Investors might have sustained losses due to Michael Perron Shoemaker [CRD: 5836113, Atlanta, Georgia]. Evidently, Michael Shoemaker joined Bankers Life Securities Inc. on May 26, 2016. Below, readers can learn more about the disclosures surrounding Shoemaker's conduct and the implications for those affected.
Particularly, on September 9, 2021, a Bankers Life Securities Inc. client filed a complaint about Michael Shoemaker. Supposedly, Shoemaker made unsuitable recommendations to the client to purchase equity-indexed annuities from Bankers Life and Casualty Company. Furthermore, Shoemaker allegedly failed to disclose to the client the surrender penalties. He supposedly told her she would have access to her funds too. Because of this, the client allegedly sustained damages. Therefore, the client requested $74,526 in compensation from Bankers Life Securities Inc. or Shoemaker. The securities firm denied this complaint.
Also, a client of Bankers Life Securities Inc. contested Michael Shoemaker’s sales practices, according to a complaint dated June 12, 2019. Allegedly, Shoemaker failed to disclose penalties for accessing money before a surrender period expired. So, the client sought compensation from Bankers Life Securities Inc. or Shoemaker in the amount of $49,860. The firm denied the complaint.
Additionally, a client filed a complaint about Michael Shoemaker. Supposedly, Shoemaker misrepresented a variable annuity product after she told the representative she did not want to participate in the market. The client also alleged that she was unaware of the surrender charge on the product. As a result, on December 22, 2016, ProEquities Inc. settled this matter by compensating the customer.
In addition, a client of ProEquities Inc. contested Michael Shoemaker’s sales practices, according to a complaint dated May 1, 2014. Allegedly, Shoemaker misrepresented a variable annuity product. Therefore, the client sought compensation from ProEquities Inc. or Shoemaker. This complaint was denied.
Did you experience losses because of Michael Shoemaker? 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 many clients in the US, works on a contingency fee basis, and advances all costs. Shoemaker and brokerage firms he worked for deny accusations of sales practice violations.
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