December 30, 2015
The FInancial Industry Regulatory Authority (FINRA) reports that clients of Transamerica Financial Advisors broker Bruce A. Slater filed an arbitration (Case 1H-03503) alleging that an investment in Ridgewood Energy Fund was not suitable and inconsistent with their objectives. The customers sought compensatory damages of $125,000 as well as punitive damages.
According to FINRA, Slater was dismissed and Transamerica Financial Advisors settled the case for $60,000.
Oil & Gas investments like the Ridgewood Energy Funds may not be suitable for retirees and others seeking conservative investments. If you have questions about losses in oil and gas investments, call to discuss your options for recovery.
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.
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