Soreide Law Group Files FINRA Arbitration on Behalf of Client Against, HERBERT J. SIMS & CO.

Soreide Law Group, based in Pompano Beach, Florida, has filed a FINRA arbitration on behalf of their client (Claimant) against the firm:
HERBERT J. SIMS & CO., INC. (Respondent)
The Claimant, who resides in Boca Raton, Florida, maintained investment accounts with HERBERT J. SIMS & CO., INC. The lawsuit alleges that the Claimant received investment recommendations from the Respondent’s registered representative, John Moran, who is not named in this lawsuit.
John Moran, who was acting as the Financial Advisor to the Claimant, allegedly understood that the Claimant did not want to take unnecessary risks with his financial investments. The lawsuit alleges that John Moran recommended the Claimant invest in a portfolio which was largely comprised of junk bonds and structured products/structured notes.
The lawsuit alleges that HERBERT J. SIMS & CO., INC. and John Moran advised the Claimant that the investment recommendations were safe and secure. However, the Claimant’s portfolio was subject to substantial risks.
As a result of Respondent’s alleged misconduct, the lawsuit alleges that the Claimant has suffered damages of approximately $150,000 during a time when the markets have enjoyed record returns.
The lawsuit alleges that the Respondent’s actions in this case constitute: breach of fiduciary duty, negligence, breach of contract, fraud, misrepresentation, failure to supervise, negligent hiring, and violations of the conduct rules of the Financial Industry Regulatory Authority.
If you were a client of HERBERT J. SIMS & CO., INC. and/or their financial advisors, and experienced losses due to their actions or recommendations, contact Soreide Law Group, based in Pompano Beach, Florida, for a no cost consultation with an experienced securities lawyer regarding the possible recovery of your investment losses through a FINRA arbitration at:  888-760-6552.
Soreide Law Group represents our clients nationwide before FINRA.  We operate on a contingency fee basis—no fee if no recovery.  Let our experience work for you.