November 18, 2023

Nationwide Clients Complain About Jose Padilla

a family is sad because of bad broker advice

Soreide Law Group is actively investigating potential claims on behalf of investors who may have suffered losses with securities broker Jose Manuel Candelario Padilla [CRD#: 4847560, Puerto Rico]. Evidently, Padilla worked for Nationwide Planning Associates Inc. from 2016 to September 2023. Allegations against Padilla, as reported in various FINRA Arbitrations, include breaches of fiduciary duty and contract, contractual negligence, alongside failures to supervise and control, which have purportedly resulted in financial losses to investors.

Nationwide Planning Associates Inc. Investor Accused Padilla Of Negligence

Particularly, on October 20, 2023, a Nationwide Planning Associates Inc. client filed FINRA Arbitration: 23-03074 about Jose Padilla. Namely, the client alleged that Padilla committed breaches of contract and fiduciary duty, failed to supervise, and was negligent. Because of this, the client allegedly sustained damages on penny stocks and other equities. Therefore, the client requested $1,500,000 in compensation from Nationwide Planning Associates Inc. or Padilla. Evidently, this arbitration is pending a resolution.

Jose Padilla Disclosed Breach Of Fiduciary Duty Allegations By Nationwide Planning Associates Inc. Client

Also, a client of Nationwide Planning Associates Inc. contested Jose Padilla’s sales practices by filing FINRA Arbitration: 23-03065 on October 23, 2023. Supposedly, Padilla breached fiduciary duties, exhibited contractual negligence, breached contract, failed to supervise, and violated the Exchange Act. It appears that Padilla caused the client to sustain damages on penny stocks. Therefore, the client seeks compensatory relief from Nationwide Planning Associates Inc. or Padilla in the amount of $500,000.

Nationwide Planning Associates Inc. Investor Accused Padilla Of Breach Of Contract

Moreover, on September 20, 2023, a Nationwide Planning Associates Inc. client filed FINRA Arbitration: 23-02526 about Jose Padilla. Supposedly, Padilla made misrepresentations and omissions, provided unsuitable investment recommendations, breached fiduciary duty and contract, failed to supervise, failed to act in the best interest of the claimants, demonstrated negligence and gross negligence, and violated federal securities laws and FINRA rules. Because of this, the client allegedly sustained damages on stocks. Therefore, the client requested $3,000,000 in compensation from Nationwide Planning Associates Inc. or Padilla. Evidently, this arbitration is pending a resolution.

Jose Padilla Disclosed Misrepresentation Allegations By Nationwide Planning Associates Inc. Client

Also, a client of Nationwide Planning Associates Inc. contested Jose Padilla’s sales practices by filing FINRA Arbitration: 23-02470 on September 12, 2023. Supposedly, Padilla made misrepresentations and omissions about equities, failed to act in the best interest of the claimants, failed to supervise, demonstrated negligence, breached fiduciary duty and contract, violated FINRA rules, provided unsuitable investment recommendations, and violated Puerto Rico Uniform Securities Act. Therefore, the client seeks compensatory relief from Nationwide Planning Associates Inc. or Padilla in the amount of $1,300,000 in this ongoing matter.

Did you experience losses because of Jose Padilla? If so, reach out to Soreide Law Group online or at (888) 760-6552 and talk with a securities attorney concerning a potential recovery of your investment losses. Soreide Law Group has recovered losses for investors throughout the United States, works on a contingency fee basis, and advances all costs. Padilla and brokerage firms he worked for deny accusations of sales practice violations.

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