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Soreide Law Group Has Filed A FINRA Arbitration On Behalf Of Their Clients Against WELLS FARGO ADVISORS FINANCIAL NETWORK, LLC.

|Includes: UNG, The United States Oil ETF, LP (USO)

The Claimants, a married couple and their son from Nebraska, met their Wells Fargo registered representative, Jerry Duane Holdsworth (CRD# 3241043) in 2009. The lawsuit alleges that the Claimants informed Holdsworth that they were looking to have their retirement savings invested in conservative growth and income producing investments. On or about 2015, the lawsuit alleges that WELLS FARGO broker Jerry Holdsworth began to buy large concentrated positions in energy investments. The Claimants were allegedly reliant upon Holdsworth for their investment advice. Holdsworth allegedly recommended large investments in the United States Natural Gas Fund and the United States Oil Fund (USO). USO was held in nearly every account of the Claimants along with other high-risk energy investments including but not limited to: Cheesapeake Energy, Ensco PLC, and Marathon Oil.

The lawsuit claims all the Claimants accounts are down $200k due to the alleged large over-concentrated positions in high-risk energy investments that were not hedged in any way and no stop losses were ever implemented.

The lawsuit alleges that the Claimants, on several occasions, called to raise their concerns about the decline in USO and UNG, and each time they were told to either hold or buy more. Over-concentrated positions in oil investments is totally unsuitable for retirement savings.

The lawsuit alleges that WELLS FARGO and their representative's actions have caused Claimants damages of approximately $200,000.00.

The alleged claims are: negligence, breach of fiduciary duty, negligent supervision, and breach of contract.

If you were a client of WELLS FARGO Lincoln, Nebraska broker, Jerry Holdsworth, and experienced losses due to his actions, recommendations, or lack of supervision, or if your broker over-concentrated your portfolio in high-risk oil and gas stocks, call Soreide Law Group for a no-cost consultation with an experienced securities lawyer at: 888-760-6552.

Soreide Law Group represents clients before FINRA nationwide and we operate on a contingency fee basis. Let our years of experience work for you.

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