Lincoln Financial Network Investment Loss Claims
Lincoln Financial Advisors is a broker-dealer and investment advisor company
that operates as a subsidiary of Lincoln National Corporation (NYSE: LNC)
and its affiliates. Established in 1905, Lincoln Financial offers financial
products and services such as annuities, individual and group retirement
plans, life insurance and long-term care protection, and group benefits.
Lincoln Financial is headquartered in Radnor, PA.
A securities brokerage firm licensed by FINRA, Lincoln Financial Advisors
has a legal duty to supervise its brokers and its brokers' recommendations
to clients to ensure compliance with and prevent violations of the rules
of the security industry. When an individual broker is negligent or acts
in an unlawful manner against the interests of the client and that client
suffers damages as a result of such wrongdoing, the firm may be held liable
for the investor's losses.
Though it is a historically well-known firm, Lincoln Financial Network
is not beyond the reach of securities litigation attorneys. Meyer Wilson
has the resources and skill to successfully conduct claims against Lincoln
and firms like it because our investment loss lawyers practice exclusively
in the area of securities fraud. Our attorneys develop detailed investigations
that form the foundation of aggressive and successful claims. Our firm
has reclaimed hundreds of millions of dollars for our clients in federal
courts, state courts, and in arbitration with the Financial Industry Regulatory
Authority, the American Arbitration Association, and privately. Our securities
fraud lawyers even represent international clients against FINRA-licensed
Lincoln Financial Network Fraud & Misconduct
Lincoln Financial has a history of fraud and misconduct. In 2010,
FINRA fined Lincoln Financial $4.43 million for misconduct against 24 former clients. FINRA ruled that
Lincoln Financial was liable because of negligence in failing to prevent
one of its registered brokers from operating a "selling away" scheme, which is the practice of a broker selling investments not
affiliated with his or her own firm. It is illegal for a broker to sell
a security that is not approved for sale. The broker alleged of selling
away in this case was Scott Gordon, who was eventually fired by Lincoln
Financial and barred by FINRA.
In 2011, FINRA fined Lincoln Financial Securities and Lincoln Financial
failing to protect its customers' confidential information. Over one million Lincoln Financial customers' personal records were
not safeguarded as required by the securities industry. Both FINRA and
the Securities and Exchange Commission (SEC) require that brokerage firms
implement policies for protecting their customers' private information.
FINRA discovered that, for over seven years, Lincoln Financial employees
both current and former were able to access any customer account from
any internet browser by using shared login information.
In 2013, FINRA barred Lincoln Financial Advisors broker
Jeffrey Rubin of Florida from the securities industry after discovering that he made
unsuitable recommendations as well as unapproved securities transactions for 31 National
Football League players. Unfortunately, brokers participating in investment
misconduct often target the extremely wealthy and inexperienced. These
NFL athletes placed their trust in Mr. Rubin's casino scheme and lost
a collective $40 million.
Recover Your Losses Against Lincoln Financial Network
An investment fraud lawyer from Meyer Wilson can help you if you or someone
you know has suffered significant financial losses due to Lincoln Financial
Network misconduct. When broker-dealers participate in fraudulent practices such as
Ponzi schemes and unsuitability, unassuming investors usually suffer significant financial
losses. If this happened to you, then our law firm is here to help. Call
a securities fraud attorney at Meyer Wilson today to learn more about
how we can fight for you to recover your losses against Lincoln Financial Network.