New York (PRWEB) January 17, 2014
Securities lawyers at the Peiffer Rosca law firm, the Law Office of Christopher J. Gray, P.C. and the Wolf Legal law firms handling arbitration claims on behalf of investors throughout the United States, are investigating Allen Olander, a financial advisor formerly based in Palmdale, California.
Specifically, attorneys are investigating Allen Olander’s sales of variable annuities to some of his customers in connection with retirement and financial advice that Olander provided to customers out of his financial planning office in Palmdale.
Allen Olander has recently been sanctioned by the securities industry regulators allegedly as a result of his sales of variable annuities to some elderly investors and other alleged violations. The variable annuities were allegedly unsuitable and caused the investors to suffer losses, according to the securities regulators’ charges. See FINRA Letter of Acceptance, Waiver and Consent ("AWC") No. 2010025311501 re. Allen B. Olander, CRD # 2304599, dated December 5, 2013, FINRA Department of Enforcement.
Olander consented to a thirteen-month suspension from the security industry, without admitting or denying the regulators’ factual findings, according to the FINRA AWC. The regulators declined to asses a monetary sanction against him, noting that he filed for Chapter 13 bankruptcy protection in 2012, according to the same source.
Attorney Chris Gray represents Olander investors and is seeking compensation for alleged variable annuity–related losses from Olander’s former employer, a securities broker-dealer that employed him during the period when the sales took place and had a duty to supervise and approve Olander’s activities. He is seeking compensation for alleged investor losses from that broker-dealer firm.
"Securities broker-dealers have a duty to reasonably monitor their brokers’ activities and prevent them from selling unsuitable investments to their customers," said attorney Joe Peiffer. "We intend to fight for investors who lost money invested in unsuitable variable annuities based on questionable recommendations by their brokers," said attorney Chris Gray.
Olander investors who purchased variable annuities at his recommendation and believe such annuities were unsuitable for their risk profiles may contact the securities lawyers at Peiffer Rosca attorney Chris Gray, or attorney Adam Wolf toll free at 888-998-0520 for a free, no-obligation evaluation of their recovery options.
The Peiffer Rosca attorneys and attorney Chris Gray often represent victims of fraudulent investment schemes. They take most cases on behalf of victimized investors on a contingency fee basis, advancing case costs themselves and recovering their fees and costs only from amounts recovered on behalf of the investors.
Investors may contact attorneys Peiffer, Gray, or Wolf to discuss possible cases involving Allen Olander at (888) 998-0520 or newcases(at)investorlawyers(dot)net for a confidential, no-cost consultation. Additional information concerning possible claims involving Allen Olander is accessible at http://www.olanderinvestors.com.