Meyer Wilson’s securities fraud attorneys are now investigating potential allegations of misrepresentation against stockbroker Arthur S. Hoffman (CRD# 3193754). According to the public records of the Financial Industry Regulatory Authority (FINRA), a former customer of Mr. Hoffman filed a complaint against him alleging misconduct.
Art Hoffman has been a registered broker since April 1999. He is currently registered with Ameriprise Financial Services Inc. of Glendale, Ariz. His previous registrations include Wedbush Securities Inc. of Glendale; Merrill Lynch, Pierce, Fenner & Smith Inc. of Sun City, Ariz.; and Morgan Stanley DW Inc. of Purchase, N.Y.
Hoffman currently has one customer complaint filed against him with the FINRA, according to a BrokerCheck report.
The complaint relates to Art Hoffman’s work at Wedbush Securities, where he was registered from May 2009 to November 2016. The customer alleges Arthur Hoffman violated Arizona securities law and common law. Hoffman is accused of fraud, negligence, breach of fiduciary duties, and misrepresentation and concealment of material facts.
The customer seeks $1,000,000 in damages, plus punitive damages, costs, and attorney’s fees.
This complaint is currently in arbitration pending with FINRA.
Stockbrokers and Misrepresentation
Your broker works under a legal duty to disclose all the facts that are relevant to your investment decisions. Failing to disclose relevant facts, or making an affirmative statement that misleads you about a material fact, may constitute actionable misrepresentation.
This duty to avoid misrepresentation is part of the overarching relationship of trust that your broker is obligated to maintain.
Unfortunately, relationships of trust are vulnerable to abuse. In the course of their work, brokers may be tempted to serve their own financial interests by coloring certain facts, or by hiding certain others. When a broker abuses your trust through misrepresentation, the results can leave you with a significant financial loss.
If you invested with Arthur S. Hoffman and suspect he may have engaged in misrepresentation that cost you money, contact the securities fraud attorneys at Meyer Wilson. We are committed to providing the most effective representation possible for each and every client. That commitment has resulted in over $350 million recovered for our clients over the past two decades. To request a case consultation, call us or fill out our online form.