In a January 22, 2014, article in InvestmentNews, entitled, "Schorsch's pickup of J.P. Turner: "Such a bargain!" by Bruce Kelly, Securities Attorney, Lars Soreide, is quoted in the article referencing the claims his clients have had against JP Turner.
The following is a passage directly from the article:
"A review of J.P. Turner's roster of about 370 registered reps and advisers reveals that scads once worked at GunnAllen Financial Inc., a notorious independent broker-dealer that collapsed in 2010 under the crushing weight of paying to fight investor complaints involving a rogue broker, Frank Bluestein, and $40 million in sales of a fraudulent private placement, Provident Royalties.
“I have brought at least a half-dozen investor claims against J.P. Turner since the crash,” said plaintiff's attorney Lars Soreide. Those claims have been based on allegations that a J.P. Turner broker used excessive margin in a client's account or churning an account, he said.
In one current Finra arbitration claim, the J.P. Turner broker lost $180,000 by trading stocks in the account of a woman in her 70s, while charging commissions of $170,000, Mr. Soreide said. “There's just a lot of claims out there where [fusion_builder_container hundred_percent="yes" overflow="visible"][fusion_builder_row][fusion_builder_column type="1_1" background_position="left top" background_color="" border_size="" border_color="" border_style="solid" spacing="yes" background_image="" background_repeat="no-repeat" padding="" margin_top="0px" margin_bottom="0px" class="" id="" animation_type="" animation_speed="0.3" animation_direction="left" hide_on_mobile="no" center_content="no" min_height="none"][J.P. Turner reps] are doing this to a lot of people,” he said."
The article may be read in it's entirety at:
http://www.investmentnews.com/article/20140122/FREE/140129963
If you were a client of JP Turner and suffered significant losses, call for a free consultation on how to potentially recover those losses. To speak with Lars Soreide, an experienced attorney in this matter, call: 888-760-6552.
Soreide Law Group, PLLC., representing investors nationwide before FINRA the Financial Industry Regulatory Authority.
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