GLENDALE, CA, USA, September 20, 2023/EINPresswire.com/ — National investment loss attorneys KlaymanToskes encourages customers of Western International Securities who have suffered investment losses to contact the firm immediately at 888-997-9956.
KlaymanToskes reports the firm has filed a FINRA arbitration claim (no. 23-02533) against Western International Securities on the behalf of an elderly couple who are seeking to recover damages between $100,000 and $500,000 in connection with being recommended to invest in unsuitable alternative investments, including the following:
– GWG L Bonds (GWG Holdings, Inc.),
– FS Energy and Power,
– Franklin BSP Lending Corp.,
– Peakstone Realty Trust,
– Healthcare Trust Inc.,
– Necessity REIT,
– Hospitality Investors Trust, and others.
The customers, who are both over the age of 80, sought safe fixed income investments to help support them throughout their retirement years. As unsophisticated investors, the customers did not want to put their retirement savings at risk. Contrary to the customers’ clearly conservative investment objectives, Western International and its registered advisor, John Darmanian (CRD# 2899924), recommended many high risk, speculative Alternative Investments that lacked liquidity.
The investments recommended by Western International were represented as low risk investments that would provide dividend income, along with the return of principal plus interest at maturity. In reality, the Alternative Investments are not traded on any stock exchange and are illiquid. While the customers made several inquiries relating to the investments, they were continually advised that their investments were fine and not to worry.
As the Alternative Investments recommended were illiquid and unlisted, there were significant risks that were undisclosed to the customers. Western International and John Darmanian owed their clients various fiduciary duties, which they violated by exposing the customers to a higher level of risk than they wanted or were aware of, misrepresenting and failing to disclose material facts regarding the investments to the customers, failing to act in the best interest of the customers, and failing to conduct proper due diligence on the Alternative Investments prior to making recommendations to the customers.
Customers of Western International Securities who suffered investment losses with John Darmanian and/or any other broker/advisor, are encouraged to contact attorney Lawrence L. Klayman, 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