Norman Robbins Facing Suitability Lawsuits

Summit Brokerage Services Investors File Arbitration Claims About Securities Broker Norman Robbins

Soreide Law Group has come across concerning information in regard to securities broker Norman Arnold Robbins (CRD#: 731352, Boca Raton, Florida). Namely, six investors brought complaints or FINRA Arbitration Claims alleging sales practice violations by Robbins. It appears that recent disputes focus on Robbins’s actions at Summit Brokerage Services, where he worked from 2016 to 2020. Let’s take a closer look at these investor disputes.

Summit Brokerage Services Client Indicates Unsuitable Concentration By Norman Robbins

Evidently, a client of Summit Brokerage Services brought a FINRA Arbitration Claim in October 2020. Mainly, the client alleges that Norman Robbins caused them to have an improper allocation in commodity funds, real estate investments and energy stocks. Supposedly, this overconcentration led to damages. For this reason, the client asked for $100,000 in damages in this unresolved matter.

Robbins Accused Of Misrepresenting Information, Providing Unsuitable Recommendations To Summit Brokerage Services Client

Notably, a client of Summit Brokerage Services filed a September 2020 lawsuit about Norman Robbins. First of all, the client contended that Robbins provided bad investment advice. Secondly, the financial advisor supposedly misrepresented and concealed important facts relating to the client’s investments. Thirdly, the client contends that Robbins violated securities rules and firm policy in regard to alternative investment transactions. It seems that the client sustained losses from real estate securities, oil and gas investments and direct investments. For this reason, the client demanded $100,000 in compensation. Evidently, this FINRA Arbitration Claim awaits a resolution.

Past Disputes About Norman Robbins Contain Allegations Of Unsuitable Advice, Misrepresentation

Also, in four prior disputes about Norman Robbins, one or more clients allege unsuitable advice, misrepresentation about trades, breach of fiduciary duty, breach of contract and negligence. It appears that all clients received compensation as a result of bringing those disputes about the broker.

Did Norman Robbins Cause You To Experience Investment Losses?

Apparently, Norman Robbins denies accusations of sales practice violations. Lost money by investing with this broker? If so, reach out to Soreide Law Group at (888) 760-6552 and speak with skilled counsel concerning a possible recovery of your investment losses. Soreide Law Group represents clients on a contingency fee basis and advances all costs. The law firm has recovered millions of dollars for clients who have sustained losses because of their securities brokers and financial advisors.
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