2012 through September 2019 that recommended annuities that were unsuitable.

$5,800,000.00

The annuities at issue were not supervised by me. I deny the allegations regarding supervision. The firm settled this matter without my involvement, and I was not asked to nor did I contribute any funds to the settlement.

Plaintiffs are Estate beneficiaries and together allege that several registered representatives breached their fiduciary duties to a former customer and his late wife by mismanaging their assets, permitting a third-party to transfer assets from their accounts, and executing transactions in their accounts that were not within the designated financial, investment, and estate planning objectives.

Wells Fargo's cross-motion for summary judgment is granted and all claims were dismissed.

CLIENTS ALLEGE THAT THEY WERE UNAWARE THAT ALL GAINS ABOVE THE COST BASIS WOULD BE TAXED AS ORDINARY INCOME, NOT CAPITAL GAINS. THEY ALSO ALLEGE THAT IF THESE CRITICAL TAX IMPLICATIONS WERE EXPLAINED, THEY NEVER WOULD HAVE PURCHASED ANNUITY. DAMAGES ARE ESTIMATED TO BE ABOVE $5,000.(2007)

ALL PROPER DOCUMENTATION WAS USED IN THE SALE. THEIR CPA WAS AT THE MEETING AND ALL IMPLICATIONS OF THE INVESTMENT WERE REVIEWED AT LENGTH. IN FACT, AFTER THE MEETING, THE CLIENT'S INVITED ME OUT TO DINNER WITH THEM. THIS ACT APPEARS TO BE OUT OF SHEER ANGER OVER THE REJECTION BY WACHOVIA WITH REGARD TO A REAL ESTATE LOAN.