If You Suffered Losses With Financial Advisor Todd Lesk Contact the Law Firm of KlaymanToskes

LPL Financial Holdings Inc. (NASDAQ:LPLA)

PALM BEACH, FL, USA, August 13, 2024 /EINPresswire.com/ -- National investment loss and securities lawyers KlaymanToskes continues investigating LPL Financial (NASDAQ: LPLA) and barred financial advisor Todd Lesk, who is facing several pending customer complaints alleging $2,127,516 in collective investor damages. The law firm urges customers who suffered investment losses with Todd Lesk to contact the firm immediately at 888-997-9956.

KlaymanToskes reports the firm has filed a FINRA arbitration claim (no. 24-01697) against LPL Financial on the behalf of a family who are seeking to recover hundreds of thousands of dollars in damages, in connection with being recommended to invest in an unsuitable John Hancock Universal Life Insurance policy and an unapproved DeFi crypto currency offering, by their financial advisor, Todd Lesk (CRD# 2788300).

According to the claim filed by KlaymanToskes, Todd Lesk, who has since been barred from acting as a broker by FINRA, engaged in “selling away” from LPL by investing the customers’ funds in Defi crypto. The customers had specifically advised Lesk that they did not want to invest in any high risk investments, however, Lesk represented that the investments were safe.

A financial advisor’s motivation for “selling away” in a private securities transaction is often the result of a conflict of interest, such as the higher commission or compensation they may receive for selling these types of investments to their customers. Investment firms may be held liable for any losses incurred by their customers in the event of a representative “selling away” without the approval of the firm, misrepresentations or omissions of material facts, and/or unsuitable investment recommendations.

Todd Lesk was previously employed as a financial advisor with LPL Financial from 2018 to 2022, and with Cambridge Investment Research from 2022 to 2023 in Coral Springs, FL. Lesk was permanently barred by FINRA in October 2023, following his failure to provide information and documents, and to appear for on the record testimony in connection with the regulator’s investigation concerning whether he recommended his customer to invest in a crypto asset offering away from his member firm.

Current and former customers of Todd Lesk and/or any other financial advisor who suffered investment losses at LPL Financial are encouraged to contact attorney Steven Toskes, Esq. at (888) 997-9956 or by email at investigations@klaymantoskes.com in furtherance of our investigation.

About KlaymanToskes

KlaymanToskes is a leading national securities law firm which practices exclusively in the field of securities arbitration and litigation on behalf of retail and institutional investors throughout the world in large and complex securities matters. The firm has recovered over $250 million in FINRA arbitrations and over $350 million in other securities litigation matters. KlaymanToskes has office locations in California, Florida, New York, and Puerto Rico.

Contact

Steven D. Toskes, Esq.
KlaymanToskes, P.A.
+1 888-997-9956
investigations@klaymantoskes.com