investment fraud

Michael Alexander Hanson of La Mirada California a stockbroker formerly employed by LPL Financial LLC is referenced in a customer initiated investment related arbitration claim which was resolved for $400,000.00 in damages supported by accusations that the customer had been placed into leveraged exchange traded funds which failed to align with the customer’s objectives for investing, risk tolerance or investment circumstances. Financial Industry Regulatory Authority (FINRA) Arbitration No. 17-00815 (Jan. 22, 2019).

FINRA Public Disclosure reveals that Hanson is referenced in three more customer initiated investment related disputes that concern allegations of his misconduct during the period in which he was employed by LPL Financial and Wells Fargo Investments LLC. Specifically, a customer filed an investment related complaint in regard to Hanson’s conduct in which the customer requested $1,000,000.00 in damages founded on accusations that false or misleading statements had been made to the customer about investments when Hanson was associated with Wells Fargo.

Also, a customer initiated investment related civil action brought in the Superior Court of California involving Hanson’s conduct was settled for $168,000.00 in damages based upon allegations that during the time that Hanson was associated with LPL Financial, unsuitable investments including inverse exchange traded funds had been effected in the customer’s account causing the customer to sustain unwarranted losses. Civil Action No. GP008489 (Aug. 3, 2018).

Hanson is also the subject of a Notice of Intent to Revoke Suspend Condition or Limit Securities Agent Registration issued by the State of Michigan Corporations Securities and Commercial Licensing Bureau supported by accusations that Hanson failed to make required regulatory disclosures. Case No. 339977 (Sept. 18, 2019).

Hanson’s registration with LPL Financial LLC has been terminated as of March 3, 2017. Since April 18, 2017, he has been employed by Allstate Financial Services.

The information contained herein has been obtained from reliable sources however may not be accurate and is not guaranteed by us. Readers are encouraged to undertake their own independent investigation and evaluation of the relevant facts. All claims and allegations are subject to adjudication, decisions may be subject to appeal, and no inference is intended, nor should any inference be made from any information contained herein from any source.

Questions or comments regarding the source or accuracy of any information, including any subsequent developments, should be directed to:  [email protected]

This posting and the information on our website is for general information purposes only. This content should be not considered legal advice, and any responses, comments, e-mails, other communications do not form any attorney client relationship. Attorney Advertisement. See Important Disclaimer.

Guiliano Law Group, P.C.

Our practice is limited to the representation of investors. Over the last three decades, we have recovered more than a hundred million dollars for more than 1,000 injured investors from all over the United States and several foreign countries. We accept representation purely on a contingent fee basis, meaning there is no cost to you unless we make a recovery for you. There is never any charge for a confidential consultation or an evaluation of your claim. For more information, contact us at (877) SEC-ATTY.

For more information concerning common claims against stockbrokers and investment professionals, please visit us at securitiesarbitration.com

To learn more about FINRA Securities Arbitration, and the legal process, please visit us at securitiesarbitrations.com

Stockbroker Fraud. Securities Arbitration and Investment Fraud Lawyers.  
National Practice. Contingent Fee. Confidential Free Consultation.

 (877) SEC-ATTY

1700 Market Street, Suite 1005
Philadelphia, PA 19103
Direct: (215) 413-8223
Toll Free: (877) 732-2889

1260 South Soto Street, Suite 7
Los Angeles, California 90023
Direct: (213) 255-3475
Toll Free: (877) 732-2889

2750 NE 185th Street, Suite 302
Aventura, Florida 33180-2877
Direct: (786) 490-2413
Toll Free: (877) 732-2889

See Important Disclaimer

Tags: ,

No comments yet.

Leave a Reply

Name (required)

Email (will not be published) (required)

Website