Soreide Law Group is looking into possible investor claims against securities broker Jake Louis Fruge (CRD: 6187396, Houston, Texas). Specifically, Financial Industry Regulatory Authority (FINRA) BrokerCheck discloses that investors disputed the sales practices of the securities broker, who worked for PFS Investments Inc. Evidently, investors allege sales practice violations in these disputes, including that Fruge made unsuitable recommendations. Here is a brief summary of the disclosures about Fruge.
Specifically, a PFS Investments Inc. client filed a complaint about Jake Fruge. Namely, the client alleged that Fruge gave unsuitable advice. Because of this, the client allegedly sustained damages on variable annuities. Therefore, on June 5, 2020, PFS Investments Inc. settled this matter by paying the client $13,648.25 in damages.
Also, a client of PFS Investments Inc. contested Jake Fruge’s sales practices, according to a complaint. Allegedly, Fruge possibly caused the client to invest too much money in a variable annuity, resulting in a liquidity issue. Supposedly, Fruge possibly caused the client to sustain damages on fixed annuities and mutual funds. Therefore, PFS Investments Inc. opted to settle the matter on December 27, 2019, by compensating the client in the amount of $4,733.29.
Did you suffer damages because of Jake Fruge? If so, you can contact Soreide Law Group at (888) 760-6552 and speak with a securities attorney about a possible recovery of your investment losses. Soreide Law Group, who has successfully recovered money for hundreds of investors across the United States, represents clients on a contingency fee basis and will advance all costs. Please keep in mind that Fruge and brokerage firms Fruge worked for deny any and all allegations of sales practice violations.
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