Rex Securities Law Files Arbitration vs. VSR Financial To Recover Losses on Alternative Investments
The claim alleges that the investments, which were sold to them by former VSR Financial broker John H. Towers, were unsuitable for them and were negligently misrepresented. It also alleges that VSR Financial breached its fiduciary duty and was negligent in the supervision of its brokers.
According to FINRA records, John H. Towers was suspended by FINRA in January 2014 in connection with the sale of private placements and real estate investment trusts to a couple that did not authorize such high risk investments.
In May 2013, VSR Financial Services was sanctioned and fined $550,000 by FINRA in connection with the sale of excessive amounts of private placements and other non-conventional investments to investors.
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