PHILADELPHIA, PA, USA, February 14, 2024 /EINPresswire.com/ — National investment loss attorneys KlaymanToskes reports the firm has filed a case seeking to recover up to $500,000 in investment losses on behalf of a retired Philadelphia police officer who is a customer of financial advisor Austin Richard Dutton Jr. (CRD# 2739167). Customers of Austin Dutton and/or Andrew Dutton who suffered investment losses at American Trust Investment Services or Newbridge Securities are encouraged to contact KlaymanToskes immediately at 888-997-9956.
KlaymanToskes is currently representing many customers of Austin Dutton, including several retired Philadelphia police officers who suffered losses at American Trust Investment Services and Newbridge Securities in Philadelphia, PA.
KlaymanToskes reports the firm has filed a FINRA arbitration claim (no. 24-00326) against American Trust Investment Services and Newbridge Securities on behalf of a retired Philadelphia police detective who is seeking to recover damages of up to $500,000, in connection with being recommended to invest in high-risk and speculative Alternative Investments, including GWG L Bonds.
According to the claim, the customer was first introduced to Austin Dutton when he came to the police station to make a presentation to fellow officers. While the customer sought low-risk investments that would provide income without risking his retirement savings, Dutton recommended a portfolio of unsuitable investments made up mostly of Alternative Investments.
Dutton failed to explain the lack of liquidity and lack of diversification involved in the Alternative Investments, and falsely represented that at the end of 5 years, the customer would receive all of his principal back. Today, the customer remains concerned about supporting himself throughout his retirement years due to no longer having access to his principal investment.
On June 8, 2022, Austin Dutton Jr. failed to respond to a request from FINRA and his license as a broker was suspended. Thereafter, in July 2023, Dutton was indefinitely suspended after he failed to pay an arbitration award where he was found liable for the sale of unsuitable alternative investments. Following his departure from the industry, Austin’s son Andrew Dutton took over the customers’ accounts.
Customers of Austin Dutton Jr. who suffered investment losses are encouraged to contact attorney Steven Toskes, Esq. at (888) 997-9956 or lawrence@klaymantoskes.com for a free and confidential consultation to discuss legal options. We do not collect attorney’s fees unless we are able to obtain a financial recovery for you.
About KlaymanToskes
KlaymanToskes is a leading national securities law firm which practices exclusively in the field of securities arbitration on behalf of retail and institutional investors throughout the world in large and complex securities matters. The firm has recovered over $250 million in FINRA arbitrations and over $350 million in other securities litigation matters. KlaymanToskes has office locations in California, Florida, New York, and Puerto Rico.
Contact
Lawrence L. Klayman, Esq.
KlaymanToskes, P.A.
+1 888-997-9956
lawrence@klaymantoskes.com