Lori Cousineau Weaver (Lori Weaver) Formerly Licensed with Ameriprise Financial Services, Inc. Suspended from Registration as a Securities Salesperson by the State of Washington - Goodman & Nekvasil P.A., May Recover Losses on REIT Investments

Goodman & Nekvasil P.A., May Recover Losses on REIT Investments - Lori Cousineau Weaver (Lori Weaver) a/k/a Lori Ann Cousineau Formerly Licensed with Ameriprise Financial Services, Inc. Suspended from Registration as a Securities Salesperson by the State of Washington 

Lori Weaver was licensed with Ameriprise Financial Services, Inc. from 1989 to 2015. Lori Weaver was subsequently licensed with UBS Financial Services Inc. FINRA reports that on August 9, 2016 the State of Washington Securities Division entered into a Consent Order with Lori Weaver. The Securities Division previously entered a Statement of Charges against Lori Weaver on February 23, 2016. The Statement of Charges alleged Lori Weaver offered and sold non-traded real estate investment trusts (“REITs”) to customers, including many senior citizens, through unsuitable recommendations and failed to disclose complete information regarding the fees, commissions, and illiquidity of these products.

According to FINRA, in settling the matter, Lori Weaver neither admitted nor denied the allegations, but agreed to cease and desist from violating the Securities Act. According to FINRA, Lori Weaver further agreed to pay a fine of $100,000 and to reimburse the Securities Division $10,000 for its costs of investigation. According to FINRA, Lori Weaver agreed to a 30-day suspension from registration as a securities salesperson and waived her right to a hearing and to judicial review of the matter.

FINRA also reports that a complaint was filed involving Lori Weaver’s conduct with Ameriprise Financial Services, Inc. The customer alleged she was advised to do a rollover while Lori Weaver was not licensed to sell investments to her as Lori Weaver was a resident of a foreign country.  This complaint was settled.  

FINRA also reports than an arbitration claim involving Lori Weaver’s conduct with Ameriprise Financial Services, Inc. has been filed. The Claimant alleges that in May 2008, he invested $150,000 in an unsuitable and illiquid non-traded REIT. This arbitration claim is currently pending.

If you lost any money on REITs and/or other investments with Lori Weaver, you may be able to recover your losses from Ameriprise Financial Services, Inc. and/or UBS Financial Services Inc. This is because Ameriprise Financial Services, Inc. and UBS Financial Services Inc. had a duty to supervise Lori Weaver.

If you lost money on REITs and/or other investments with Lori Weaver and believe that the investments may have been unsuitable or otherwise improper for you, we would like to discuss the possibility of your retaining our firm to represent you in an arbitration action against Ameriprise Financial Services, Inc. and/or UBS Financial Services Inc. concerning Lori Weaver’s conduct. There is no charge for an evaluation of your case. Further, we handle our cases on a contingency fee basis. This means that unless we recover money for you, we charge no attorney’s fee. Unless you recover any money, you pay us nothing, not even the costs and expenses which the firm will advance on your behalf.

Kalju Nekvasil, Esq., formerly regional counsel with the NASD, now known as FINRA, has practiced in this area of the law for more than 35 years. Goodman & Nekvasil, P.A. has recovered more than $300 million on behalf of victimized investors. If you lost money on REITs and/or other investments with Lori Weaver and would like your case evaluated by a securities attorney (again, there is no charge for an evaluation and all cases are handled on a purely contingency fee basis), please contact us.

 

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