Soreide Law Group has filed a FINRA arbitration on behalf of our client (Claimant) against:
FORTA FINANCIAL GROUP, INC. (Respondent)
The Claimant maintained accounts with FORTA FINANCIAL GROUP and brings this lawsuit to recover alleged losses caused by the Respondent and its registered representative, Gregory Williams. Gregory Williams is not named in this lawsuit.
According to the lawsuit, FORTA FINANCIAL GROUP and Gregory Williams allegedly understood that the Claimant did not want to take on any unnecessary risks with his savings. The Claimant maintained a conservative risk tolerance in his accounts. According to the lawsuit, FORTA FINANCIAL GROUP and Gregory Williams engaged in an investment strategy which allegedly caused the Claimant to lose his retirement savings that cannot be replaced.
According to the lawsuit, the Claimant’s portfolio contained investments in speculative MLPs, REITs, BDC’s and junk bonds. As a result, the Claimant has suffered alleged damages of $99,000.
The lawsuit claims are: negligence, breach of fiduciary duty, negligent supervision, breach of contract, and violation of FINRA rules.
According to FINRA’s BrokerCheck, GREGORY JON WILLIAMS (GREG WILLIAMS), has been in the securities industry for 30 years. Williams has 5 disclosures on his FINRA CRD report, all are “Customer Disputes.” Of the 6 disputes: 2 have settled, 1 was denied, and 2 are pending. In 2009, a dispute settled for $25,000.00 following allegations of, “Claimant alleges, inter alia, that beginning in October of 2005 the financial advisor made an excessive amount of unauthorized and unsuitable trades in her account.” In 2019, there was a dispute settled with damages awarded in the amount of $45,818.00, following allegations in part of, “unsuitability, misrepresentation, negligence, fraud, breach of fiduciary duty and failure to supervise between April 2011 and December 2017.” The two pending customer disputes are requesting damages of $500,000.00 and $1,200,000.00 with allegations in part of, unauthorized trading, unsuitability, fraud, and misrepresentation.
According to FINRA’s BrokerCheck, he has been listed with 6 firms and Gregory Williams is currently with the following firm since 4/20/2011:
FORTA FINANCIAL GROUP, INC.
5445 DTC PARKWAY SUITE 1100
GREENWOOD VILLAGE, CO 80111
If you’ve suffered losses due to the actions or recommendations of FORTA FINANCIAL GROUP and/or their registered representative, Gregory Williams, contact Soreide Law Group and speak to an experienced securities lawyer at no cost regarding the possible recovery of your investment losses through a FINRA arbitration at: 888-760-6552.
Soreide Law Group works on a contingency fee basis and represents our clients nationwide before FINRA.