PR91478

SSEK Law Firm Represents Tokyo Investors in Filing $500K Northstar Financial Services (Bermuda) Arbitration Claim Against UnionBanc Investment Services

TOKYO, Sept. 7, 2021 /PRNewswire=KYODO JBN/ --

Two claimants from Tokyo, Japan are pursuing up to $500K in damages from

UnionBanc Investment Services, LLC. Shepherd Smith Edwards and Kantas are

representing these investors and contend that their UnionBanc broker

overconcentrated all of their assets in Northstar Financial Services (Bermuda)

(https://c212.net/c/link/?t=0&l=en&o=3279323-1&h=2031938049&u=https%3A%2F%2Fwww.investorlawyers.com%2Fnorthstar-financial-services-bermuda.html&a=Northstar+Financial+Services+(Bermuda)) and caused them significant six-figure investment losses.

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A panel of three arbitrators will hear their case in San Francisco, California.

SSEK Law Firm (at investorlawyers.com) is fighting for Northstar Financial

Services (Bermuda) investors against the brokerage firms that unsuitably

recommended and sold them this off-shore account to their financial detriment.

Already, we have investigated several brokerage firms, including but not

limited to:

    -- Raymond James Financial

    -- Bankoh Investment Services (https://c212.net/c/link/?t=0&l=en&o=3279323-1&h=1255008963&u=https%3A%2F%2Fwww.investorlawyers.com%2Fblog%2Fbankoh-investment-services-investigation%2F&a=Bankoh+Investment+Services)

    -- Truist Investment Services (https://c212.net/c/link/?t=0&l=en&o=3279323-1&h=172889996&u=https%3A%2F%2Fwww.investorlawyers.com%2Fblog%2Fstephen-berrocal-recommended-northstar-bermuda%2F&a=Truist+Investment+Services)  

    -- SunTrust Investment Services (https://c212.net/c/link/?t=0&l=en&o=3279323-1&h=3495340126&u=https%3A%2F%2Fwww.investorlawyers.com%2Fblog%2Fnorthstar-bermuda-investors-seek-damages%2F&a=SunTrust+Investment+Services)

The investors initially only had traditional accounts at Union Bank until

someone there connected them with a UnionBanc broker. UnionBanc Investment

Services is a Union Bank subsidiary.

It is unclear why the UnionBanc financial advisor would recommend Northstar

Financial Service (Bermuda) products, which paid very little, to these

customers that could have invested in a US-based annuity that offered the same

tax features but were better regulated.

Yet, the UnionBanc stockbroker claimed Northstar was a safe investment that

supposedly met the claimants' low-risk threshold along with their desire to

make returns. These inexperienced investors trusted the advice of their

financial advisor. Now, they are left with serious investment losses.

Northstar Financial Services (Bermuda) is in liquidation proceedings after

filing for bankruptcy protection. Its owner, Greg Lindberg, is serving several

years in prison. It appears that the only way that investors will get their

money back is if they work with seasoned securities lawyers.

The brokerage firm's supervision of their broker and these claimants' accounts

was deficient and grossly negligent. Had there been proper supervision, it

would have been easy to determine that Northstar (Bermuda) was an unsuitable

investment for these customers. Instead, misrepresentations and omissions (https://c212.net/c/link/?t=0&l=en&o=3279323-1&h=1303916218&u=https%3A%2F%2Fwww.investorlawyers.com%2Fmisrepresentations-and-omissions.html&a=misrepresentations+and+omissions) were made to them.

Investors of this off-shore company may be owed up to $70M. If you invested in

any Northstar Financial Services (Bermuda) products, reach out for legal advice

today.

Contact:

Kirk Smith -- ksmith@sseklaw.com

US Toll Free (800) 259-9010

Internationally, text us via WhatsApp (713) 227-2400

Northstar Bermuda FAQs (https://c212.net/c/link/?t=0&l=en&o=3279323-1&h=697408466&u=https%3A%2F%2Fwww.investorlawyers.com%2Fnorthstar-financial-services-bermuda.html&a=Northstar+Bermuda+FAQs)

Northstar Bermuda FAQs (https://c212.net/c/link/?t=0&l=en&o=3279323-1&h=2604806197&u=https%3A%2F%2Fwww.investorlawyers.com%2Fnorthstar-bermuda-faqs-japanese.html&a=Northstar+Bermuda+%E3%81%AB%E9%96%A2%E3%81%99%E3%82%8B%E3%82%88%E3%81%8F%E3%81%82%E3%82%8B%E3%81%94%E8%B3%AA%E5%95%8F)

SOURCE Shepherd Smith Edwards & Kantas LLP