Toledo, Ohio (PRWEB) September 23, 2016
Chillicothe and Maumee Ohio residents hired (FINRA case # 16-01730) the securities arbitration law firm, Soreide Law Group, to recover more than $300,000 in realized losses from oil and gas related investments sold by John Bradford Leonard otherwise known to his customers as “Brad Leonard”. Brad Leonard works out of a Toledo, Ohio branch of Wells Fargo. The Claimants’ accounts were alleged to be invested in more than 70% oil and gas stocks. This alleged over-concentration caused the Claimants to suffer devastating losses to their irreplaceable retirement savings. The investments were allegedly made in oil and gas investments including but not limited to: Linn Energy (bankrupt), Breitburn Energy Partners (bankrupt), SeaDrill Partners, Memorial Production, Energy Transfer Partners, Kinder Morgan, Teekay Offshore Partners, to name a few.
The Claimants’ attorney, Lars Soreide, Esq., has accused Wells Fargo Advisors and broker of negligence, breach of fiduciary duty, negligent supervision, breach of contract, and fraud per the filing. The Claimants are collectively seeking damages of $300,000. The suit also alleges that Wells Fargo failed to supervise their financial advisor, Brad Leonard. The losses experienced by the Claimants at Wells Fargo represented "the majority of their entire life savings" according to the filing.
The first suit being arbitrated through FINRA is case number 16-01730 with the second case just filed in September. Wells Fargo Advisors has yet to file a response to both lawsuits.
Lars Soreide, Esq., expects the case to be arbitrated by the summer of 2017. For more information, Lars Soreide can be contacted at (888) 760-6552 and http://www.securitieslawyer.com.
ABOUT SOREIDE LAW GROUP, PLLC
Located at 2335 E. Atlantic Blvd., Suite 405, in Pompano Beach, Fla., Soreide Law Group, PLLC is committed to helping victims recover investment losses due to fraudulent or negligent conduct on behalf of their broker or financial advisors. The firm represents investors nationwide in the handling of securities arbitration claims. The practice focuses on recovering investment losses due to stockbroker negligence or securities fraud and pursues claims against stockbrokers, financial advisors, brokerage houses and fund managers. For additional information on Soreide Law Group, PLLC, please call 888-760-6552 or visit https://www.securitieslawyer.com.