In March 2021, a former client of Allstate Financial Services, LLC won an award in a FINRA arbitration for compensatory damages for $400,000 plus interest, as well as the $425 non-refundable portion of the filing fee for investment losses. The investors were clients of broker Eric Gawron (CRD# 3068421). Gawron has been registered with Allstate Financial Services, LLC in Elma, New York since 2004.
The causes of action included recommendation and purchase of unsuitable bonds; breach of fiduciary duty; misrepresentation; over-concentration; unsuitability; lack of proper supervision; respondeat superior; unjust enrichment; and breach of industry and FINRA rules. The causes of action relate to investments in energy sector bonds. The FINRA arbitration hearing was conducted in Buffalo, New York.
Pursuant to FINRA Rules, member firms are responsible for supervising a broker’s activities during the time the broker is registered with the firm. Therefore, Allstate Financial Services, LLC may be liable for investment or other losses suffered by Gawron’s customers.
Erez Law represents investors in the United States for claims against brokers and brokerage firms for wrongdoing. If you have experienced investment losses, please call us at 888-840-1571 or complete our contact form for a free consultation. Erez Law is a nationally recognized law firm representing individuals, trusts, corporations and institutions in claims against brokerage firms, banks and insurance companies on a contingency fee basis.