EFF NIMMOW Sell You Bad Investments?
Soreide Law Group is considering bringing claims on behalf of investors who incurred losses by investing with Jeff Nimmow (CRD#: 2693601, Hillside, Illinois). According to Nimmow’s Financial Industry Regulatory Authority (“FINRA”) BrokerCheck Report, at least four clients complained about his sales practices. Not only that, but Forest Securities discharged Nimmow for bad behavior on the job. These types of disclosures raise concerns about Nimmow possibly selling bad investments and failing to act in his clients’ best interest. Here’s more on the allegations against Nimmow:
Investor Files FINRA Arbitration Suggesting Forest Securities, Jeff Nimmow Violated Fiduciary Duties
Evidently, an investor named Jeff Nimmow in a FINRA Arbitration which the client brought August 31, 2018. In the Statement of Claim, the client makes allegations of the violation of Wisconsin securities laws including Wisconsin Uniform Securities Law and Deceptive Trades Practices Act. Secondly, the client claimed that Forest or Nimmow violated the client’s investment contract. Allegedly, Nimmow sold the client investments which included DPP (or LP) interests and promissory notes. Also, the client claimed that Forest or Nimmow breached a fiduciary responsibility to the client and acted irresponsibly with the client’s assets. For this reason, the client demanded $150,000 in damages in this pending matter.
FINRA Arbitration Alleges Nimmow Impermissibly Solicited Notes In Now-Bankrupt Woodbridge Group Of Companies
A Forest Securities Inc. client brought FINRA Arbitration #: 18-02037 on June 4, 2018. Supposedly, in 2017, Jeff Nimmow persuaded the client to buy Woodbridge securities. Those investments included a promissory note which Woodbridge Group of Companies issued for Woodbridge Mortgage Investment Fund 2, LLC. Allegedly, Nimmow sold the investments through Legacy Financial Group instead of Forest Securities, and without getting Forest Securities’ permission. According to the client, Nimmow never told Forest Securities that he executed the client’s Woodbridge investments. Because of the client’s losses on this Woodbridge investment, the client asked for $200,000 in compensation. Evidently, Forest Securities Inc. denies the client’s allegations in this ongoing investment dispute.
Investor Brings Lawsuit Over Jeff Nimmow’s Woodbridge Investments
One of Nimmow’s clients filed Lawsuit #: 2018cv000188 on June 5, 2018. According to this client, Jeff Nimmow solicited the client’s investments in Woodbridge. Like the other client, this client claimed that Nimmow did not sell the investments through Forest Securities, but instead, through Legacy Financial Group Inc. Allegedly, Nimmow lacked authorization to sell the client promissory notes or other direct investments. Supposedly, this client suffered $450,000 in damages because of Nimmow’s actions. Currently, this matter is unresolved.
FINRA BrokerCheck shows that Forest Securities disaffiliated with Jeff Nimmow because he supposedly made unregistered securities sales. Forest Securities also claimed that Nimmow concealed those securities sales. Moreover, Nimmow allegedly failed to make sure securities transactions were suitable for clients, according to the firm.
Suffer Losses By Investing With Jeff Nimmow?
Did Jeff Nimmow sell you unsuitable investments causing your losses? If so, contact Soreide Law Group at (888) 760-6552. You can speak with experienced legal counsel about a possible recovery of your investment losses. Soreide Law Group has recovered millions of dollars for investors who have suffered losses due to broker and brokerage firm misconduct. The firm represents clients on a contingency fee basis and advances all costs.