Securities America is one of the nation's largest independent general securities broker-dealers. Founded in 1984, Securities America has more than 1900 financial professionals nationwide and is headquartered in Omaha, Nebraska. A securities brokerage firm licensed by FINRA, Securities America 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 Securities America broker fails to properly supervise a client's account or acts in an unlawful, fraudulent manner against the interests of the client, investors who sustain serious financial losses as a result can file claims to hold the firm liable.
Securities America, Inc. Broker and Investment Misconduct
In 2010, Meyer Wilson reported that, in an attempt to delay proceedings against themselves, Securities America requested that the courts subpoena all other broker-dealers that sold Medical Capital notes. This subpoena request came after securities regulators from the state of Massachusetts filed a lawsuit against Securities America. The lawsuit alleged that the brokerage firm misled investors, specifically regarding Medical Capital private placements. Read the full story on the Meyer Wilson blog.
Even earlier in 2006, Securities America was fined by NASD $2.5 million dollars and ordered to pay $13.8 million in restitution to their investors. NASD found that Securities America had been participating in an investment scheme that targeted Exxon retirees.
According to a NASD representative, "Securities America's lack of supervision resulted in Exxon employees being fraudulently induced into retiring early based upon false and misleading projections of future investment returns on their nest eggs."
Any time a brokerage firm, like Securities America, misleads, defrauds, or neglects their clients' investment portfolio, and the investor loses a significant amount of money as a result, that investor can take action. Meyer Wilson's investment fraud attorneys are prepared to take action if you are an investor and lost more than $75,000 after investing with Securities America.
Speak with an Investment Fraud Lawyer Today
Why choose Meyer Wilson to handle your investor claim? Our attorneys are not only experienced, but have the expertise and financial resources you need to build a strong case. Investor claims and class actions are all we do. We are prepared to handle claims through all means, such as through federal and state courts, FINRA arbitration, AAA arbitration and private arbitration. We even help overseas investors who have claims against Securities America, Inc.
To determine whether you have a case against Securities America for your losses, call us toll-free or complete our online form to request a free case evaluation.