According to the records, the states claimed that Next Financial Group LLC was guilty of negligence in failing to instruct its brokers about the importance of dealing with REITs. In this case, it was found that one of its brokers did not inform the company about the possible risks associated with buying REITs. Subsequently, it was discovered that the brokerage firm failed to advise the company on the purchase of such an investment. The company then invested in non-regulated Real Estate Investment Trusts instead of the ones recommended by the broker. This resulted in negative income to the company.
According to the records, this week, a judge in a California federal district court ordered the next financial group lawsuit against the company to be heard.
The decision is final as no appeal can be done. However, the company is free to appeal against the court’s decision. This case is significant because the company has to pay the fine imposed on it by the Federal Trade Commission of the United States and National Association of Securities Dealers (NASD) for failing to instruct its brokers regarding the risk involved in dealing with Real Estate Investment Trusts or REITs.
In this decision, the judge found that the company’s Broker Certification Policy did not mention any risks associated with buying REITs and hence there was no reason for the company to advise the buyers about this.
The next financial group lawsuit was then launched against the company. The complaint said that the company had been deceiving the buyers and had not only concealed the effects of a bad deal but also explained the benefits of the deal to be gained from it. Hence the company was held liable for the amount of money that was invested in non-regulated Real Estate Investment Trusts.
The next financial group lawsuit also said that the company failed to inform the buyers that the transactions of Real Estate Investment Trusts were unregulated and thus the brokerage firm was responsible for the damages incurred on the buyer.
The brokerage firm was also accused of deceiving the company and not informing it that a large number of people had invested in these REITs. The court then ordered the company to pay damages to the buyer. However, the company is free to appeal against the decision within three months of the date of the order. The case was heard by the Federal Trade Commission of the United States.
The company had lost in its appeal process before the Federal Trade Commission of the United States.
The court however found merit in the case and directed the company to pay damages to the group. The Federal Trade Commission was responsible for the case because it was an appeal before an appeals court. Thus the company can only appeal before the lower court. The company is however free to consult with an attorney of its choice to determine the next step in the case.
If the company loses the appeal, the next financial group lawsuit will be filed against the company.
The next financial group lawsuit will be of a different nature than the previous one. The next financial group lawsuit is usually higher in value because the assets of the company will be higher than the previous one. This however does not mean that the company will lose all of its assets. It is however advisable for the company to ensure that it is well protected in case of any court proceedings.