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Did You Suffer Energy Sector Losses with Wells Fargo Clearing Services, LL Financial Advisor David Dill?

Posted on Thursday, January 31st, 2019 at 9:44 pm    

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Erez Law is currently investigating Wells Fargo Clearing Services, LLC financial advisor David Dill (CRD# 2878249) regarding energy sector losses. Dill has been registered with Wells Fargo Clearing Services, LLC in Merrillville, Indiana since 2008.

Over the past few years, oil prices have significantly declined. A supply glut in 2014 and 2015 led to some of the lowest prices the market has seen in recent years. In turn, securities values also dropped. The volatile energy sector experienced significant turmoil, and many energy companies were negatively impacted when global crude oil prices fell below $40 per barrel at the end of 2015. This was the lowest level since early 2009, as supply was in excess of global demand. Oil and gas companies experienced a spike in bankruptcies, which have left many investors reeling.

Dill has been the subject of two customer complaints between 2010 and 2018, according to his CRD report. The recent complaint is regarding:

October 2018. “Arbitration: Claimant alleges that from 2013 through 2018, FA made unsuitable investments. Complaint: Attorney for client alleges FA placed the client in unsuitable energy investments and executed trades without consulting with the client. (2/27/2013-8/31/2018).” The case is currently pending. The customer alleges $1.2 million in damages.

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, Wells Fargo Clearing Services, LL may be liable for investment or other losses suffered by Dill’s customers.

Erez Law represents investors in the United States for claims against brokers and brokerage firms for wrongdoing. If and 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.