Soreide Law Group Files Claim Against Wells Fargo’s Regan Allen Rohl

Soreide Law Group Files Claim Against Wells Fargo’s Regan Allen Rohl

Soreide Law Group recently filed an investment-related claim against Wells Fargo securities financial advisor Regan Allen Rohl (CRD#:1877645, Fargo, North Dakota) on behalf of one of Rohl’s customers. The claim involves allegations against Rohl of selling the customer unsuitable oil stocks. Rohl’s alleged unsuitable trades include Breitburn Energy Partners, Linn Energy, Energy Transfer Partners, Legacy Reserves and LRR Energy. Our firm contends that Rohl over-concentrated those oil stocks in the customer’s account. As a result, the customer incurred losses and hired our firm in an effort to recover them.

At least 13 other customers of Wells Fargo and Morgan Stanley Smith Barney, including the following, have filed disputes about Rohl.

February 14, 2018 Arbitration

 

A customer of Wells Fargo Advisors Financial Network, LLC filed FINRA Arbitration #18-00562 on February 14, 2018. Namely, the customer stated that Rohl made unsuitable limited partnership purchases with the customer’s funds. Rohl allegedly caused the customer to incur investment losses because of his unreasonable investment selections for the customer’s account. As a result, Wells Fargo opted to settle the matter by paying the customer $375,000.00. The matter was resolved without Wells Fargo admitting liability.

December 13, 2017 Arbitration

 

A Morgan Stanley Smith Barney customer disputed Rohl’s sales practices in filing FINRA Arbitration #17-03250 on December 13, 2017. Principally, the customer stated that Rohl misrepresented the customer’s limited partnership investments. Apparently, the customer purchased the investments after receiving false or disingenuous information about those investments. Because of this, the customer requested that Morgan Stanley or Rohl pay $85,000.00 to resolve the issue. This matter is pending.

June 19, 2017 Arbitration

 

Wells Fargo Advisors customers complained about Rohl’s conduct by filing FINRA Arbitration #17-01577 on June 19, 2017. According to the customers, from 2011 to 2016, Rohl gave them bad advice about oil and gas sector closed end funds and master limited partnerships. Apparently, Rohl over-concentrated the customers’ assets in those risky investments. Additionally, customers contended that Rohl advised them to use a credit line secured by their investment accounts. However, this caused them to pay excessive interest payments. Eventually, Wells Fargo settled the customers’ claims by paying them $475,000.00.

March 30, 2017 Arbitration

 

Customers of Wells Fargo brought FINRA Arbitration on March 30, 2017. Mainly, the customers disputed Rohl’s advice regarding master limited partnership fund transactions. Rohl allegedly put the customers in inappropriate investments from 2011 and 2015. Moreover, customers claimed that Rohl made unauthorized trades in their investment accounts. Therefore, without admitting liability, Wells Fargo agreed on October 2, 2018 to pay the customers $68,500.00.

Lars Soreide Highest Ethical Standard Award 2018

Lars Soreide Highest Ethical Standard Award 2018

If you have experienced losses by investing with Wells Fargo’s Regan Allen Rohl, contact Soreide Law Group at (888) 760-6552 and speak with experienced counsel about a possible recovery of your investment losses. Soreide Law Group represent clients on a contingency fee basis and advance all costs. The firm has recovered millions of dollars for investors who have suffered losses due to misconduct of brokers and brokerage firms.

2019-01-04T23:45:37+00:00January 4th, 2019|

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