A FINRA arbitration panel issued a $444,000 securities arbitration award against Woodbury Financial Services as a result of the conduct of one of its registered representatives, “JG” of “G” Wealth Management out of Culver City, CA. Counsel for the Claimant was The Law Office of David Liebrader. The award, issued by a FINRA panel sitting in Los Angeles, CA was one of the first 1031/TIC awards obtained at FINRA as a result of the 2008 market collapse.
The case was tried over five days before a three member arbitration panel, and featured the testimony of several expert witnesses. The underlying facts concerned a tenant in property (TIC) that was sold to one of Woodbury Financial’s customers. The Claimant alleged that Woodbury Financial Services failed to conduct an appropriate level of due diligence, and failed to follow its own internal policies concerning the percentage of a customer’s assets that could be invested in investments like the TIC sold by Woodbury’s “JG”.
The failure to conduct due diligence resulted in the approval of an over leveraged property that quickly defaulted on its mortgage, leaving the investors without a means to recover their investment.
In order to lawfully sell investments to the public, a broker dealer must be registered. According to FINRA’s CRD disclosure report, Woodbury Financial Services is a Minnesota corporation formed in 1968. The firm is registered with the SEC, FINRA, and in 52 states and territories.
In addition to the arbitration award obtained by The Law Office of David Liebrader, Woodbury Financial Services’ broker check report lists several regulatory investigations, and six other customer complaints, including several involving TIC securities.
If you are the victim of investment fraud, or if you have lost money investing with Woodbury Financial Services, please call The Law Office of David Liebrader at (702) 380-3131 for a free, confidential consultation to discuss your legal rights and options. Our firm takes cases on a straight contingency fee, with no money up front, and no money owed unless there is a recovery.
There is no charge for the initial consultation, so call (702) 380-3131 today to speak with an experienced securities attorney who will fight to recover your losses.
The Law Office of David Liebrader practices exclusively in the field of investment loss recovery. For the past 23 years, we have dedicated our law practice to assisting investors who have been victims of investment fraud via fraudulent and unsuitable investment transactions. During that time we have recovered money for over one thousand individuals, pension plans, trusts and companies. The recoveries we have obtained via judgments, awards and settlements on behalf of our clients exceed $40,000,000.