Understanding Sandlapper Securities Investor Losses
The complaint from FINRA is ridden with evidences that show multiple conflicts of interests and violations of investment related rules committed by Trevor Gordon and Jack Bixler, executives of Sandlapper Securities, through both their investment fund and private development company, with the help of several other Sandlapper broker-dealers.
It does not come as a surprise to many investors that a group of brokers may have cooperatively acted against their better interest, as FINRA has recently come under fire for what has been deemed as “[doing] little to stop firms from hiring high concentrations of potentially problematic brokers.”
FINRA Chief Executive Robert Cook has defended the agency by saying it doesn’t make their internal risk ratings of brokerages available to investors because past disciplinary actions don’t always correspond to the potential for negative acts in the future. However, its investors like those who bought into the Sandlapper Saltwater Disposal well securities that are paying the price for the firms continued ability to hire questionable brokers who rack up FINRA disclosures.
In the allegations against Sandlapper Securities, FINRA alleges the investors lost:
- On securities they purchased at markups of 160-270%
- On funds that were borrowed by the firms executives from the investment fund
- On securities that were purchased with borrowed funds and sold back at a massive mark up
- The ability to secure the same interests at a fair market value
What are Sandlapper Securities Investors Options for Recovery?
As the complaint against Sandlapper Securities draws speculation that severe consequences may be imposed on the Greenville, SC based brokerage firm, many investors are seeking options for recovery. Our dedicated Sandlapper Securities FINRA arbitration lawyer is looking to speak with investors who want to pursue recovery against Sandlapper Securities.
Investors involved in conflicts with brokerage firms may submit a request for arbitration at FINRA. FINRA also recommends that during this arbitration process you are represented by an attorney. Arbitration with FINRA is a multi-step process beginning with your claim and ending in a decision or an award.
The FINRA arbitration investigatory process consists of a discovery, involving the exchange of documents and evidences, and a hearing, to submit arguments in support of the separate parties.
The final decision is then delivered by the panel of arbitrators, who also decide if there is an award to be given. If so, its ordered the award be delivered to the appropriate party within 30 days. However, this does not always make every award final.
In some cases, the opposing party can move to vacate the award in the federal or state court systems. In addition, there have been cases in which the offending firm is forced to close and the only option for the investor to recover on a FINRA decision is by using the court systems to confirm the arbitration award.
Sandlapper Securities FINRA Arbitration Lawyer
Brokerage firms are heavily represented in their FINRA arbitration’s and even when the decision seems final, may push to vacate the investors award, which is why FINRA recommends investors retain their own legal counsel. Our financial fraud and securities attorneys are ready to litigate on behalf of your Sandlapper Securities losses. Contact our firm today to learn about your recovery options in a free consultation.