Rex Securities Law has been investigating VSR Financial broker Dennis Van Patter and on April 22, 2014, filed a FINRA arbitration against VSR Financial on behalf of one of Van Patter’s former clients. The arbitration is on behalf of a widow who received insurance proceeds of about $750,000 following her husband’s death and was sold a large number of unsuitable investments including the following alternative investments:
- Atlas Energy
- Public 17-2008B
- Atlas Energy Public 18 2009B
- Boston Capital Series 44
- Boston Capital Series 47
- CNL Lifestyle Fund
- Cole Credit Property Trust II
- Cypress Equipment Fund 15
- Inland American Real Estate Trust
- KBS Real Estate Investment Trust Inc.
- MPF Income Fund 25
- Penneco Oil Company 2008-1
The arbitration alleges that the investment strategy was unsuitable and that Van Patter’s employer, VSR Financial Services was negligent in the supervision of their registered representative Dennis Van Patter and breached their fiduciary duty to their customer. Van Patter operates his financial business through First Financial Services Group in Plano, TX.
VSR Financial was fined $550,000 in 2013 by FINRA in connection with the sale of private placements and alternative investments. See this for more information.
Investors with losses in accounts handled by Dennis Van Patter may be able to recover damages from VSR Financial Services. Call to discuss your options.
Rex Securities Law , with offices in Boca Raton, FL, and Austin, TX, provides representation to investors nationwide who are seeking recovery of investment losses due to the negligence or fraud of stockbrokers and broker dealers. If you have questions about how your account has been handled, call to speak with an experienced securities attorney.
Most cases handled on a contingent fee basis meaning that you do not pay legal fees unless we are successful.
Florida-561 391 1900