Meyer Wilson is investigating allegations that Kevin Rainwater, an Atlanta-based broker and investment advisor, engaged in investment misconduct that caused his customers to suffer financially. Rainwater currently works for Arkadios Capital, where he has been registered since 2017.
Rainwater has been the subject of multiple allegations of misconduct by several clients. Four cases have been settled. The complaints alleged that he recommended unsuitable private placements, made misrepresentations, and engaged in unauthorized trading. One customer complaint is still pending, alleging that he recommended unsuitable investments, including Real Estate Investment Trusts (REITs). Non-traded REITs are highly risky, illiquid, and rarely suitable for any retail investor.
When recommending the purchase or sale of a security or investment, brokers have a duty not only to recommend investments that are in the best interests of their clients, but also to provide complete and balanced information regarding the investment to investors. If they fail to disclose information or provide inaccurate facts, they may be liable for misrepresentation.
Working with the right legal team makes all the difference. If you invested with Rainwater and lost money in unsuitable investments, the experienced securities and investment fraud lawyers at Meyer Wilson would like to speak with you. Please contact Meyer Wilson today for a no-cost consultation to discuss your legal options.