The allegations read: Allegations pertain to an investment in an alternative product, intended to be a small component of a larger diversified portfolio. Investments were purchased from 09/2017. Unfortunately, the company that issued the investment has since filed chapter 11 bankruptcy. Additionally, client claims the representative failed to notify claimant that an illiquid reit he owned became public, causing losses when the price declined. As a result, allegations include breach of fiduciary duty, negligence, breach of contract, and misrepresentation. Lifemark believes these to be suitable and appropriate transactions given the information available at the time of the transaction, concerning the investment product as well as the client's financials, risk tolerance and objectives as represented by the client.
