Soreide Law Group files a FINRA Arbitration Claim Against WFG Investments and Matthew A. Bell

Lars Soreide, Esq., of Soreide Law Group, is representing investors from Texas and Maryland before the Finanical Industry Regulatory Authority (FINRA) who filed claims against Matthew A. Bell (CRD# 3091864) for his conduct while at WFG Investments. The lawsuit alleges that Bell recommended inappropriate investments including, but are not limited to: penny stocks such as SOUL, LBAS, ITEN, TWER, and private placements including Maryland Proton Center, Virtus Student Housing, LP, Pamaz Scientific, to name a few. These were widely inappropriate commission laden investments. No answer has yet been filed in response to these allegations by Matthew A. Bell or WFG Investments.

The lawsuit does point out that Matthew A. Bell has racked up no less than sixteen (16) reported customer complaints on his U4. These complaints include but are not limited to: breach of fiduciary duty, breach of contract, deceptive trade practices, fraud, trading in penny stocks, and unsuitability. The significance of Bell's sixteen customer complaints and two terminations is underscored in FINRA NOTICE to MEMBERS 03-49. In 2003, FINRA conducted a review of the CRD’s of all 663,000 registered representatives, only 2,751 (.41%) had been the subject of (3) or more customer complaints. In other words, Matthew Bell's customer complaints rank him in the top one-hundredth percent of all registered representatives for customer complaints.

If you purchased high risk private placements or penny stocks with WFG broker, Matthew A. Bell, please contact Soreide Law Group at (888) 760-6552 for a free consultation.