Category Archives: Misrepresentation

Losses on EV Energy Partners ? You May be Entitled to Damages.

April 2, 2018

Houston based EV Energy Partners, L P (EVEP) , an oil and gas master limited partnership (MLP) has filed for Chapter 11 bankruptcy protection.

According to a press release EVEP listed between $50-$100 million in assets and liabilities between $500 million and $1 billion. EVEP has oil & gas properties in the Barnett Shale, San Juan Basin, Appalachian Basin, Permian Basin and Karnes County, Texas.

If the broker who recommended an investment in  EV Energy Partners misrepresented the risks associated with the investment  or if the broker did not have reasonable basis to make such a recommendation, losses may be recoverable from the firm employing the broker. Call for a no charge consultation to discuss your options.

Chart of EV Energy Partners

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.

Nationwide Representation

Rex Securities Law

TollFree: 877-224-3199

Florida-561 391 1900 

Texas-512-329-2870

Losses on an Investment in The Parking REIT ?

March 2018

The Parking REIT, Inc. , a Maryland real estate investment trust announced suspension of cash distributions and stock dividends on March 23, 2018.

According to a press release issued by the company, the board is focused on preserving capital in order to maintain sufficient liquidity to continue to operate the business and maintain ability to service debt.

The Parking REIT (formerly MVP REIT II) is an unlisted, publicly traded REIT that invests primarily in parking lots and garages in the U.S. Assets include 44 parking facilities in 15 states.

Unlisted REITs are not traded on a national exchange and therefore are difficult, and sometimes impossible, to sell should an investor need liquidity.

Many investors were sold REITs with the promise of a steady and dependable income stream and now are faced with a reduction of income. For retirees on fixed income, this can present serious financial issues.

If the broker who recommended an investment in The Parking REIT misrepresented the risks associated with it or if the broker did not have reasonable basis to make such a recommendation, losses may be recoverable from the firm employing the broker. Call for a no charge consultation 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.

Nationwide Representation

Rex Securities Law

TollFree: 877-224-3199

Florida-561 391 1900 

Texas-512-329-2870

William M. Robertson-Former First Allied Securities Broker-Subject of $22M Customer Dispute-Deer Park, TX

April 2018- Deer Park, Texas

According to FINRA records,  William M. Robertson , a currently unregistered broker who last worked for First Allied Securities, discloses a currently pending dispute in which a customer seeks damages of $22 million.

The Financial Industry Regulatory Authority (FINRA) is the agency that licenses and regulates stockbrokers and brokerage firms. FINRA requires brokers and brokerage firms to report customer complaints and disputes as well as regulatory sanctions. In addition brokers are required to disclose certain financial matters such as personal bankruptcies, judgments and liens.

 In January 2018 a customer of First Allied Securities and First Allied Advisory Services alleged that from 2008-2014, Robertson recommended unsuitable investments and failed to disclose risk associated with investment recommendations. Claims include breach of fiduciary duty, misrepresentations and failure to supervise. Damages are alleged to be $22 million. 

According to Robertson’s FINRA record, in 5/2010, a customer of First Allied Securities was paid $110,000 to resolve allegations that their account had been churned, was traded without authority, and had improper use of margin borrowing. FINRA Case #09-3968.

Robertson was registered with First Allied Securities from 10/2000-12/2016. He discloses business affiliations with Robertson Wealth Management, Advanced Financial Services, and was host of the Straight Talk Money radio show.

If you have questions about an account handled by William M. Robertson,  contact us for a no charge consultation to discuss your options and to learn how you may be able to recover damages for account losses through FINRA arbitration.

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.

Nationwide Representation

Rex Securities Law

TollFree: 877-224-3199

Florida-561 391 1900 

Texas-512-329-2870

Greg Smith/Pastor Kirbyjon Caldwell Indicted On Chinese Bond Scam-Shreveport,LA-Houston,TX

April 2018-Shreveport, LA

Shreveport resident Gregory Alan Smith, 55, and Kirbyjon H. Caldwell, 64, of Houston, TX, were indicted by a federal grand jury in a 13 count indictment for allegedly bilking unsuspecting investors out of over a million dollars.

Smith is operator of Smith Financial Group at 7330 Fern Ave., in Shreveport and Caldwell is Senior Pastor of Windsor Village United Methodist Church in Houston. The church is reportedly one of the largest Protestant churches in the U.S. According to Click2Houston Pastor Caldwell gained national notoriety when President George W. Bush made him his spiritual advisor.

Investors were lured to invest in allegedly worthless Historical Chinese bonds issued by the former Republic of China prior to losing power in 1949 and are not recognized by China’s current government.

According to FINRA records, Gregory A. Smith was a licensed broker who worked for New England Securities from 12/1999-7/2010. Smith was discharged by New England Securities in 7/2010 for failing to follow company policy with respect to outside business activities. In 2012, FINRA permanently barred Smith from associating with any FINRA member in any capacity, in part for commingling investor funds in his business account and for misappropriating investor funds.

The Financial Industry Regulatory Authority (FINRA) is the agency that licenses and regulates stockbrokers and brokerage firms. FINRA requires brokers and brokerage firms to report customer complaints and disputes as well as regulatory sanctions. In addition brokers are required to disclose certain financial matters such as personal bankruptcies, judgments and liens.

Smith and Caldwell are charged with  wire fraud and money laundering and face decades in prison if convicted.

SEC complaint vs. Gregory A. Smith and Kirbyjon Caldwell.

If you are a victim of this apparent scam, call for a no charge consultation 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.

Nationwide Representation

Rex Securities Law

TollFree: 877-224-3199

Florida-561 391 1900 

Texas-512-329-2870