Mark Huber of Racine Wisconsin a stockbroker and investment adviser representative of Concorde Investment Services is the subject of a customer initiated investment related FINRA securities arbitration claim in which the customer requested $32,000.00 in damages supported by accusations that Huber breached a fiduciary duty in reference to a real estate investment trust (REIT) that was purchased by the customer when Huber was associated with Concorde Investment Services. Financial Industry Regulatory Authority (FINRA) Arbitration No. 20-04118 (Dec. 29, 2020).
According to the claim, misrepresentations and omissions had been made by Huber in regard to the REIT purchase. The claim also alleges a breach of contract and the violation of Indiana Securities Act.
This is the second time that the stockbroker has been referenced in a customer’s dispute alleging sales practice violations resulting in damages. On November 24, 2020, a customer filed an investment related FINRA securities arbitration claim involving Huber’s conduct where the customer sought $150,000.00 in damages based upon allegations that FINRA rules and Illinois securities laws were violated in regard to the customer’s purchases of direct participation program or limited partnership interests. FINRA Arbitration No. 20-03885. According to the claim, the customer sustained damages from negligent misrepresentations and the breach of fiduciary duty by the stockbroker. The claim also alleges that unsuitable recommendations were made by the stockbroker and that Concorde Investment Services failed to supervise Huber’s activities.
Huber has been registered with Concorde Investment Services as a stockbroker since March 2, 2012 and registered with Concorde Asset Management LLC as an investment adviser representative since July 2, 2013.