FSC Securities Ordered to Pay Customers $685,000

A FINRA arbitration panel ordered FSC Securities to a group of investors $685,000 to compensate them investor for damages suffered as a result of FSC’s improper conduct. Claimants asserted the following causes of action: violations of federal securities laws; violations of North Carolina Securities Act; violations of North Carolina Trade Practices Act; violations of the Virginia Securities Laws; violations of South Carolina Securities Act; breach of contract; common law fraud; breach of fiduciary duty; negligence and gross negligence; and, respondeat superior. The causes of action relate to Claimants’ investments in, among other things, Mobil Billboards of America, Inc., f/k/a National Payphone Corporation; Merchant Capital LLC/Evergreen High Yield 0801-4 RLLP; and, Merchant Capital, LLC/Evergreen High Yield 1104-9 RLLP. Among other things, the arbitrators found that FSC ignored a number of “red flags.”

If you suffered investment losses, please contact us or communicate with a Dimond Kaplan & Rothstein, P.A. attorney at 888-578-6255 or jkaplan@dkrpa.com for a free case evaluation.