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The White Law Group Recently Filed A FINRA Arbitration Claim Against LPL Financial, LLC Involving High Risk Private Placement Investments.

|Includes: Atlas Resource Partners, L.P. (ARP)

The White Law Group filed a FINRA Arbitration claim this week on behalf of an investor in El Cerrito, CA. Allegations include violation of common law fraud, breach of fiduciary duty, negligence, and negligent supervision. The claim further alleges that LPL Financial, LLC unsuitably invested the client in Atlas Resources Public #17-2007(NYSE:A), LP.

The claim seeks damages between $50,000 and $100,000.

"Brokerage firms are required to supervise their advisors to ensure that they are complying with FINRA rules. If it can be determined that the financial advisor violated FINRA rules and the employers failed to adequately supervise him, these firms can be held responsible for any resulting losses in a FINRA arbitration claim," said D. Daxton White, managing partner of The White Law Group, a national securities fraud, securities arbitration, investor protection and securities regulatory/compliance law firm with offices in Chicago, Illinois and Vero Beach, Florida.

"We believe there are many more investors who have suffered losses in private placement investments who just don't realize they have recourse, or may be unaware of any wrongdoing."

It is alleged that LPL Financial, LLC failed to perform the necessary due diligence on these investments prior to recommending them to these particular investors. Broker-dealers have a fiduciary duty to adequately disclose the risks involved in the investment and to perform the necessary due diligence to determine whether the investment is suitable for the investor.

Additionally, it is alleged that Angelo Talebi was the financial advisor of record at the time of the investment recommendations. According to his FINRA Broker Report, Talebi has 28 (twenty-eight) customer complaints.

According to FINRA Notice to Member 03-49, this puts Talebi in the worst 0.22% percent of all financial advisors in terms of the number of customer complaints lodged against him. Allegations on his Broker Report include misrepresentation, unsuitability and excessive trading among other things. Talebi was suspended from the securities industry in December 2015 and is not currently registered.

FINRA Dispute Resolution is an arbitration venue for investors with claims against their brokerage firm or financial advisor. It provides investors with an opportunity to attempt to recoup their investment losses and is an alternative to filing such claims in court.

For more information on the claim filed by The White Law Group, or for a free consultation with a securities attorney, please call 1-888-637-5510.

The White Law Group is a national securities fraud, securities arbitration, and investor protection law firm with offices in Chicago, Illinois and Vero Beach, Florida. Please visit https://www.whitesecuritieslaw.com for more information.

Disclosure: I/we have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.