Broker Mike Libmann Purportedly Misrepresented, Concealed Information
Investors are coming forward with disputes about securities broker Mike Libmann [CRD#: 1323896, Quincy, Illinois]. Evidently, Libmann, who associated with MML Investors Services until 2018, reports 4 investor disputes on Financial Industry Regulatory Authority (“FINRA”) BrokerCheck. Notably, his clients suggest that he concealed important information concerning investments that they purchased. Allegedly, the securities broker also executed unreasonable transactions causing his clients' losses. For additional information concerning the allegations against Libmann, see below.
Mike Libmann Allegedly Fails To Disclose Investment Info To Pruco Securities Client
Apparently, a client of Pruco Securities contested Mike Libmann’s actions in a complaint dated September 6, 2019. Allegedly, Libmann concealed information relating to the suitability of variable annuities and he failed to tell the client about downsides from a tax perspective. It seems that the client sustained losses because of Libmann’s omissions. Consequently, Pruco Securities figured to settle the client’s dispute on October 24, 2019 through compensating the client in the amount of $91,000.
Libmann Allegedly Fails To Disclose Facts About Premiums
Evidently, a client of MetLife contested Mike Libmann’s actions by making a complaint in 2011. Allegedly, Libmann concealed information about future required insurance premiums on a variable life insurance policy. It is possible that the client would not have purchased the insurance policy if made aware of this information. Consequently, the client made a claim for compensatory damages from MetLife or Libmann in the amount of $45,000. However, the claim was denied.
MetLife Client Suggests Mike Libmann Misrepresented Life Insurance
Notably, a second MetLife client brought an investment dispute concerning Mike Libmann. Apparently, the client asserted that Libmann misrepresented two life insurance policies. As a result, MetLife resolved this issue through compensating the client in the amount of $9,003.86. Moreover, a prior MetLife complaint specifically alleged that “Mr. Libmann misled her” in reference to the client’s purchase of variable life insurance policies.
Did Securities Broker Mike Libmann Sell You Bad Investments?
Have you experienced losses by investing with broker Mike Libmann? If you have, contact Soreide Law Group at (888) 760-6552 and speak with experienced counsel concerning a potential recovery of your investment losses. Soreide Law Group provides representation to clients on a contingency fee basis and advances costs. The law firm has recovered millions of dollars for clients who have experienced losses due to misconduct of securities firms and brokers like Mike Libmann.
