There are options for clients of Kalos Capital, Inc. broker Michael Haffling (CRD# 5133150) who suffered investment losses. Michael Haffling has been registered with Kalos Capital, Inc. in Orland Park, Illinois and Western Springs, Illinois since 2013.
Michael Haffling Customer Complaints
Michael Haffling has been the subject of five customer complaints between 2020 and 2021, according to his CRD report:
- August 2021. “Claimant alleging violations of federal and state securities laws, breach of contract, common law fraud, breach of fiduciary duty, and negligence and gross negligence.” The customer is seeking $10,000 in damages and the case is currently pending. The complaint was regarding real estate securities.
- March 2021. “Claiming unsuitable and over concentrated recommendations.” The case is currently pending. The complaint was regarding direct investments and real estate securities.
- December 2020. “Failure to conduct reasonable due diligence and examine the private placement company’s representations and disclosures prior to recommending the investments to Claimants.” The case was settled for $18,331. The complaint was regarding alternative investments and direct investments.
- July 2020. “Claimant alleges that Kalos Capital did not conduct reasonable due diligence and review the issuer’s representations and disclosure prior to recommending the investment. Mr. Haffling and Kalos Capital deny these claims.” The customer sought $120,000 in damages and the case was settled for $55,000. The complaint was regarding direct investments.
- April 2020. “Claimant alleges numerous violations of FINRA rules on the one under-performing security. These allegations are the result of the purchase on a single security on 4/29/2016. The allegations include lack of proper due diligence and high commissions.” The customer sought $150,000 in damages and the case was settled for $27,674. The complaint was regarding alternative investments and direct investments.
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, Kalos Capital, Inc. may be liable for investment or other losses suffered by Michael Haffling’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.