Securities Lawyers Blog
The securities attorneys at Gana Weinstein LLP are investigating claims against Next Financial Group Inc. (Next Financial) broker Stephen Williams (Williams). According to BrokerCheck records, Williams has been subject to six customer complaints, one of which is still pending. The majority of these claims involve the misrepresentation of Real Estate Investment Trusts (REITs).
Most recently, in February 2018, a customer alleged that Williams misrepresented the nature of various non-traded REITs and didn’t properly disclose the high risk associated with private investments. The customer has requested damages of $350,000. This dispute is currently still pending.
In February 2018, a customer alleged that Williams recommended the customer to invest $50,000 in United Development Funding III (UDF lll) while misrepresenting and failing to disclose UDF III’s highly risky and illiquid nature. The customer requested $50,000 for damages.