Our law firm has been contacted by investors who claim to have suffered
catastrophic investment losses in Direct Participation Plans (or "DPPs")
or other alternative investments sold by Pacific West Securities. We are
actively investigation these alternative investments sold by Pacific West
Securities, such as equipment leases, oil and gas investments, among others.
One of the specific investments at issue is "Gulf Coast Rig and Equipment."
The investments were sold by at least two separate independent financial
advisors operating in California and the state of Washington. Both of
these advisor firms were licensed through Pacific West Securities. According
to our investigation, Pacific West Securities encouraged their financial
advisors to sell millions of dollars of alternative investments to their
clients and represented them to be safe and secure.
Although these investments were sold by independent agents, the focus of
our investigation is not on the brokers who sold them, but rather on the
brokerage firm, Pacific West Securities, for failing to do their due diligence
prior to approving the products for sale. It is often the case that the
brokers who sell these alternative investments are victims as well, because
they are simply selling what their brokerage firm tells them to sell.
According to regulatory filings, former customers of Pacific West Securities
are pursuing claims against the brokerage firm in arbitration actions
filed with the Financial Industry Regulatory Association (FINRA) for investment
losses in excess of a million dollars suffered in several alternative
investments, including DPPs, equipment leasing and oil and gas investments.
To learn more about why individual investors must generally pursue their
claims in mandatory arbitration, watch our short instructive video
Given their significant risks and complex nature, investments in limited
partnerships, private placements and other alternative investments are
rarely appropriate in large amounts for typical individual investors,
especially those who are retired, elderly or conservative. In fact, many
reputable brokerage firms won't even allow their brokers to sell these
types of investments to their customers because they are too risky.
For those brokerage firms that do sell them, they must thoroughly investigate
the securities before allowing their brokers to sell them. The laws require
that they conduct a reasonable investigation of the investment offered
and they must perform proper due diligence. If Pacific West Securities
failed to satisfy its investigative duties, its customers may be entitled
to pursue recovery in a FINRA arbitration proceeding.
Our firm is currently investigating claims against Pacific West Securities.
Once again, although these investments were sold by independent agents,
the focus of our investigation is not on the brokers, but rather on the
brokerage firm for failing to do their due diligence.
If you were sold any of these investments by Pacific West Securities and
are concerned that you may have suffered losses, you can contact our firm
toll-free at 888-390-6491, There is no charge for our lawyers to review
your potential claim and if you hire our firm the attorney fee is completely
contingent and the law firm advances all costs and expenses. If we do
not recovery money for you, you do not owe our law firm any fees and you
would not owe the firm any expenses. In other words, if we don't win,
you don't pay any attorneys fees nor do reimburse our expenses incurred
to pursue your claims.
The investment fraud lawyers at Meyer Wilson devote their practice to representing
investors who have claims brokerage firms, such as Pacific West Securities.
We have represented over 800 investors from Ohio, California, the state
of Washington and around the country and have recovered millions of dollars
on their behalf in securities arbitration and litigation cases. Call is
today toll-free at 888-390-6491.