REID & RUDIGER LLC Lawsuit Filed

Soreide Law Group has filed a FINRA arbitration on behalf of their client (Claimant) against, REID & RUDIGER LLC (Respondent).
The Claimant, is in his late seventies, and resides in Colorado.  The Claimant brought this action to recover the investment losses due to the alleged actions of REID & RUDIGER. Allegedly, the Respondent implemented an active trading strategy in the Claimant’s accounts. The lawsuit alleges that REID & RUDIGER have charged the Claimant over $100,000 in fees, commissions and markups during a time when the overall equity markets have appreciated. As a result, the lawsuit alleges, that the Claimant has suffered damages of $499,999.
The lawsuit states that as the Claimant's advisor, REID & RUDIGER, owed the Claimant a fiduciary duty to act in Claimant’s best interest, however, the Respondent allegedly made speculative investments in the Claimant’s portfolio. The lawsuit alleges that the Respondent made unsuitable investment recommendations for the Claimant.  The Claimant relied upon his advisor to provide him with sound financial advice and management, according to the lawsuit.
REID & RUDIGER’s actions, the lawsuit alleges, in this case constitute: breach of contract, failure to supervise, breach of fiduciary duty, negligence, and violations of FINRA rules. The FINRA rules and guidelines are used to create the standard of care that govern financial advisors and supervisors. Also, securities laws impose a duty to properly and reasonably supervise the registered representative according to the general and statutory standard of care.
If you, or an elderly loved one, have suffered losses due to the actions or recommendations of REID & RUDIGER LLC contact an experienced securities lawyer at no cost with  Soreide Law Group and discuss the possible recovery of your investment losses through a FINRA arbitration at:  888-760-6552.
Soreide Law Group works for you on a contingency fee basis—no fee to you if no recovery—nationwide before FINRA.