Christopher Miller (CRD 4044818) has a customer dispute on BrokerCheck that settled on October 7, 2026 for $50,901. The disclosure lists Emerson Equity as the firm.
Soreide Law Group has filed a FINRA arbitration on behalf of our client (Claimant) against:
LPL FINANCIAL LLC (Respondent).
According to the lawsuit, the Claimant was solicited by the Respondent’s Financial Advisor, MARIO BRIAN BARONE (MARIO B BARONE), to invest in a speculative non-traded REIT now known as Pacific Oak Strategy Opportunity REIT.
The lawsuit alleges, MARIO B BARONE recommended the Claimant reinvest dividends, and make additional purchases over time into the REIT. When the Claimant expressed concerns regarding the investment’s decline, the Claimant was allegedly told to hold and not to worry. The lawsuit alleges that MARIO B BARONE reassured the Claimant that the investment was still secure and would be profitable when it went public.
The lawsuit states that in late 2025, the REIT announced it was struggling to pay back debt, and in early 2026, the REIT failed, leaving the Claimant with a loss of $100,000.00. The Respondent’s actions in this case constitute, Breach of Fiduciary Duty, Violation of FINRA Rules, Breach of Contract, Negligence, Negligent Supervision and Fraud. MARIO B BARONE is not named in this lawsuit.
The definition of a REIT or Real Estate Investment Trust is a company that owns, operates, or finances income-generating real estate and sells shares to raise capital to do so. According to FINRA, all REITs come with fees and expenses, as well as risks, including the risk that your investment could lose some or all its value. FINRA states that other REIT risks vary depending on the type of REIT you own. Publicly traded REITs tend to be more liquid but also more prone to price volatility. Non‑traded REIT shares do not trade on a public exchange, making them illiquid. Also, changes to interest rates, property values and the economy may affect the returns of REIT investments. FINRA warns of the lack of liquidity, high fees, and the possibility of principal loss.
According to FINRA’s BrokerCheck, available to the public on FINRA’s website, MARIO B BARONE has been registered both as a broker and as an investment advisor with LPL FINANCIAL LLC of McKinney, Texas, since November of 2009. Barone has been in the securities industry for 33 years and has been listed with 6 firms.
To discuss this article or any other securities issues, contact Soreide Law Group and speak to an experienced securities lawyer at no cost: 888-760-6552.
Soreide Law Group represents our clients nationwide before FINRA on a contingency fee basis, no fee if no recovery,
Christopher Miller (CRD 4044818) has a customer dispute on BrokerCheck that settled on October 7, 2026 for $50,901. The disclosure lists Emerson Equity as the firm.
A customer dispute that settled for $80,000 on July 16, 2026 is the newest entry on the BrokerCheck report of Stephen Kerutis (CRD 2345517). The clients in that matter alleged unsuitable recommendations, and Truist Investment Services is the firm on the disclosure.
Steven Graham (CRD 1977736) denies the allegations in a pending customer claim filed on August 11, 2026. The disclosure names Western International Securities as the firm, and the claim involves corporate bonds. No arbitrator has ruled on it. His BrokerCheck report also lists a settled bond dispute and a federal court matter from earlier years.
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